European venture capital firm b2venture has successfully closed its fifth and largest fund to date, securing a $178 Million hard cap. This new fund will target approximately 35 early-stage technology startups across the continent, with a significant focus on deeptech sectors. The firm will continue to leverage its distinctive investment model, which blends institutional capital with a vast network of experienced angel investors.
A Community-Driven Investment Philosophy
At the core of b2venture's strategy is its network of over 350 angel investors who provide hands-on operational expertise. This community offers founders targeted support, from customer introductions to strategic guidance on product and regulatory challenges. With Fund V, the firm aims to make this collaboration even more structured, faster, and more outcome-driven for its portfolio companies.
The firm champions an intergenerational model where exited founders reinvest their capital and experience back into the ecosystem. This approach fosters a cycle of mentorship and support, ensuring continuity and a long-term perspective across its 25-year history. This durable, community-based philosophy has been a cornerstone of the firm's success through multiple market cycles.
Strategic Focus and Early Investments
Fund V will pursue an industry-agnostic strategy with a clear emphasis on scalable and defensible deeptech innovations. Key areas of interest include robotics, artificial intelligence, advanced manufacturing, and core B2B infrastructure platforms. To better source these opportunities, the firm is significantly expanding its presence in Munich, a hub for technical talent.
The expansion into Munich is part of a broader strategy to tap into the "alpine belt" of leading technical universities. b2venture anticipates a rise in hardware-centric companies from this region that can scale rapidly when combined with modern AI and software. This geographical focus positions the firm to identify and support the next wave of European deeptech leaders.
The fund has already made several investments that reflect its strategic direction, backing companies building complex autonomous systems. Portfolio additions include Nautica Technologies, which develops underwater robotics, and Hive Robotics, an operating system for autonomous drones and rovers. These early bets underscore the firm's commitment to modernizing industrial workflows through cutting-edge technology.
Investor Confidence and Firm Evolution
The fund was raised in approximately one year, attracting new institutional limited partners such as asset manager Flexstone. Notably, the Swiss pension fund Stiftung Abendrot also joined, a milestone that signals growing confidence from traditional institutions in European venture capital. The firm's strong track record, including numerous successful exits, was a key factor in securing investor commitments.
Alongside the new fund, b2venture is managing its own generational transition to ensure long-term stability. Partner Jochen Gutbrod is moving into the angel network, while the firm has established a clear succession model for its younger partners. This proactive approach to leadership evolution has become an important topic in discussions with limited partners.
With the closing of its $178 Million Fund V, b2venture is strongly positioned to continue its mission of nurturing Europe's most promising technology companies. By combining its unique community-driven model with a sharpened focus on deeptech and a strategic geographical expansion, the firm is set to build on its 25-year legacy. This new chapter reinforces its commitment to providing long-term, value-added support to the next generation of innovators.