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The Venture Codex

Start-up BW

Schlossplatz 4, Stuttgart, Baden-Württemberg, 70173, Germany

Overview

Venture capital fund for innovative start-ups.

Deals · 12mo

1

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A

Geographic focus

Germany

Sector focus

—

Investment portfolio

5rounds
NAMEDATESIZE
Enzo
Oct 2025Led
$5 MSeed
yasp
Sep 2025Participated
$5 MSeed
Heidelberg Epignostix
Jul 2024Participated
$5 MSeed
Inovedis
Oct 2023Participated
$4 MSeries A
AZOWO
Nov 2022Participated
$10 MSeries A
Enzo
Oct 2025Led
$5 MSeed
yasp
Sep 2025Participated
$5 MSeed
Heidelberg Epignostix
Jul 2024Participated
$5 MSeed
Inovedis
Oct 2023Participated
$4 MSeries A
AZOWO
Nov 2022Participated
$10 MSeries A
5
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Insights

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Deal Distribution

Start-up BW: 5 funding rounds are recorded in the selected participation categories.All available history.
Start-up BW: 5 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed12
Series A02

Monthly Deal Activity

Start-up BW: 5 deals are recorded across 48 months.All available history.
Start-up BW: 5 deals are recorded across 48 months. All available history
MonthDeals
Nov '221
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '231
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '241
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '251
Oct '251
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Start-up BW: Health & Life Sciences is the largest displayed sector by deal count (2 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.

Start-up BW: Health & Life Sciences is the largest displayed sector by deal count (2 deals). All available history
SectorDeals
Health & Life Sciences2
AI & Machine Learning2
Networks, Cloud & Communication1
Enterprise Software1
Transportation & Logistics1

Deal Size Distribution

Start-up BW: 5 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.

Start-up BW: 5 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M4
$5M-$10M0
$10M-$25M1
$25M-$50M0
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Start-up BW: Europe has the largest recorded deal count among the displayed regions (5 deals).All available history.

Top 1 of 1 regions; European countries are grouped as Europe.

Start-up BW: Europe has the largest recorded deal count among the displayed regions (5 deals). All available history
RegionDeals
Europe5
Start-up BW: 12 co-investors are shown, with MBG Mittelstndische Beteiligungsgesellschaft Baden-Wrttemberg sharing 3 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.

Start-up BW: 12 co-investors are shown, with MBG Mittelstndische Beteiligungsgesellschaft Baden-Wrttemberg sharing 3 recorded deals. All available history
Co-investorShared deals
MBG Mittelstndische Beteiligungsgesellschaft Baden-Wrttemberg3
High-Tech Grunderfonds2
AEW Energie1
Better Ventures1
Capnamic Ventures1
Carma Fund1
EquityPitcher Ventures1
LBBW Venture Capital1
Project A1
Renolit1
Silence VC1
Volksbank Albstadt ChancenKapital1

Investment Strategy

Start-up BW: Led accounts for 20% and participating for 80% of round participation.All available history.
Start-up BW: Led accounts for 20% and participating for 80% of round participation. All available history
CategoryDeals (count)Share (%)
Led120%
Participating480%
Start-up BW: Single-lead accounts for 0% and co-led for 100% of lead dynamics.All available history.
Start-up BW: Single-lead accounts for 0% and co-led for 100% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led1100%

Team

Frank Hummler