b2venture Research
Investment Thesis
b2venture (formerly btov Partners) is one of Europe's most experienced early-stage venture investors, tracing its roots back more than 20 years to an online platform for angel investors before evolving into an institutional VC. The firm's core thesis is "leveraging the power of generations": it backs outlier entrepreneurs at the earliest stages, helps them scale to IPO or major exit, and then welcomes successful founders back into its angel investor community to fund the next generation. This creates a self-reinforcing flywheel of capital, mentorship, and deal flow uniquely tied to Europe's strongest angel network. The firm explicitly describes its mission as "backing the unique, the mavericks, the outliers."
Sector Focus
b2venture is a generalist early-stage investor with a strong European deep-tech and enterprise tilt. Recent and historical portfolio activity spans fintech/payments (SumUp, Raisin, Ledgy), healthtech (Nelly, Everlab, Yendou, Araris Biotech, eGenesis, Amplifold, Kiin), AI/enterprise software (DeepL, Neptune, LatticeFlow, Calvin Risk, TextCortex), robotics and industrial automation (Hive Robotics, Sitegeist, Nautica Technologies, Augmented Industries/Flow Tool, assemblean), climate/energy (Marvel Fusion, Orus Energy, Evoltio, 1KOMMA5°), logistics/supply chain (Sennder, Seven Senders, VESTIGAS, Procuros), proptech/ESG (Predium, Atlas Metrics), aerospace (PAVE Space, The Exploration Company), mobility (Blacklane), and edtech (Edurino).
Stage Focus
b2venture invests at Pre-Seed, Seed, and Series A, with willingness to participate meaningfully in follow-on rounds through later stages as companies scale (it has backed several portfolio companies from seed through Series D/G and IPO-track growth, e.g. SumUp, Raisin, DeepL).
Check Size
Per the firm's own FAQ, typical ticket sizes range from EUR 250,000 to EUR 5,000,000, with an average ticket of roughly EUR 1,000,000. The firm is prepared to invest significantly in follow-on financing rounds at later stages.
Lead Tendency
b2venture operates a distinctive two-track model: dedicated funds run by dedicated fund teams, plus a "Direct Investments" track staffed by an independent investment team that pools individual capital from its angel community. The firm both leads (e.g., Ledgy pre-seed, Procuros pre-seed, Nelly seed co-lead, Nautica Technologies) and follows/co-invests alongside its angel network and other lead investors, so lead tendency is best characterized as "both."
Recent Activity
b2venture has been very active through 2025 and into 2026: Everlab raised an AUD 65M Series A (June 2026); Uber agreed to acquire portfolio company Blacklane (March 2026); OpenAI acquired portfolio company Neptune, an AI research tooling platform (December 2025); Marvel Fusion raised an additional ~€50M (March 2025); Taiho Pharmaceutical acquired Araris Biotech (March 2025); Nelly raised $51M (January 2025); and assemblean raised €1.8M (February 2025). The firm continues to close new funds, with Fund V reported at a EUR 150M hard cap to support the next generation of European tech leaders.
Portfolio Highlights
Notable exits and milestones include Uber's acquisition of Blacklane, OpenAI's acquisition of Neptune, Taiho Pharmaceutical's acquisition of Araris Biotech, and Urban Sports Club's acquisition of myClubs. Marquee active portfolio companies include DeepL (AI translation, ~$2B+ valuation), SumUp (global payments, 4M+ merchants), Raisin (savings/investment marketplace, €50bn+ AUM), Ledgy (equity management, backed by Sequoia and NEA), Sennder (digital freight forwarding), and 1KOMMA5° (European energy transition unicorn).
Team
b2venture's investment team includes:
- Florian Schweitzer, Founding Partner
- Andreas Goeldi, Partner
- Christian Schütz, Partner
- Dr. Friederike Hoffmann, Partner (Direct Investments team)
- Gerrit Jurilj, Partner
- Jan-Hendrik Bürk, Partner
- Mathias Ockenfels, Partner
- Sven Eppert, Partner & CFO
- Anna Bosch, Principal
- Sabrina Stöckl, Principal
- Anna Rösler, Head of Platform
- Karim El-Ghawi, Product Lead
- Jasper Strohkark, Investment Manager
- Selina Neumann, Investment Manager
- Marie Schwertner, Associate
- Valentin Wierse, Associate
- Isabel Eberhardt, Analyst
Decision Process
Per the firm's published process: after materials are submitted, the team evaluates fit with investment strategy, arranges an initial meeting/call, followed by a deeper second conversation (sometimes with additional investment team members), reference calls, and a decision in the weekly investment team meeting. The process is run as a partnership decision, taking anywhere from a couple of weeks to a few months, with feedback always provided to founders.
Founder Preferences
b2venture favors technical and mission-driven founders building in deep tech, fintech, healthtech, climate, and enterprise AI, and places heavy emphasis on long-term partnership: "entrepreneurs are not just raising capital but hiring partners for the long-term." The firm values founders willing to engage with and eventually give back to its angel community.
Geographic Focus
b2venture is Europe-focused, with an emphasis on the German-speaking DACH region. It maintains offices in Berlin, Munich, and Luxembourg (Germany/Luxembourg), plus Zurich and St. Gallen (Switzerland). It will invest outside Europe selectively when partnering with a trusted local lead investor.