About HV Capital
HV Capital is a venture capital firm founded in 2000. It is primarily based out of Munich, Germany. As of Oct 2026, HV Capital is an active investor, having invested in 317 companies, with 12 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 B round of Rabot Overall, HV Capital portfolio has seen 18 unicorns, 13 IPOs and 94 acquisitions including key companies like HelloFresh, SumUp and Delivery Hero. 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 31 people including 12 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 8 more
Portfolio Acquisitions
HV Capital's List of Top Investments
HV Capital has a portfolio of 317 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 35 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: 17,595 as on Sep 30, 2026
- Investors: Baillie Gifford, HV Capital and 17 Others
- Latest Funding Round: Post IPO, Aug 05, 2019, $*****
- Highlight: Public
2. 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 52 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: 43,225 as on Sep 30, 2026
- Investors: Kreos Capital, Tengelmann Ventures and 45 Others
- Latest Funding Round: Post IPO, Jan 07, 2021, $*****
- Highlight: Public
4. 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
5. Qonto
Provider of business account, payment cards, and financial management solutions. The company offers tools for customer and supplier invoicing, team expense management, and accounting and bookkeeping. It provides integrations to boost productivity, along with resources such as a resource hub, blog, and finance glossary. The company also provides payment terminals and payment links.
Key facts about Qonto
- Founded Year: 2017
- Location: Paris (France)
- Annual Revenue: €100M - €500M as on Dec 31, 2023
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $717M
- Employee Count: 2,457 as on Sep 30, 2026
- Investors: TCV, HV Capital and 27 Others
- Latest Funding Round: Series D, Apr 21, 2022, $*****
- Highlight: Editors' Pick
HV Capital's Year-on-Year Investment Trends
HV Capital has invested in 317 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 Oct 2026, it has made 18 investments in this year. Its most recent first time investment was in Rivercell and most recent follow-on round was in Rabot.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 8 | 10 | 18 |
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 $28.7M, 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 282 Tech companies, 169 Consumer (B2C) companies, 166 Enterprise (B2B) companies and at least 131 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 100 |
Enterprise Applications | 97 |
Retail | 60 |
FinTech | 39 |
High Tech | 36 |
Others | 286 |
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 | 7 |
Others | 30 |
Note: We have considered here, only first round of investments
HV Capital's recent investments
HV Capital has made 18 investments in 2026 so far. Rabot and Rivercell 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 |
|---|---|---|---|---|---|
Oct 15, 2026 | - | Series B | 6280 | [+6] | |
Oct 07, 2026 | France | Seed | 6961 | [+2] | |
Oct 06, 2026 | Netherlands | Series A | 3467 | [+4] | |
Sep 15, 2026 | Italy | Series D | 2945 | [+12] | |
Aug 19, 2026 | Germany | Series A | 2976 | - |
Unicorns in HV Capital's Portfolio
HV Capital has 18 unicorns in its portfolio - Exein, FINN, NEURA and others. The most recent unicorn in their portfolio is Exein. It became a unicorn in 2026.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 |
|---|---|---|---|---|---|---|---|
62 | Provider of AI-powered cybersecurity solutions embedded directly into device firmware | 2018 | Rome | Series D | owdvgln | ||
67 | Provider of flexible car subscription services with fixed monthly payments | 2019 | Munich | Series D | btvhvqu | ||
60 | Developer of cognitive robotics and physical artificial intelligence solutions | 2019 | Metzingen | Series C | fyyprab | ||
58 | Developer of action conditioned world models for autonomous agentic systems | 2026 | Paris | Seed | chywpbr | ||
67 | Developer of workflow automation software for building integrated technical processes | 2019 | Berlin | Series C | cvmj{me |
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 | 6038 | |
Nov 09, 2018 | Apr 03, 2007 | Series B | 3585 | |
Oct 09, 2018 | Jun 08, 2012 | Series C | 7293 | |
Nov 20, 2017 | 2014 | Series E | 1617 | |
Nov 02, 2017 | Dec 11, 2012 | Series B | 1627 |
_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 | 8136 | |
May 20, 2026 | Oct 22, 2020 | Series A | 7253 | |
May 06, 2026 | Aug 27, 2021 | Series A | 2853 | |
Apr 28, 2026 | Jun 02, 2021 | Series B | 4987 | |
Mar 02, 2026 | 2012 | Series D | 6311 |
Team profile of HV Capital
HV Capital has a team of 31 members including 12 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 | Berlin | - | - | |
Partner | Munich | - | - | |
Partner | Munich | - | ||
Partner | Munich | - | ||
Partner | Munich | - | ||
Partner | Berlin | - | ||
Partner | Munich | - | ||
Partner | Berlin | - | ||
Partner | Munich | - |
Co-investors of HV Capital
Over the past 27 years, 1447 investors have co-invested in HV Capital's portfolio companies. This includes funds and angels.
- Invested before HV Capital: Rocket Internet, Speedinvest and 406 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: 442 investors entered a company along with HV Capital. These include investors like Rocket Internet (9 companies).
- Invested after HV Capital: A total of 597 investors have invested in HV Capital's portfolio after their investments. Top Investors include b2venture (8 companies), Insight Partners (6 companies) and RTP Global (6 companies).
Recent News related to HV Capital
•
Cybersecurity startup Hadrian raises €35.68 million to scale its agentic AI offensive security platformEU-Startups•Oct 06, 2026•Hadrian, ForgePoint Capital, SmartFin, HV Capital and 6 others
•
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
