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Senovo Capital Management GmbH

DEATCHGBBEIECZSEPLUSB2B SaaSAI/MLCybersecurityEnterpriseDevtoolsDeep Tech

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Investment thesis

Senovo is a European early-stage B2B software fund that has invested since 2013 in a new generation of European B2B software companies. The firm backs founders after product-market fit and first revenues — at late Seed or Series A — with initial tickets of €1–5m, focusing on teams building AI-first products in cybersecurity, industrial tech, open source, infrastructure, SaaS, and other deep-tech B2B software that enables the digitalization of medium and large enterprises. Senovo makes a handful of high-conviction commitments per year, prioritizing meaningful ownership over portfolio diversification. In this crucial initial scaling phase, the firm actively supports portfolio companies on go-to-market strategy, US expansion, organizational scaling, and financial benchmarks, with the goal of helping founders raise a larger subsequent growth round and become global category leaders.

Notable quotes

We are completely focused on B2B SaaS companies entering what we call the initial scaling phase. In our opinion, there are three major scaling phases... the initial scaling phase — it's all about creating an operational framework to make a growing organization work. We try to focus entirely on the second phase.

Markus Grundmann · VCLeaders Medium interview · 2020-07-16

We see a massive change in the market and, as a B2B VC, we naturally want to be part of it.

Markus Grundmann · Munich Startup interview · 2016-01-01

Fund IV continues exactly that: a handful of deep-conviction commitments per year to teams building category-defining software. Over the past 12 years and across four funds, we've backed 40+ enterprise software companies from Europe.

Senovo (team post) · LinkedIn / Fund IV announcement · 2025-06-25

Team

Alberto Giovannetti

Analyst

B2B SaaS

Dr. Alexander Buchberger

Partner & Co-Founder

B2B SaaSEnterpriseAI/ML

Frederick von Mallinckrodt

Partner & Co-Founder

B2B SaaSEnterprise

Lucas Behem

CFO

B2B SaaSEnterprise

Markus Grundmann

Partner

Deep TechDevtoolsAI/MLB2B SaaS

Mona Gindler

Partner

B2B SaaSAI/MLCybersecurity

Recent investments

CompanyRoundSizeDate
ParloaSeed / Series A / Series B2022-01-01
HiveMQSeed$10m2021-05-06
IP FabricSeries A$25m2020-01-01
CultureAISeed / Series A2021-01-01
LativeSeries A2025-01-01
FlowFuseSeed2025-01-01
MantaSeed2018-01-01
ArchletSeed$10m2020-01-01
Project44Growth2022-01-01
QuantilopeSeed2016-01-01

Frequent co-investors

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