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HV Capital Manager

Venture capital firm backing European founders

Overview

HV Capital backs European founders from pre-seed through growth via separate Venture and Growth funds. The firm, headquartered in Munich with offices in Berlin and a presence in London, has a long history dating back to 2000 as the venture arm of the Holtzbrinck publishing group and rebranded to HV Capital in 2020. It closed its ninth fund generation at €710 million in 2023 and launched Germany’s first VC continuation fund, HV Coco Growth, in 2022. Its portfolio includes Zalando, Delivery Hero, HelloFresh, FlixBus, SumUp, n8n, Framer and Enpal. HV Capital supports founders with capital and network across the startup lifecycle, aiming to help European tech companies scale from early stages to growth and, over time, deliver strong returns for its investors. Its differentiated approach comes from combining early-stage and growth investing under separate funds, maintaining a long-term angle through continuation vehicles, and leveraging its established European network and track record.

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About HV Capital Manager

Simplify's Rating
Why HV Capital Manager is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Venture CapitalFinancial Services

Company Size

201-500

Company Stage

N/A

Total Funding

$13.7B

Headquarters

Munich, Germany

Founded

2000

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Simplify's Take

What believers are saying

  • Quantum Systems raised $1.2 billion in July 2026, validating HV's defense thesis.
  • Neura Robotics raised $1.4 billion in June 2026, and Isar Aerospace raised €270 million.
  • HV exited Dance to Swapfiets and Plan A to Diginex in 2026.

What critics are saying

  • Quantum Systems and Neura concentrate returns in capital-intensive defense and robotics bets.
  • HV's model relies on mega-round momentum; 2026 funding slumps compress marks and exits.
  • If AI and deep-tech winners stall, HV's continuation-fund strategy traps aging positions.

What makes HV Capital Manager unique

  • HV Capital became Germany's first fully BaFin-regulated VC in 2023.
  • Fund IX and HV Coco give HV decade-long ownership through growth-stage follow-ons.
  • HV backs Europe from seed through growth, spanning AI, defense, fintech, and consumer.

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Funding

Total Funding

$13.7B

Above

Industry Average

Funded Over

0 Rounds

Benefits

  • Commuter Benefits

Company News

Flip
Oct 16th, 2026
Flip secures $28 million Series A extension | Flip

Flip secures $28 million Series A extension to expand new AI-powered capabilities for deskless workers

Vestbee
Oct 16th, 2026
Rabot Energy raises $50M Series B to build a virtual power plant.

Rabot Energy raises $50M Series B to build a virtual power plant. German firm Rabot Energy, a provider of dynamic electricity tariffs, has raised $50 million in a Series B funding round led by Endeit, with participation from DeepTech & Climate Fonds (DTCF) and existing investors HV Capital, High-Tech Gründerfonds (HTGF), Bosch Ventures, CNI, Acurio Ventures, and vent.io. * Founded in 2021, Rabot Energy offers dynamic electricity tariffs that help households and businesses lower energy costs by shifting consumption to periods with cheaper electricity and greater renewable energy availability. * Its technology enables connected home batteries to store electricity when supply is high and release it when demand increases. * The company serves more than 200,000 customers, including around 15,000 commercial and industrial clients, and has reported €200 million in revenue. * In June 2026, Rabot Energy launched Rabot Flow, combining a dynamic tariff, a smart meter, and plug-and-play home battery storage. The company says the solution can cut household energy costs by 15% without requiring rooftop solar panels. * Rabot Energy is also developing a virtual power plant (VPP) that coordinates connected batteries across households to improve grid flexibility. Details of the deal. * With the fresh capital, Rabot Energy aims to expand across Germany, further develop its technology platform, and integrate additional energy devices, including home batteries, electric vehicle chargers, and heat pumps. * The firm also plans to expand its services for residential, commercial, and industrial customers, with a target of reaching one million customers.

Tech Funding News
Oct 15th, 2026
Rabot Energy raises $50M Series B to turn home batteries into a virtual power plant

Hamburg climate tech startup Rabot Energy has raised $50 million in Series B funding, led by Endeit Capital. The money will help it reach one million customers by linking home batteries into a virtual power plant. Germany's DeepTech & Climate Fonds and existing investors HV, High-Tech Gründerfonds, Bosch Ventures, CNI, Acurio Ventures, and vent.io also took part. Rabot's batteries charge when renewable energy is abundant and discharge when it is scarce. Its customer base has grown from 35,000 in January 2024 to more than 200,000. The company will also expand services for homes and businesses in Germany, and connect more devices, including electric vehicle chargers and heat pumps.

Caplight
Oct 10th, 2026
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Explore Omnidock valuation and funding history on Caplight. Research private-market stock with pricing context, where available.

Sifted
Oct 7th, 2026
Owkin alum raises $25m seed to build world model for human cells

The Paris-based startup is building an automated wet lab to generate high-quality data at scale about human cell behaviour

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