Fresh capital: These new VC funds are investing millions in German startups
German startups have already received billions from investors in 2025. In a European comparison, only British startups have received more money. According to Dealroom's latest Europe Tech Update, a total of €12.3 billion ($13.9 billion) flowed into European startups, of which €1.6 billion ($1.8 billion) went to Germany. Berlin and Munich are even among the top 10 most heavily funded European technology locations.
Startups received the most funding in Series A and B rounds, while large scale-up deals with US participation were lacking in Germany, according to the current KfW Venture Capital dashboard . Geopolitical uncertainties, such as those caused by the economic policy of the new US administration, are leading to uncertainty among consumers and investors and causing volatility in the public markets. However, the VC investment climate could benefit from the favorable interest rate environment in Europe.
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According to Pitchbook, European VCs raised only €5.2 billion in the first half of 2025—about half less than last year. New and specialized VC funds are positioning themselves in this environment, focusing specifically on technological innovations, sustainability, and digital transformation.
Among them is former Sequoia partner Matt Miller, who is launching a new $400 million fund for European tech startups in London with Evantic Capital. According to the Financial Times , Miller's fund is one of the largest solo European VCs—and Sequoia Capital is also on board. Miller left the Silicon Valley VC in early 2024 following a dispute at the financial startup Klarna, as reported by several media outlets, including Sifted .
He had attempted to oust the then Klarna Chairman and former Sequoia leader Michael Moritz, an attempt initially supported by Sequoia but later abandoned. Miller had previously been instrumental in Sequoia's expansion into Europe.
Here is a list of 18 new funds currently investing in German startups:
- Headquarters : Karlsruhe, Germany
- Geographical focus : DACH region and Europe
- Thematic focus : Deeptech, AI, Climate Tech, Industrial Tech, Dev Tools
- Stage : Pre-Seed
- Current fund size : 35 million euros
- Well-known portfolio companies : Quantum Diamonds, Unikraft, Octomind, Dive Solutions
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