Firms

468 Capital

Berlin, DE

468cap.com

signal.nfx.com

goldi.ai

Technology venture firm founded in 2020, historically investing from pre-seed through Series B across Europe and the US. Its dated January 2022 announcement reports USD400m Fund II. December 2025 reporting describes a restructuring of the legacy flagship funds and separate Global Opportunities responsibility; current new-investment availability and mandate across those vehicles require confirmation. Historical strategy is retained with this limitation.

Founded: 2020
Type: Venture capital

Funds3

Fund II2022-01-312022-01-31$400M
ApproximatelyUSD400M closedcapitalcommitments;2025-12-30restructuringreported, no newfundpreviousform. Historical1.3BcapitalincludesSPACs, notAUM.
468 Global Opportunities20222022—
NearlyEUR50M reported2025-12-30, launched2022 emergingmarketsvehicle; exactsize/finalclosedateunknown. Kudlichresponsibilityreportedunderrestructuring.
Fund I20202020—
ApproximatelyEUR170M/USD200Mfirm2022history vsEUR180MHandelsblatt2025report; finalsizeconflict unresolved amountnull; nottwofunds.

Team

Philipp Seifert 468 Capital, partner	$25M$10M – $100M	San Francisco Bay Area
Bardo Droege 468 Capital, investor	$2M$500K – $5M	Berlin, Germany
Ludwig Ensthaler 468 Capital, general_partner	$2M$500K – $5M	Berlin, Germany
Johannes Böllhoff 468 Capital, investor	$2M$500K – $5M	Germany
Alexander Kudlich 468 Capital, general_partner	$1M$100K – $1M	Berlin, Germany
Bardo Droge 468 Capital, investor	$1M$100K – $1M	Berlin, Germany
Helene Schröcksnadel 468 Capital, investor	$1M$100K – $5M	Berlin, Germany
Florian Leibert 468 Capital, general_partner	$1M$100K – $1M	San Francisco, California
Mark Pols 468 Capital, investor	$25K$10K – $50K	San Francisco Bay Area
Christoph Rusch 468 Capital, Venture Capital	—— – —
Jonas Kern 468 Capital, Investor	—— – —

Investments

$—2022-01-12	CereGate	468 Capital, re.Mind Capital, TruVenturo, Heal Capital, High-Tech Gründerfonds
$—2026-07-07	ARC Intelligence	468 Capital
$105M2026-04-14	Sygaldry	Y Combinator, 468 Capital, Overmatch Ventures, Morpheus Ventures, QDNL Participations, University of Michigan
$—2026	Tools for the Commons	468 Capital
$5M2026	Pally	Y Combinator, Founders Inc, Pioneer Fund, 468 Capital
$—2025-10-31	Adam	468 Capital
$10M2025-10-09	Vulcan Technologies	General Catalyst, 468 Capital, Liquid 2 Ventures, Transpose Platform, Y Combinator, A*
$10M2025-10-09	Vulcan Technologies, Inc	General Catalyst, 468 Capital, Liquid 2 Ventures, Transpose Platform, Y Combinator, A*
$38M2025-09-08	Motion	Y Combinator, Scale Venture Partners, 468 Capital, Apollo Projects, Leo Capital, Z Fellows, HOF Capital
$48M2025-08-05	Alaan	Y Combinator, Pioneer Fund, 468 Capital, Peak XV Partners, Ludwig Ensthaler
$4M2025-07-11	Apolink	Y Combinator, 468 Capital, Rebel Fund, Unshackled Ventures, Morado Ventures
$11M2025-06-04	Jua	Future Energy Ventures, 468 Capital
$5M2025-04-08	HoneyHive	468 Capital, Zero Prime Ventures
$—2025-03-03	Needle	468 Capital
$—2025-02-20	Bliro	468 Capital
$3M2025	Tegore	Y Combinator, Goodwater Capital, 468 Capital
$3M2025	Educato	Y Combinator, Goodwater Capital, 468 Capital
$5M2025	Firstwork	Y Combinator, 468 Capital, Soma Capital, Gradient Ventures, Houghton Street Ventures
$6M2025	Albacore	Y Combinator, Alumni Ventures, Pioneer Fund, 468 Capital, BoxGroup, Heliad AG
€1M2024-12-12	ARC Intelligence	468 Capital, IBB Ventures
$—2024-10-02	DinMo	468 Capital
$—2024-08-30	Assetbird	468 Capital
$40M2024-08-20	AstroForge	Y Combinator, 468 Capital, Initialized Capital, Uncorrelated Ventures, Nova Threshold
$8M2024-08	Turntable Labs	Founders Fund, 468 Capital, Elizabeth Street Ventures, f7 Ventures
$10M2024-07-03	Cartken	468 Capital
$—2024-05-22	Karri	468 Capital
$18M2024-05-17	Codesphere	Creandum, 468 Capital, Begin Capital, 42CAP, LEA Partners
$4M2024-04-26	Yoneda Labs	Khosla Ventures, 468 Capital, Y Combinator, e2vc
$—2024-04-24	UserHub	468 Capital
$4M2024-03-25	YonedaLabs	Khosla Ventures, Kaya VC, 468 Capital
$—2024-03-15	Acto	468 Capital
$3M2024-02-21	VectorShift	Y Combinator, 1984 Ventures, Defy, Pioneer Fund, 468 Capital, Formus Capital
$16M2024-02-09	Jua	468 Capital, Notion Capital
$—2024-02-05	Oobit	468 Capital
$16M2024-02-05	Jua	468 Capital, Notion Capital, Ludwig Ensthaler
$—2024-01-09	Einwert	468 Capital
$8M2024	Hangout	Founders Fund, 468 Capital, Elizabeth Street Ventures, Polaris Partners, f7 Ventures
$8M2024	Turntable Labs	Founders Fund, 468 Capital, Elizabeth Street Ventures, Polaris Partners, f7 Ventures
$—2023-12-13	Pave Bank	468 Capital
$3M2023-12-12	Xeol	Y Combinator, 468 Capital, Shield Capital
$—2023-10-10	DYNO	468 Capital
$—2023-09-27	metergrid	468 Capital
$—2023-08-31	Askui	468 Capital
$7M2023-06-21	CleanHub	Lakestar, 468 Capital, Daniel Bartus, Mathias Haniel
$—2023-06-05	Fixably	468 Capital
$—2023-05-23	Minoa	468 Capital
$—2023-04-17	Razor Group	468 Capital, Redalpine
$6M2023	Earthly	468 Capital, Innovation Endeavors
$—2022-12-22	Razor Group	468 Capital
$—2022-12-07	Ostrom	468 Capital
$—2022-09-26	workist	Earlybird Venture Capital, 468 Capital
$—2022-08-04	Ghost Security	468 Capital
$—2022-07-14	Lilo	468 Capital
$—2022-06-21	Bardeen	468 Capital
$4M2022-05-25	Aklivity	468 Capital, Pear VC
$—2022-05-18	Bamba	468 Capital
$11M2022-04-21	Klima	468 Capital, HV Capital, Jan Miczaika
$—2022-03-01	Zero	468 Capital
$4M2022-02-24	Karla	468 Capital, Florian Gschwandtner
$34M2022-01-27	MAYD	Lightspeed, Earlybird Venture Capital, 468 Capital, Target Global
$—2022-01-20	Codesphere	468 Capital
$—2022-01-14	Superchat	468 Capital
$20M2022-01-12	Arive	Founders Fund, Balderton Capital, Burda Principal Investments, 468 Capital, La Famiglia
$—2022-01-11	Ostrom	Founders Fund, J2 Ventures, 468 Capital
$—2022-01-10	Ostrom	Founders Fund, Global Founders Capital, 468 Capital
$—2022	Frequenz	468 Capital
€60M2022	CustomCells	468 Capital, Vsquared Ventures
$200M2022	Zapp	Lightspeed, BroadLight Capital, 468 Capital, Atomico, Vorwerk Ventures
$—2021-11-08	Razor Group	468 Capital, Redalpine
$—2021-11-02	Activeloop	468 Capital
$3M2021-10-25	Pop Market	Founders Fund, 468 Capital
$15M2021-10-14	MAYD	468 Capital, Earlybird Venture Capital
$—2021-09-02	Arive	468 Capital, Balderton Capital
$—2021-09-01	Linearity	468 Capital
$—2021-08-18	Rapid Robotics	468 Capital
$—2021-06-02	Iterative.ai	468 Capital, Afore Capital
$—2021-05-04	Razor Group	Founders Fund, FJ Labs, Victory Park Capital Advisors, LLC, 468 Capital, Redalpine, BlackRock Private Equity Partners
$—2021-04-06	Rapid Robotics	468 Capital
$—2021-03	Zapp	468 Capital
$—2021	Rapid Robotics	468 Capital
$—2021	Informed	468 Capital
$—2021	Cloudnatix	468 Capital
$6M2021	Blair	Y Combinator, 468 Capital, Tiger Global Management, LLC, Rainfall Ventures
$—2020-11-17	Cooper Parenting	468 Capital
$26M2020-06-23	Rasa	468 Capital, Accel, Chris Lyons, Martin Casado, Lan Xuezhao
$—Unknown date	Twentyfour Industries	468 Capital
$—Unknown date	Terra One	468 Capital
$—Unknown date	Talentspace	468 Capital
$—Unknown date	Sixty AI	468 Capital
$—Unknown date	Sixty	468 Capital
$—Unknown date	Niko	468 Capital
$—Unknown date	goodcarbon	468 Capital
$—Unknown date	felmo	468 Capital
$—Unknown date	Earthly Technologies	468 Capital
$—Unknown date	Cata	468 Capital
$3MUnknown date	Mindfort	Y Combinator, BLAST, CRV, 468 Capital, Soma Capital
$2MUnknown date	Relixir	Y Combinator, 468 Capital, z21 Ventures, DG Daiwa Ventures
$4MUnknown date	Bifrost Orbital	Y Combinator, 468 Capital, Rebel Fund, Unshackled Ventures
$500KUnknown date	Waypoint Transit	Y Combinator, 468 Capital
$6MUnknown date	Lyra	Y Combinator, 468 Capital, Transpose Platform, Rebel Fund
$3MUnknown date	Autosana	Y Combinator, Pioneer Fund, 468 Capital, Phosphor Capital, DeVC
$6MUnknown date	Rocketable	Y Combinator, 468 Capital, Unpopular Ventures, True Ventures, Rebel Fund, Tekedia Capital
$1MUnknown date	Monarcha, Inc	Y Combinator, 468 Capital
$45MUnknown date	Poetiq	Y Combinator, Operator Collective, Fyrfly Venture Partners, 468 Capital, Surface Ventures
$3MUnknown date	BlindPay	Y Combinator, 468 Capital, Circle Ventures
$2MUnknown date	Gale	Y Combinator, 468 Capital, Axiom Partners
$25MUnknown date	Kombo	Y Combinator, 468 Capital, #ANGELS
$6MUnknown date	Lyra	Y Combinator, 468 Capital, Transpose Platform, Rebel Fund
$1MUnknown date	Wasp	Lunar Ventures, 468 Capital, HV Capital
$1MUnknown date	Wasp	Lunar Ventures, 468 Capital, Y Combinator, HV Capital
$200MUnknown date	Zapp	Lightspeed, BroadLight Capital, 468 Capital, Atomico, Vorwerk Ventures, Burda
$8MUnknown date	Bubbles	Khosla Ventures, 468 Capital, Streamlined Ventures, Craft Ventures, Correlation Ventures
$2MUnknown date	RemNote	General Catalyst, 468 Capital, Dorm Room Fund
$8MUnknown date	Turntable Labs	Founders Fund, 468 Capital, Elizabeth Street Ventures, f7 Ventures
$8MUnknown date	Hangout FM	Founders Fund, 468 Capital, Elizabeth Street Ventures, f7 Ventures
$—2022-06-21	Bardeen.ai	468 Capital
$—2022-03-02	Alaanpay	468 Capital
$—2021	Vectornator	468 Capital
$—Unknown date	Workist GmbH	468 Capital
$—Unknown date	Synthesis AI, Inc.	468 Capital
$—Unknown date	OneLot	468 Capital
$—Unknown date	Niko Energy	468 Capital
$—Unknown date	Jua.ai	468 Capital
$—Unknown date	Customcells Group	468 Capital
$—Unknown date	asistensi	468 Capital

team@apexlogos.ai23 hours ago
Investment-fund research reviewed 2026-10-06. Publicly identified funds, dates, amounts and fundraising status are below. Undisclosed commitments remain unknown; this is not a complete register of private SPVs or parallel entities. Funds and current status | Vehicle / metric | Supported size, vintage and status | Evidence and caveat | | --- | --- | --- | | Fund I | About **€170 million / $200 million** raised in mid-2020, as described by the firm's 2022 article. Handelsblatt later reports **€180 million** for the 2020 fund. | [468 Capital article, 2022-01-31](https://468cap.com/468-capital-raises-400-million-to-back-european-startups/); [Handelsblatt, 2025-12-30](https://www.handelsblatt.com/technik/it-internet/468-capital-der-risikokapitalgeber-stellt-sich-neu-auf/100187171.html). Different reporting dates/rounding or subsequent close may explain the difference; final-close reconciliation not established. Do not treat the dollar figure as an additional fund. | | Fund II | **Approximately US$400 million in capital commitments**, closing announced **2022-01-31**; exceeded target, so a close rather than an open fundraising target. | [Firm-issued Business Wire release reproduced by MarketScreener, 2022-01-31](https://www.marketscreener.com/news/latest/468-Capital-Raises-400-Million-Fund-II-37698526/); [468 Capital's article](https://468cap.com/468-capital-raises-400-million-to-back-european-startups/). Latest large flagship fund verified here; no verified Fund III close found. | | 468 Global Opportunities (GO) | **Nearly €50 million**, launched 2022, emerging-market focus, according to December 2025 reporting. | [Handelsblatt, 2025-12-30](https://www.handelsblatt.com/technik/it-internet/468-capital-der-risikokapitalgeber-stellt-sich-neu-auf/100187171.html). Reporting supports existence and reported scale; precise final close date and exact commitments not verified. | | Total capital raised | The January 2022 release claimed **$1.3 billion raised since inception** and also discussed two SPACs. | [MarketScreener / Business Wire release](https://www.marketscreener.com/news/latest/468-Capital-Raises-400-Million-Fund-II-37698526/). This is an organization-level historical fundraising statement, **not confirmed present venture AUM**. Do not combine SPAC proceeds and VC fund commitments into Fund II. | **Material current-status development:** Handelsblatt's 2025-12-30 report, based on a letter to LPs, says no new fund would be launched in the previous form; Ensthaler and Leibert would oversee existing Fund I/II portfolio businesses, and Kudlich would take responsibility for GO. This is restructuring reporting, not evidence that every vehicle stopped investing or that the firm ceased to exist. [Source](https://www.handelsblatt.com/technik/it-internet/468-capital-der-risikokapitalgeber-stellt-sich-neu-auf/100187171.html). An undated, search-readable [Diogo Cunha LinkedIn post](https://www.linkedin.com/posts/diogococunha_2025-was-a-phenomenal-year-at-our-468-capital-activity-7413898365899423744-u1IQ) describes GO's 2025 investments and interest in pre-product founders for 2026. This is useful first-person context but not a dated formal mandate or confirmation of flagship new-investment availability. Funds recorded in Adex after this review: | Fund | Disclosed amount | Announcement / filing date | | --- | --- | --- | | Fund I | Undisclosed / unverified | 2020 | | 468 Global Opportunities | Undisclosed / unverified | 2022 | | Fund II | USD 400000000 | 2022-01-31 |
team@apexlogos.ai24 hours ago
Match research 2026-10-06 / Firm468Capital / sha256:ca42fc0338f4fd45af5720b29a577c99f9f53a74844e5fa74656ab0ce57a3896 / part 2 of 2 Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats. | **Rapid Robotics** — ready-to-work industrial robotic machine operators. | Official company release names 468 as an existing investor participating in **$36.7 million Series B**, **2021-08-18**, led by Kleiner Perkins and Tiger Global. | [Company-issued GlobeNewswire release](https://www.globenewswire.com/news-release/2021/08/18/2282774/0/en/Kleiner-Perkins-Tiger-Global-Lead-Series-B-Investment-in-Rapid-Robotics.html); [468 portfolio entry](https://468cap.com/all_portfolio/rapid-robotics/) (dated 2023-11-24, a portfolio-page date, not the investment date). | | **Customcells** — Fraunhofer spinout engineering specialty lithium-ion cells, including electric aviation applications. | Transaction adviser confirms 468 invested alongside Vsquared and Porsche in a 2021 financing (size described only as millions); announcement **2021-08-13**. Lead investor's announcement explicitly includes 468 in **€60 million Series A** in December 2022. | [GvW adviser announcement](https://www.gvw.com/aktuelles/pressemitteilungen/detail/lithium-ionen-batterien-gvw-begleitet-vsquared-ventures-und-468-capital-bei-customcells-finanzierungsrunde); [World Fund official Series A release](https://www.worldfund.vc/articles/customcells-raises-60-million-dollar-series) (undated live page; 2022 chronology and December timing corroborated by [TechCrunch, 2022-12-07](https://techcrunch.com/2022/12/07/porsche-world-fund-join-63m-bet-on-batteries-for-electric-planes/)). World Fund's URL says dollar but body says **euros**; use body. The bullet summary omits 468, but the detailed investor paragraph includes it. | | **Jua** — proprietary physical-world AI/Earth simulation model, weather/energy prediction; a technical-model thesis rather than ordinary business SaaS. | Company confirms 468 as a returning supporter of **$11 million Series A closed**, **2025-06-04**, co-led by Ananda Impact Ventures and Future Energy Ventures; 468 is not identified as lead. | [Jua founder/CEO official announcement](https://jua.ai/blog/series-a-announcement/). Snapshot contains several Jua/Jua.ai records and amounts across dates: avoid duplicate counting or replacing a 2024 round with the distinct 2025 financing. | | **CereGate** — computer-brain-interface software and neuromodulation; direct neurotech and deep tech. | Co-led financing by 468 and re.Mind announced **2022-01-12**, amount/stage undisclosed. | [HTGF official announcement](https://www.htgf.de/en/htgf-financing-ceregate/); details below. | These are verified examples, not a complete technical-portfolio census. Other snapshot leads such as AstroForge, Yoneda Labs and Sygaldry were not independently verified here and should not be promoted solely from aggregator co-investor associations. ## Previous neurotech investment **CereGate — verified direct neurotechnology.** On **2022-01-12**, co-investor HTGF announced financing led by new investors **468 Capital and re.Mind**, with existing TruVenturo, Heal Capital and HTGF participating. The company develops software for computer-brain interfaces, including communication through neuromodulation systems. The announcement describes clinical development of a deep-brain-stimulation application for freezing of gait and intended applications on spinal-cord-stimulation platforms. It also reports FDA Breakthrough designation and a US clinical trial at that time; those are historical announcement claims, not independently checked present regulatory status or approval. Amount and numbered round stage are not disclosed. [HTGF official financing announcement](https://www.htgf.de/en/htgf-financing-ceregate/). This is firm-level attribution, not a partner's investment at a former employer. The neural stimulation/interface technology makes it direct neurotech rather than mental-health services or general-purpose AI. No additional direct neurotech investment was verified in the sources checked; the result is not a claim that CereGate is its only such investment. ## Conflicts, gaps and later Adex review notes - **Add/review CereGate as a missing lead**, with firm-level co-lead attribution and 2022-01-12 date; leave amount/stage unknown without another source. - **Review current firm description and availability** against the December 2025 restructuring. Preserve historical strategy but do not assume an active new flagship fund or identical mandate across GO and legacy vehicles. - **Fund I discrepancy:** €170 million in 2022 firm coverage versus €180 million in 2025 reporting. Retain both dates/attributions pending close documents. Fund II is $400 million closed commitments; GO is a separately reported nearly €50 million vehicle. Current AUM, exact GO close, reserves and available deployment capital remain unknown. - **Investment duplication/amount semantics:** the snapshot has many aliases and repeats. Some records put full round totals into participation `amount`; no evidence here supports treating those as 468's checks. Review Jua, Customcells, Bardeen and Sixty aliases before any merge. Do not infer identity solely from a similar name. - **Team staleness:** Signal profile headers and timelines conflict, and Bardo Droge/Droege variants appear in both sources. Current employment and roles need official dated checks. Do not import partner historical/personal investments as firm investments. - The official homepage returned almost no readable body through the browser tool, but specific firm portfolio/news pages were accessible. Signal firm and named profiles were directly read; Google sign-in functions were not accessed. A search surfaced a YPOG February 2022 fund structuring PDF, but direct retrieval returned 404; it was not used as decisive evidence. - This file verifies selected relevant investments and fund/status information, not every one of the snapshot's 123 participation records, current portfolio ownership, investee solvency or present technical/regulatory performance. Company and co-investor releases verify disclosed transactions; their product-performance claims remain issuer claims. All linked sources were accessed 2026-10-06. Publication dates are attached where available; undated live pages and social-profile claims are identified explicitly.
team@apexlogos.ai24 hours ago
Match research 2026-10-06 / Firm468Capital / sha256:ca42fc0338f4fd45af5720b29a577c99f9f53a74844e5fa74656ab0ce57a3896 / part 1 of 2 Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats. # 468 Capital — Firm468Capital - Exact Adex ID: `Firm468Capital`. - Adex webpage: https://adex.page/firms/Firm468Capital. - Research date and access date for every external source below: **2026-10-06**. - Status: **complete research review**, with unresolved items explicitly identified; research only, no Adex changes. 468 Capital is a technology venture firm founded in 2020 by Alexander Kudlich, Florian Leibert and Ludwig Ensthaler. Official investee materials identify offices in Berlin and San Francisco. Its record includes industrial robotics, battery-cell engineering, physical-world AI and a verified direct neurotechnology investment, CereGate. Its historical pre-seed–Series B strategy needs a current-status caveat: Handelsblatt reported a restructuring in December 2025 and no new fund under the previous organizational form. [Cartken announcement, 2024-07-03](https://www.cartken.com/press-release/cartken-announces-22-5m-in-aggregate-funding-to-advance-ai-based-technology-stack-enabling-autonomous-delivery-robots); [HTGF, 2022-01-12](https://www.htgf.de/en/htgf-financing-ceregate/); [Handelsblatt, 2025-12-30](https://www.handelsblatt.com/technik/it-internet/468-capital-der-risikokapitalgeber-stellt-sich-neu-auf/100187171.html). ## Starting evidence: Adex and NFX Signal The exact-ID saved snapshot `data/research/_sources/Firm468Capital.adex.json`, retrieved 2026-10-06, names 468 Capital, founded 2020, Berlin, and describes investment from day zero through Series B in AI/automation, enterprise software, energy transition and consumer technology. It claims a January 2022 approximately $400 million second fund. `investorProfile` check minimum, maximum and sweet spot are null. There are **123 participation records**, including repetitions across names (e.g. CustomCells/Customcells Group, Yoneda Labs/YonedaLabs, Bardeen/Bardeen.ai, Sixty/Sixty AI); numerous claims use Goldi co-investor pages and other aggregators. CereGate was not found in that participation list. The snapshot is a starting lead, not independent verification. The [NFX Signal firm page](https://signal.nfx.com/firms/468-capital) was directly read. Its public text identifies founding year 2020 and locations including San Francisco, Menlo Park and Berlin; the visible content largely consists of a co-investor list, not a dated investment-policy statement or verifiable deal ledger. No login was used; intro paths and parts of network data require login. Two related Signal profiles were also directly read (undated): [Bardo Droge](https://signal.nfx.com/investors/bardo-droge) lists $100,000–$1.5 million investment range, $1.5 million sweet spot, $400 million current fund size, and seed/Series A/Series B enterprise and consumer rankings. [Johannes Böllhoff](https://signal.nfx.com/investors/johannes-bollhoff) lists $500,000–$5 million range, $2.5 million sweet spot, $400 million fund size, and seed/Series A rankings. **These are person-profile claims, not a verified firm-wide check policy.** Johannes's own experience says investment team 2021–2022 although the header presents him as a current investor, illustrating staleness. Signal and the snapshot both expose Bardo name variants; do not create additional people solely on these variants. Historical deals associated with a partner's current employer, especially before 2020, cannot be attributed to this firm without a dated firm-specific announcement. ## Funds and current status | Vehicle / metric | Supported size, vintage and status | Evidence and caveat | | --- | --- | --- | | Fund I | About **€170 million / $200 million** raised in mid-2020, as described by the firm's 2022 article. Handelsblatt later reports **€180 million** for the 2020 fund. | [468 Capital article, 2022-01-31](https://468cap.com/468-capital-raises-400-million-to-back-european-startups/); [Handelsblatt, 2025-12-30](https://www.handelsblatt.com/technik/it-internet/468-capital-der-risikokapitalgeber-stellt-sich-neu-auf/100187171.html). Different reporting dates/rounding or subsequent close may explain the difference; final-close reconciliation not established. Do not treat the dollar figure as an additional fund. | | Fund II | **Approximately US$400 million in capital commitments**, closing announced **2022-01-31**; exceeded target, so a close rather than an open fundraising target. | [Firm-issued Business Wire release reproduced by MarketScreener, 2022-01-31](https://www.marketscreener.com/news/latest/468-Capital-Raises-400-Million-Fund-II-37698526/); [468 Capital's article](https://468cap.com/468-capital-raises-400-million-to-back-european-startups/). Latest large flagship fund verified here; no verified Fund III close found. | | 468 Global Opportunities (GO) | **Nearly €50 million**, launched 2022, emerging-market focus, according to December 2025 reporting. | [Handelsblatt, 2025-12-30](https://www.handelsblatt.com/technik/it-internet/468-capital-der-risikokapitalgeber-stellt-sich-neu-auf/100187171.html). Reporting supports existence and reported scale; precise final close date and exact commitments not verified. | | Total capital raised | The January 2022 release claimed **$1.3 billion raised since inception** and also discussed two SPACs. | [MarketScreener / Business Wire release](https://www.marketscreener.com/news/latest/468-Capital-Raises-400-Million-Fund-II-37698526/). This is an organization-level historical fundraising statement, **not confirmed present venture AUM**. Do not combine SPAC proceeds and VC fund commitments into Fund II. | **Material current-status development:** Handelsblatt's 2025-12-30 report, based on a letter to LPs, says no new fund would be launched in the previous form; Ensthaler and Leibert would oversee existing Fund I/II portfolio businesses, and Kudlich would take responsibility for GO. This is restructuring reporting, not evidence that every vehicle stopped investing or that the firm ceased to exist. [Source](https://www.handelsblatt.com/technik/it-internet/468-capital-der-risikokapitalgeber-stellt-sich-neu-auf/100187171.html). An undated, search-readable [Diogo Cunha LinkedIn post](https://www.linkedin.com/posts/diogococunha_2025-was-a-phenomenal-year-at-our-468-capital-activity-7413898365899423744-u1IQ) describes GO's 2025 investments and interest in pre-product founders for 2026. This is useful first-person context but not a dated formal mandate or confirmation of flagship new-investment availability. ## Investment stages A transaction adviser explicitly described 468 Capital as investing **pre-seed through Series B** in European technology startups with European and US locations: [GvW, 2021-08-13](https://www.gvw.com/aktuelles/pressemitteilungen/detail/lithium-ionen-batterien-gvw-begleitet-vsquared-ventures-und-468-capital-bei-customcells-finanzierungsrunde). HTGF's 2022 company background similarly identifies pre-seed and early growth: [2022-01-12 announcement](https://www.htgf.de/en/htgf-financing-ceregate/). The Fund II release identifies an early-stage/seed fund addressing Europe and the US. Historical Series A and B transactions below independently show later-round participation. These statements support a **historical** early-stage mandate, not an unqualified current availability claim after the reported restructuring. A present check-size policy and separate current stages for GO versus Funds I/II remain unverified. ## Named deep-tech investments Round totals are company financing amounts, **not 468 Capital's individual check**. None of the sources below discloses its check. Classifications are research judgments based on the described technical product, rather than every AI or climate business being called deep tech. | Company / technology rationale | Firm attribution, financing and date | Supporting evidence | | --- | --- | --- | | **Cartken** — autonomous indoor/outdoor mobile robots, computer vision and AI navigation; substantive robotic autonomy, not delivery-marketplace software alone. | Company directly identifies **468 Capital as lead** of a **$10 million** financing announced **2024-07-03**. $22.5 million is aggregate funding, not this round; stage not stated in the release. | [Cartken official announcement](https://www.cartken.com/press-release/cartken-announces-22-5m-in-aggregate-funding-to-advance-ai-based-technology-stack-enabling-autonomous-delivery-robots). |
team@apexlogos.ai23 days ago
MATCH

Funds3

Team

Co-investing

Investments