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The Venture Codex

LBBW

Am Hauptbahnhof 2, Stuttgart, Baden-Württemberg, 70173, Germany

Overview

LBBW Landesbank Baden-Württemberg is a both an universal bank and a commercial bank with a regional focus. Landesbank Baden-Württemberg is Germany's biggest Landesbank, with total assets of around EUR 274 billion (as at 31 December 2013) and a staff of approx. 11,300 within the Group. Its head offices are located in Stuttgart, Karlsruhe, Mannheim and Mainz. LBBW is guided by the needs of its domestic customers. Its three customer-driven banks - BW-Bank, Rheinland-Pfalz Bank and Sachsen Bank - allow LBBW to offer the full array of business services provided by a large bank in around 200 branches across Germany, while also drawing on extensive regional roots. Within the state capital Stuttgart, BW-Bank fulfils the role of a municipal savings bank for LBBW. LBBW's business model is based on five pillars and comprises the following areas of business: corporate customers, private customers, savings banks, real estate financing and financial markets. BW-Bank, Sachsen Bank and Rheinland-Pfalz Bank as dependent institutions with their own market presence form the three strong regional pillars in the Group's business with private and corporate customers. LBBW moreover assists its corporate customers and the savings banks in their international operations. Branches and representative offices around the world provide support through their country expertise, market knowledge and finance solutions. In addition, LBBW has German Centres in Beijing, Singapore, Mexico City, Delhi.Gurgaon and Moscow, which provide advice to German corporate customers on market entry and make available offices and networks on site. Subsidiaries specializing in specific areas of business such as leasing, factoring, asset management, real estate or equity finance diversify and amplify LBBW's portfolio of services within the Group.

Total investments
5
Lead investments
1
Investments · 12mo
2
Active investors
5

Sector focus

  • Banking
  • Finance
  • Financial Services
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Investment portfolio

  • Metergrid

    Participated · Series A · Feb 2026

    Metergrid specializes in enabling tenant electricity projects, helping landlords and property operators supply solar power directly to tenants. The company’s core product set focuses on software that manages the generation, distribution, and billing of on-site renewable energy, with plans to deepen this software capability in its next growth phase. Fueled by rising demand for renewable, locally produced power in multi-tenant buildings, Metergrid aims to streamline regulatory compliance and financial settlement for its customers. The startup is headquartered in Stuttgart and positions itself at the intersection of cleantech and energy management. To accelerate product development and market expansion, the company secured fresh capital through a €10 million Series A financing. While detailed revenue or user figures were not disclosed, management signaled that the funds will be directed primarily toward scaling software engineering and supporting overall growth. Existing and new investors view the round as a catalyst for Metergrid’s transition into a more software-driven, scalable business model.

  • Exciva

    Participated · Series B · Jan 2026

    Founded in 2016 by Drs. Anton Bespalov, Hans Moebius and Rao Vepachedu, Exciva focuses on therapies for neuropsychiatric symptoms in Alzheimer’s disease dementia and related brain disorders. Its lead candidate, Deraphan, combines two CNS-active compounds designed to reduce agitation in Alzheimer’s patients. The company is currently preparing and financing a Phase 2 clinical study to evaluate Deraphan’s therapeutic potential. Exciva leverages proprietary discovery capabilities to identify synergistic compound combinations addressing unmet neuropsychiatric needs. The latest capital infusion strengthens its balance sheet and extends runway through critical mid-stage clinical development. While the company has not disclosed revenue or patient enrollment numbers, the new financing underscores investor confidence in its scientific approach and market opportunity. The refreshed board now includes representatives from key new and existing investors, ensuring broad strategic guidance as the program advances.

  • 1Komma5°

    Participated · Debt Financing · Dec 2023

    1KOMMA5° operates Heartbeat AI, a virtual power plant that buys electricity on the spot market when prices (and CO2 emissions) are low and sells excess power back to the grid when prices are high. The company charges a flat software fee rather than margins on electricity and enables real-time individual electricity prices instead of conventional fixed tariffs. It positions Heartbeat AI as a grid-stabilizing solution amid rising renewable generation. Less than four years after its foundation, 1KOMMA5° has expanded through several acquisitions, including Arkana Energy, Solaray Energy, ZEWO Energy and Zonduurzaam. The company has secured a €150M Pre-IPO round, bringing total funding to over €650M. With the new funding it plans to accelerate growth, roll out Heartbeat AI across Europe and Australia, allow customers to become shareholders, and pursue an eventual IPO while building a European “New Energy” household brand. 1KOMMA5° develops a vertically integrated service platform for clean energy deployment, aiming to serve millions and replace fossil fuels and high energy costs. The company says it is executing toward a long-term 2030 trajectory and plans to become subsidy independent. Management is preparing for a public listing and has announced new U.S. investors joining as shareholders. The LinkedIn post cites Hamilton Lane and one of the largest U.S. pension funds as new shareholders and highlights continued interest from tier‑1 U.S. investors. Customer comments in the thread reference live installations (battery and wallbox) that have fed power into the grid and plans to use smart meters and Dynamic Pulse. Management thanks teams, partners, and customers and frames the investor additions as part of scaling the business internationally. 1KOMMA5° offers a one-stop shop for sale, installation and services for solar panels, energy storage, EV charging infrastructure and heat pumps, supported by its Heartbeat energy IoT platform. Heartbeat delivers centralized intelligent energy management to help homeowners optimize power consumption and increase grid independence. The company is pursuing aggressive European expansion through acquisitions and investments in portfolio companies in photovoltaics, charging infrastructure and heat pumps. 1KOMMA5° operates 68 locations with around 1,700 employees across Germany, Sweden, Finland, Denmark, Italy, Spain and Australia. It publicly targets €500M in revenues in 2023 and aims for €10B by 2030, planning to convert 1.5M buildings by then and to build capacity to convert 500,000 buildings per year. 1KOMMA5° provides carbon-neutral energy systems and the proprietary "Heartbeat" energy IoT platform that delivers centralized intelligent energy management to optimize home energy in response to price fluctuations. It operates a virtual power plant that pools customers' photovoltaics, electricity storage, heat pumps and charging columns to increase the profitability of networked customer systems. The company also invests in electrical-sector companies—focusing on photovoltaic systems, charging infrastructure and heat pumps—and offers partner entrepreneurs its software, centralized services, bundled purchasing, growth capital and a reverse shareholding in 1KOMMA5° Holding. 1KOMMA5° currently operates over 65 sites with around 1,500 employees across Germany, Sweden, Finland, Italy, Denmark, Spain and Australia and has capacity to convert 500,000 buildings per year to climate-neutral power, heat and mobility. Financially, the company became a unicorn in June after previously raising €630 million and this week closed an undisclosed double-digit million euro deal with VC firm 2150. It will use the funding to further develop and expand Heartbeat software and to open an R&D centre in Berlin with over 100 employees for software and product development and a test laboratory. 1KOMMA5° develops home-focused sustainable energy solutions, centered on its Heartbeat energy manager and companion app that give real-time visibility and optimisation of household energy flows. The company is pursuing vertical integration across the value chain and investing in device connectivity, virtual power plants, and broader energy management technology. It has expanded geographically via the acquisition of Viasol and operates with regional partners across 40 locations in Germany, Sweden, Finland and Australia, with further market entries planned. 1KOMMA5° announced a high double‑digit million investment in a new R&D site and team in Berlin to accelerate product and IoT development. Heartbeat is slated to be compatible with existing energy devices by 2024, supporting the company’s ambition to create the largest virtual power plant. The firm emphasizes reduced carbon footprints and energy cost savings for homeowners as core customer benefits.

  • PowerField Netherlands

    Led · Equity · Feb 2023

    Powerfield develops, builds and manages "virtual power stations" that connect solar parks to external storage and EV charging infrastructure. Headquartered in Wormer in North Holland, the company integrates PV generation with batteries and EV chargers to enable direct use of renewable solar radiation. Powerfield currently operates 1000 MWp of solar park generation capacity. The company aims to scale its integrated platform and to build what its CEO described as the largest virtual power plant in Europe. A €500 million structured equity and portfolio financing provided by EIG and Landesbank Baden‑Württemberg is expected to fund further platform development and to unlock an additional c.500 MWp of capacity. An inaugural tranche supplied on January 30 was earmarked to deliver 120 MWp of new solar park capacity.

  • Code Intelligence

    Participated · Series A · Jun 2022

    Code Intelligence builds an automated application security testing platform centered on fuzzing. It integrates with CI/CD tools like Jenkins, GitHub and GitLab to automatically fuzz code on new pull and merge requests and report coverage. The platform currently supports Go, C++, Java and Kotlin, with Node.js, JavaScript, .NET and Python support coming soon. Its self-serve product remains in closed beta while the company onboards enterprise customers such as Bosch, Continental and Deutsche Telekom. Over time the company plans to automate onboarding and launch a fully self-service platform. Financially, Code Intelligence recently completed a $12M Series A and has about $15.7M in total funding. Code Intelligence has developed CI Fuzz, a platform that enables continuous, automated dynamic application security testing across the software development lifecycle using techniques such as smart fuzzing. The product automates application security testing and aims to simplify processes and foster collaboration between development, security, and operations teams. The testing platform supports C/C++, Java (all JVM languages), and Golang, and can be deployed both in the cloud and on-premise. Code Intelligence counts customers such as Deutsche Telekom AG, Robert Bosch GmbH and Deutsche Börse AG. The company plans to use newly raised funds to add features to the testing platform, including a cloud-based offering, and to expand sales and customer success efforts. Code Intelligence was launched in 2018 and is based in Bonn, Germany. Code Intelligence is a spin-off from the University of Bonn’s Usable Security & Privacy group led by Dr. Henning Perl, Philipp Langnickel, Sergej Dechand, Dr. Khaled Yakdan and Prof. Dr. Matthew Smith. The company’s core product applies intelligent algorithms and modern fuzzing techniques to automatically test large sets of attack vectors via pseudo-random input mutations. Through this approach it aims to uncover both security vulnerabilities and reliability issues in software efficiently and in a timely manner. The startup plans to use newly raised funds to further develop its product and to support market entry. Financially, Code Intelligence closed a €700k seed round and previously received €645,585 through an EXIST-Forschungstransfer grant from the German Federal Ministry of Commerce.

Team

  • Robert E. Wesley

    Project Finance

    LinkedIn
  • Michael N. Weiss

    Sector Head TMT (Telco, Media, Technology)

    LinkedIn
  • Dirk Kipp

    Global Head of Markets, Member of the Executive Management Board

    LinkedIn
  • Joachim Erdle

    Managing Director/Head of Corporate Finance

    LinkedIn