b2venture hits €150 million hard cap for Fund V
b2venture, a Berlin-based early-stage venture capital firm, has closed its fifth fund at a €150 million hard cap, marking the firm’s largest early-stage vehicle to date. The new fund, dubbed Fund V, will be used to back roughly 35 early-stage startups across Europe, with a focus on scalable and defensible technologies and digital business models.
The close comes at a time when European venture capital has become more selective, with investors concentrating capital in fewer managers and demanding clearer paths to durable growth. Against that backdrop, the size and timing of b2venture’s raise places it among the more notable early-stage fund closings in the 2025–2026 cycle.
Backed by institutions and founders
Fund V is supported by a mix of returning and new backers. The investor roster includes institutional names such as asset manager Flexstone and Swiss pension fund Stiftung Abendrot, alongside entrepreneurs and operators drawn from the firm’s broader network. Among those cited are Thomas Hagemann of SevenSenders and long-time “super angels” including Joachim Schoss.
Florian Schweitzer, partner at b2venture, said the fund reflects a continuation of the firm’s long-term approach to venture investing. “b2venture to us quite literally means we are here to venture,” he said, pointing to the firm’s roots dating back to 2000 and what he described as an intergenerational continuity of investors working alongside decades of operating experience.
How Fund V fits into Europe’s VC fundraising cycle
b2venture’s close follows several other European early-stage raises that signal continued capital formation despite tougher market conditions. In January 2026, London-based 2150 announced a €210 million Fund II focused on urban systems and climate-driven technology, bringing its assets under management to about €500 million. Late 2025 also saw Backed VC reach an €86 million hard cap for its third fund, while Amsterdam-based Keen Venture Partners disclosed a raise for a dedicated DefenseTech fund reported at over €150 million.
Taken together, these vehicles represent approximately €596 million in recently raised capital across a handful of firms operating primarily at the Seed and Series A stages. b2venture stands out in that cohort for positioning itself as an industry-agnostic, community-driven investor rather than a specialist thematic fund.
A community model built around angels and operators
Founded in 2000 with origins in the Alpine corridor, b2venture says its investment philosophy is shaped by Swiss values and the principles of an “ehrbarer Kaufmann” (honourable merchant). The firm combines direct startup investments with fund investments and is supported by a community of more than 350 angel investors—founders, operators, and industry leaders who contribute capital, expertise, and networks.
Jan-Hendrik Bürk, partner at b2venture, described the approach as a differentiator in a market where capital alone is no longer sufficient. “Venture Capital is ultimately a people business,” he said. “What sets us apart is the depth of our angel community that helps us source, select and support founders building category-defining companies.”
The firm’s “intergenerational” model is designed to bring successful founders back into the ecosystem as investors after exits, recycling both capital and operational knowledge into new companies. b2venture integrates its angel community throughout sourcing, diligence, and post-investment support, framing the process as a craft emphasizing conviction and patience rather than high-volume dealmaking.
Track record and portfolio highlights
Over its history, b2venture reports backing at least one unicorn per fund and points to 11 IPOs and more than 30 trade sales. The firm’s portfolio includes companies such as DeepL, 1KOMMA5°, Raisin, SumUp, Nelly, and Urban Sports Club, as well as Araris Biotech and Neura Robotics, among others.
In 2025, the firm said it celebrated one IPO, Navan, and completed seven other exits, citing portfolio transactions involving Araris Biotech, Beekeeper, and Neptune, which it said was sold to OpenAI.
What Fund V will invest in
Fund V will pursue an industry-agnostic strategy while emphasizing scalable, defensible technologies. Florian Schweitzer said the firm is looking forward to partnering with “another 35 entrepreneurial teams” aiming to build category-defining companies over the coming decades.
The fund has already made several investments, including:
- Nautica Technologies – autonomous swarm robots offered via subscription for ship-hull cleaning
- Hive Robotics – an operating system for autonomous systems across air, land, and sea
- Augmented Industries – an AI-powered training platform aimed at closing manufacturing workforce skills gaps
- Assemblean – a production-as-a-service platform targeting faster and more cost-effective manufacturing of complex products
With €150 million committed, b2venture is positioning Fund V as a vehicle to help European startups navigate a more demanding funding environment—one where specialist knowledge, operator networks, and long-term support are increasingly critical to turning early traction into durable category leadership.
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