About HV Capital
HV Capital is a venture capital firm founded in 2000. It is primarily based out of Munich, Germany. As of Sep 2026, HV Capital is an active investor, having invested in 314 companies, with 14 new investments in the last 12 months. It primarily invests in Seed round in Germany based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and Retail. Most recently it participated in the $***** Series D round of Exein Overall, HV Capital portfolio has seen 18 unicorns, 13 IPOs and 94 acquisitions including key companies like HelloFresh, Lazada and SumUp. A lot of funds co-invest with HV Capital, with names like Rocket Internet sharing a substantial percentage of its portfolio. HV Capital has team of 25 people including 9 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 8 more
Portfolio Acquisitions
Portfolio Unicorns
HV Capital's List of Top Investments
HV Capital has a portfolio of 314 companies, including 18 unicorns. Their most notable investments are in DELLI and Impossible Cloud.Their portfolio spans across Germany, United States, United Kingdom and 25 more locations. They have invested in Enterprise Applications, Consumer, Retail and 36 other sectors, across stages such as Seed, Series A and 8 more. Here is the list of top investments by HV Capital:1. HelloFresh
Provider of meal recipe kits subscription service. It offers a grocery subscription service where customers receive a weekly box containing three to five easy-to-cook recipes created by professional chefs and nutritionists with instructions and related content. Its menu includes noodles, burgers, fried rice, and more. The mobile application is available for Android and iOS users.
Key facts about HelloFresh
- Founded Year: 2011
- Location: Berlin (Germany)
- Annual Revenue: €1B+ as on Dec 31, 2018
- Stage: Public
- Total Funding till date: $367M
- Employee Count: 17,706 as on Aug 31, 2026
- Investors: Baillie Gifford, HV Capital and 16 Others
- Latest Funding Round: Post IPO, Aug 05, 2019, $*****
- Highlight: Public
2. Lazada
Online retailer of diverse products providing shopping experiences and digital capabilities. It connects retailers and shoppers through technology, logistics, and payments infrastructure. The platform delivers engaging experiences customised to markets. It enables businesses to scale and grow with digital capabilities.
Key facts about Lazada
- Founded Year: 2012
- Location: Singapore (Singapore)
- Annual Revenue: $500M - $1B as on Dec 31, 2023
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $690M
- Employee Count: 21,571 as on Mar 31, 2026
- Investors: Access Industries, Deutsche Capital Group and 17 Others
- Latest Funding Round: Series E, Nov 29, 2014, $*****
- Highlight: Acquired
3. SumUp
Provider of card payment terminals and point of sale systems. These hardware and software tools facilitate transaction processing for merchants. The offerings include mobile card readers, self-service kiosks, and digital invoicing capabilities. Merchants utilize these tools to accept contactless payments and manage financial records. The system integrates with mobile applications to support business operations and order processing.
Key facts about SumUp
- Founded Year: 2012
- Location: Wilmington (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $997M
- Employee Count: 4,196 as on May 31, 2026
- Investors: Goldman Sachs, AllianceBernstein and 51 Others
- Latest Funding Round: Conventional Debt, May 19, 2025, $*****
- Highlight: Editors' Pick
Platform offering food ordering and delivery services. Its marketplace enables users to provide online food delivery services from restaurants and cafes. The platform provides services for the delivery of flowers, medicines, gifts, packages, and e-commerce.
Key facts about Delivery Hero
- Founded Year: 2010
- Location: Berlin (Germany)
- Annual Revenue: €1B+ as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $1.8B
- Employee Count: 42,964 as on Aug 31, 2026
- Investors: Kreos Capital, Tengelmann Ventures and 45 Others
- Latest Funding Round: Post IPO, Jan 07, 2021, $*****
- Highlight: Public
5. FlixBus
Operator of intercity bus transportation services for public passenger travel. This business manages scheduled transit routes using motor coaches to facilitate movement between municipalities. Passengers purchase tickets to secure seating for transit. The service provides amenities including power outlets and wireless internet access for travelers during transit. Luggage storage is available for passengers on these vehicles.
Key facts about FlixBus
- Founded Year: 2011
- Location: Munich (Germany)
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $1.22B
- Employee Count: 49 as on May 31, 2026
- Investors: Silver Lake, Baillie Gifford and 35 Others
- Latest Funding Round: Series G, Jul 04, 2024, $*****
- Highlight: Editors' Pick
HV Capital's Year-on-Year Investment Trends
HV Capital has invested in 314 companies over the last 27 years, with an average of 15 new investments annually in the last 10 years. In 2025, it made 35 investments, while as of Sep 2026, it has made 15 investments in this year. Its most recent first time investment was in Ore Energy and most recent follow-on round was in Exein.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 7 | 8 | 15 |
2025 | 20 | 15 | 35 |
2024 | 21 | 11 | 32 |
2023 | 14 | 18 | 32 |
2022 | 12 | 18 | 30 |
2021 | 25 | 29 | 54 |
2020 | 11 | 22 | 33 |
2019 | 14 | 19 | 33 |
2018 | 16 | 8 | 24 |
2017 | 10 | 11 | 21 |
HV Capital's Investments by Stage
HV Capital has made 136 investments in Seed stage with an average round size of $28.8M, 91 investments in Series A stage with an average round size of $12.3M and 27 investments in Series B stage with an average round size of $33.9M.Stage of entry | No. of Investments |
|---|---|
Seed | 136 |
Series A | 91 |
Series B | 27 |
Series C | 11 |
Series D | 5 |
Others | 8 |
Note: We have considered here, only first round of investments
HV Capital's Investments by Sector
HV Capital has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, Retail, FinTech and High Tech. Notably, it has invested in 280 Tech companies, 168 Consumer (B2C) companies, 165 Enterprise (B2B) companies and at least 129 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 100 |
Enterprise Applications | 97 |
Retail | 60 |
FinTech | 39 |
High Tech | 36 |
Others | 290 |
Note: We have considered here, only first round of investments
HV Capital's Investments by Geography
HV Capital has made most investments in Germany (190), followed by United States where it has made 23 investments.Country | No. of Investments |
|---|---|
Germany | 190 |
United States | 23 |
United Kingdom | 19 |
Netherlands | 8 |
France | 6 |
Others | 30 |
Note: We have considered here, only first round of investments
HV Capital's recent investments
HV Capital has made 15 investments in 2026 so far. Exein and Flip are the latest among them.Here are the most recent investments by HV Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 15, 2026 | Italy | Series D | 8221 | [+12] | |
Aug 19, 2026 | Germany | Series A | 5516 | - | |
Aug 04, 2026 | Netherlands | Series A | 2926 | [+1] | |
Jul 08, 2026 | United States | Series B | 8839 | ||
Jul 02, 2026 | Germany | Series D | 7394 | [+9] |
Unicorns in HV Capital's Portfolio
HV Capital has 18 unicorns in its portfolio - FINN, Neura Robotics, Ami Labs and others. The most recent unicorn in their portfolio is FINN. It became a unicorn in 2026, 6 years after HV Capital first invested in it.Here is a list of unicorns in HV Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
67 | Provider of flexible car subscription services with fixed monthly payments | 2019 | Munich | Series D | mswpkeq | ||
60 | Manufacturer of cognitive robots and intelligent automation systems for industry | 2019 | Metzingen | Series C | icydmoi | ||
58 | Developer of action conditioned world models for autonomous agentic systems | 2026 | Paris | Seed | xmacovr | ||
65 | Developer of workflow automation software for building integrated technical processes | 2019 | Berlin | Series C | ecdjgtq | ||
70 | Provider of a no-code website builder with integrated content management | 2014 | Amsterdam | Series D | lcpfzgm |
IPOs and Publicly Listed companies in HV Capital's Portfolio
13 of HV Capital's portfolio companies have become public. Dafiti got listed on the Frankfurt Stock Exchange (FRA), in Jul 2019 and Ozon got listed on the Frankfurt Stock Exchange (FRA).Here are HV Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 05, 2019 | 2011 | Series A | 8162 | |
Nov 09, 2018 | Apr 03, 2007 | Series B | 5699 | |
Oct 09, 2018 | Jun 08, 2012 | Series C | 3363 | |
Nov 20, 2017 | 2014 | Series E | 2229 | |
Nov 02, 2017 | Dec 11, 2012 | Series B | 7108 |
_1563428508668.png?devicePixelRatio=2&height=20&width=20){kind=logo}
Acquired companies in HV Capital's Portfolio
94 companies from HV Capital's portfolio have been acquired. The most recent acquisition was InterNations in Jul 2026 by FairCap for $*****.Here are HV Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 17, 2026 | 2007 | Seed | 5576 | |
May 20, 2026 | Oct 22, 2020 | Series A | 8337 | |
May 06, 2026 | Aug 27, 2021 | Series A | 3823 | |
Apr 28, 2026 | Jun 02, 2021 | Series B | 8077 | |
Mar 02, 2026 | 2012 | Series D | 7917 |
Team profile of HV Capital
HV Capital has a team of 25 members including 9 Partners and 5 Principals located in Germany and United Kingdom. HV Capital's team does not sit on the board of any company as of now.Here is a list of top team members in HV Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Munich | - | ||
Partner | Munich | - | ||
Partner | Munich | - | ||
Partner | Berlin | - | ||
Partner | Munich | - | ||
Partner | Berlin | - | ||
Partner | Munich | - | ||
Partner | United Kingdom | - | ||
Partner | Munich | - | - | |
Principal | Berlin | - |
Co-investors of HV Capital
Over the past 27 years, 1442 investors have co-invested in HV Capital's portfolio companies. This includes funds and angels.
- Invested before HV Capital: Rocket Internet, Speedinvest and 405 others have invested in rounds before HV Capital. There are 6 companies where Rocket Internet has invested before HV Capital and 6 companies where Speedinvest has invested before HV Capital.
- Top Co-investors of HV Capital: 439 investors entered a company along with HV Capital. These include investors like Rocket Internet (9 companies).
- Invested after HV Capital: A total of 596 investors have invested in HV Capital's portfolio after their investments. Top Investors include b2venture (7 companies), EQT (7 companies) and Insight Partners (6 companies).
Recent News related to HV Capital
•
Flip Secures €22 Million to Scale Frontline AI PlatformEU-Startups•Aug 19, 2026•LBank, HV Capital, Flip, Chiratae Ventures
•
Dutch Iron-Air Battery Startup Ore Energy Secures $43M FundingTech Funding News•Aug 04, 2026•Ore Energy, Plural, HV Capital, Plural and 1 other
•
German startup FINN hits €1B valuation in seven years by building on the belief Europeans would stop buying carsTech Funding News•Jun 24, 2026•FINN, Portage, White Star Capital, Planet First Partners and 6 others
•
SevenVentures Invests in FINN as Part of Series D Funding RoundAdvanced Television•Jun 24, 2026•FINN, ProSiebenSat.1 Media, Portage, Runway Growth Capital and 5 others
•
Fifth Dimension Secures €22 Million Series A Funding for AI Decision Intelligence in Real AssetsEU-Startups•May 11, 2026•Fifth Dimension AI, HV Capital, Mercia Group, Prudence and 4 others
•
German SPREAD AI Raises $30M in Series B FundingStartup Rise EU•Apr 29, 2026•Thesigercapital.com, Salesforce Ventures, Spread, DTCP and 4 others
•
Midas Secures $50 Million Funding to Boost LiquidityBitcoin Ethereum News•Mar 30, 2026•Franklin Templeton Investments, MIDAS, Creandum, RRE Ventures and 7 others
•
Top 100 Most Promising European Startups by VivaTech and Leading VCsTrending Topics•Mar 12, 2026•Viva Technology, HV Capital, Partech Partners, Eurazeo and 2 others
•
Advanced Machine Intelligence Closes $1.03 Billion Seed FundingFinSMEs•Mar 11, 2026•Ami Labs, SBVA, Shorooq Partners, HV Capital and 6 others
•
Yann LeCun Raises $1 Billion to Build AI That Understands the Physical WorldDnyuz•Mar 10, 2026•Samsung, Ami Labs, HV Capital, Hiro Capital and 3 others
