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The Venture Codex

HV Capital

Kaiserstraße 14 b, München, Bayern, 80801, Germany

Overview

Venture capital firm supporting internet and technology startups.

Founded

2000

Deals · 12mo

21

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A

Geographic focus

Germany
United Kingdom
United States

Sector focus

Finance
Financial Services
Venture Capital

Investment portfolio

264rounds
NAMEDATESIZE
Rivercell
Oct 2026Led
$25 MSeed
Hadrian
Oct 2026Participated
$40 MSeries B
Exein
Sep 2026Participated
$270 MSeries C
Flip
Aug 2026Participated
$25 MOther Equity
Ore Energy
Aug 2026Led
$43 MSeries A
Fleek
Jul 2026Participated
$25 MSeries B
Quantum Systems
Jul 2026Participated
$1.2 BSeries D
FINN
Jun 2026Participated
$159 MSeries D
Isar Aerospace
Jun 2026Participated
$312 MSeries D
Fifth Dimension
May 2026Led
$26 MSeries A
SPREAD AI
Apr 2026Participated
$30 MSeries B
Midas
Mar 2026Participated
$50 MSeries A
Rivercell
Oct 2026Led
$25 MSeed
Hadrian
Oct 2026Participated
$40 MSeries B
Exein
Sep 2026Participated
$270 MSeries C
Flip
Aug 2026Participated
$25 MOther Equity
Ore Energy
Aug 2026Led
$43 MSeries A
Fleek
Jul 2026Participated
$25 MSeries B
Quantum Systems
Jul 2026Participated
$1.2 BSeries D
FINN
Jun 2026Participated
$159 MSeries D
Isar Aerospace
Jun 2026Participated
$312 MSeries D
Fifth Dimension
May 2026Led
$26 MSeries A
SPREAD AI
Apr 2026Participated
$30 MSeries B
Midas
Mar 2026Participated
$50 MSeries A
264
Items
...
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Insights

Time horizon

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Deal Distribution

HV Capital: 264 funding rounds are recorded in the selected participation categories.All available history.
HV Capital: 264 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed379
Series A2624
Series B1028
Series C+543
Other Equity1665
Debt01

Monthly Deal Activity

HV Capital: 264 deals are recorded across 202 months.All available history.
HV Capital: 264 deals are recorded across 202 months. All available history
MonthDeals
Jan '101
Feb '100
Mar '101
Apr '100
May '100
Jun '100
Jul '100
Aug '100
Sep '100
Oct '100
Nov '100
Dec '100
Jan '110
Feb '110
Mar '111
Apr '110
May '111
Jun '110
Jul '110
Aug '110
Sep '110
Oct '110
Nov '110
Dec '110
Jan '120
Feb '120
Mar '120
Apr '120
May '120
Jun '121
Jul '120
Aug '120
Sep '120
Oct '121
Nov '120
Dec '122
Jan '131
Feb '130
Mar '130
Apr '131
May '130
Jun '131
Jul '130
Aug '130
Sep '131
Oct '130
Nov '130
Dec '130
Jan '142
Feb '141
Mar '141
Apr '140
May '141
Jun '140
Jul '142
Aug '140
Sep '140
Oct '141
Nov '142
Dec '140
Jan '151
Feb '152
Mar '152
Apr '151
May '150
Jun '150
Jul '150
Aug '150
Sep '150
Oct '150
Nov '152
Dec '152
Jan '161
Feb '164
Mar '160
Apr '160
May '162
Jun '160
Jul '160
Aug '163
Sep '161
Oct '160
Nov '160
Dec '160
Jan '170
Feb '173
Mar '172
Apr '171
May '171
Jun '172
Jul '171
Aug '170
Sep '171
Oct '172
Nov '170
Dec '171
Jan '182
Feb '181
Mar '182
Apr '181
May '182
Jun '180
Jul '180
Aug '180
Sep '181
Oct '180
Nov '182
Dec '181
Jan '191
Feb '190
Mar '191
Apr '191
May '192
Jun '195
Jul '192
Aug '194
Sep '190
Oct '190
Nov '193
Dec '191
Jan '202
Feb '204
Mar '201
Apr '201
May '202
Jun '201
Jul '202
Aug '202
Sep '200
Oct '203
Nov '203
Dec '205
Jan '211
Feb '211
Mar '210
Apr '212
May '211
Jun '219
Jul '214
Aug '212
Sep '213
Oct '213
Nov '210
Dec '213
Jan '223
Feb '222
Mar '222
Apr '223
May '222
Jun '222
Jul '223
Aug '220
Sep '224
Oct '221
Nov '221
Dec '220
Jan '231
Feb '233
Mar '234
Apr '231
May '232
Jun '231
Jul '233
Aug '231
Sep '231
Oct '236
Nov '231
Dec '233
Jan '244
Feb '240
Mar '242
Apr '240
May '241
Jun '241
Jul '245
Aug '240
Sep '243
Oct '244
Nov '244
Dec '240
Jan '253
Feb '252
Mar '254
Apr '252
May '252
Jun '254
Jul '254
Aug '250
Sep '252
Oct '253
Nov '253
Dec '251
Jan '260
Feb '263
Mar '262
Apr '261
May '261
Jun '262
Jul '262
Aug '262
Sep '261
Oct '262

Sector Breakdown

HV Capital: Networks, Cloud & Communication is the largest displayed sector by deal count (72 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

HV Capital: Networks, Cloud & Communication is the largest displayed sector by deal count (72 deals). All available history
SectorDeals
Networks, Cloud & Communication72
Enterprise Software63
E-Commerce & Retail54
AI & Machine Learning52
Fintech46
Transportation & Logistics43
Professional Services35
Consumer & Lifestyle29
Health & Life Sciences26
Food & Agriculture23
Travel & Hospitality21
Clean Energy & Sustainability19
Education & Workforce18
Space & Frontier Tech17
Real Estate & Construction16
Data, Analytics & IT16
Hardware & Robotics12
Media & Entertainment12
Developer Tools11
Cybersecurity & Privacy10
Manufacturing10
Marketing & Advertising8
Social & Community Platforms8
Crypto & Blockchain7
Government & Defense4
Gaming & eSports1

Deal Size Distribution

HV Capital: 264 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

HV Capital: 264 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M25
$5M-$10M47
$10M-$25M83
$25M-$50M48
$50M-$100M33
$100M-$250M21
$250M-$500M3
$500M-$1B2
$1B+2

Deals By Geography

HV Capital: Europe has the largest recorded deal count among the displayed regions (232 deals).All available history.

Top 10 of 12 regions; European countries are grouped as Europe.

HV Capital: Europe has the largest recorded deal count among the displayed regions (232 deals). All available history
RegionDeals
Europe232
United States18
Canada4
Singapore2
Japan1
Deutschland1
E1 8fa1
Colombia1
128701
Hong Kong1
HV Capital: 20 co-investors are shown, with Lakestar sharing 16 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

HV Capital: 20 co-investors are shown, with Lakestar sharing 16 recorded deals. All available history
Co-investorShared deals
Lakestar16
Balderton Capital15
Picus Capital13
Speedinvest13
Rocket Internet12
Partech11
Tengelmann Ventures11
DN Capital10
RTP Global9
UVC Partners9
Kinnevik8
Project A8
BlackRock7
Creandum7
e.ventures7
High-Tech Grunderfonds7
Sequoia Capital7
Vorwerk Ventures7
Vsquared Ventures7
10x Founders6

Investment Strategy

HV Capital: Led accounts for 36% and participating for 64% of round participation.All available history.
HV Capital: Led accounts for 36% and participating for 64% of round participation. All available history
CategoryDeals (count)Share (%)
Led9436%
Participating17064%
HV Capital: Single-lead accounts for 56% and co-led for 44% of lead dynamics.All available history.
HV Capital: Single-lead accounts for 56% and co-led for 44% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead5356%
Co-led4144%

Team

Ann-Christin Stiehl

VC Investor

David Stefan Fischer
Fabian Gruner

Partner

Felix Kluhr

General Partner

Lina Chong

Partner

Maxi Pethö-Schramm
Mina Mutafchieva Van Ingelgem

Principal