Investor profile
High-Tech Gründerfonds (HTGF)
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HTGF is Germany's largest and most active early-stage investor, backing tech founders at the pre-seed and seed stage with an initial sweet spot of €800k+, and up to €8m per company across seed funds, plus up to €30m in follow-on growth rounds via its Opportunity Fund. The firm operates as a public–private partnership — with the German Federal Ministry for Economic Affairs, KfW Capital, and 45 industrial LPs — and focuses on three verticals: Industrial, Climate & Deep Tech; Life Sciences & Chemistry; and Digital Tech. Rather than chasing trends, HTGF uses a technology-first thesis, investing in teams with deep technical insight and scalable innovation, with the explicit mission to strengthen Germany's technological backbone and create international market leaders. With over €2 billion AUM across its fund generations, HTGF acts as lead investor and leverages its national and international co-investor network to support portfolio companies from first cheque all the way to exit or IPO.
Notable quotes
“Back then, it was seen as a public vehicle. The expectation was that the fund might lose money, 50 per cent research, 50 per cent loss. In reality, we've proven that early-stage investing can be both impactful and financially successful. We now have around 30 per cent private capital and 70 per cent public. There's a misconception that public money limits us. It doesn't. We can invest alone, set prices, and act like a normal VC.”
“No two days are alike here. I have been part of the HTGF team since 2008 and part of the management team since 2023. I believe there is hardly another field that is as inspiring and varied as venture capital, where you learn so much about the power of world-changing technologies, entrepreneurship and the success factors of startups. It is a privilege to work with founders whose ideas have the potential to change the world.”
“At some point, I felt that if you really want to change something, you need to be in the startup world — more risk-taking. So I switched to HTGF and started in the digital tech team. I built a portfolio of around 15 companies, most of which I've exited. The portfolio ranged from IT security to e-commerce, depending on what was popular at the time.”
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Proxima Fusion | Seed | — | 2023 |
| ATMOS Space Cargo | Series A | $28m | 2025-04 |
| Tubulis | Seed | — | 2020 |
| EGYM | Seed | — | 2011 |
| Instagrid | Seed | — | 2018 |
| VMRay | Seed | — | 2014 |
| SimScale | Seed | — | 2012 |
| Avelios Medical | Seed | — | 2021 |
| IonKraft | Seed | $4m | 2024-11 |
| Plancraft | Seed | — | 2022 |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| Bayern Kapital | 64 |
| NRW.BANK | 30 |
| Earlybird Venture Capital | 20 |
| KfW Capital | 19 |
| Technologiegründerfonds Sachsen (TGFS) | 15 |
| LBBW Venture Capital | 12 |
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