What Vsquared Ventures does

Vsquared Ventures is a Munich-based European deep tech venture capital firm founded in 2020, building on the predecessor fund Vito Ventures that the same partners had run for approximately four years prior. The firm deploys conviction-led, patient capital into early-stage deep tech startups across six thematic verticals: AI & Next-Gen Software, Energy Transition, New Computing & Sensing, New Space, Robotics & Manufacturing, and Tech-Bio. Vsquared operates through four regulated German fund vehicles — Vsquared Ventures I GmbH & Co. KG, Vsquared Ventures II GmbH & Co. KG, Vsquared Ventures Opportunities I GmbH & Co. KG, and Vsquared Ventures Opportunity II GmbH & Co. KG — managed by Vsquared Ventures Management GmbH. The firm employs 14 named team members across investing, platform, research, finance, and data/AI functions and sees approximately 1,700 pitch decks per year while making roughly 7 investments annually, indicating a high-selectivity approach. In June 2024, the firm closed Fund II at €214M, recognized by Handelsblatt as the largest deep-tech fund raised in Europe at the time, and in June 2026 expanded into London with a new office led by General Partner Lise Rechsteiner.

The firm's core capability is its deep tech investment thesis and in-house technical research rather than a commercialized technology stack. Founding partners combine PhD-level research backgrounds (Max Planck, ETH Zurich, TUM, École Polytechnique, UCL) with operating experience (Uber, HgCapital, BCG, Rocket Internet), and the firm co-produces technical market maps with academic partners — for example a compute-in-memory/compute-near-memory landscape report with TU Dresden's Chair for Compiler Construction (arXiv:2401.14428) and a non-invasive biomarker monitoring analysis. Vsquared maintains "The Deep Brief" interview series with portfolio CEOs and ecosystem figures and publishes original long-form research, but offers no public API or developer-facing product. The firm is a registered alternative investment fund manager under the German KAGB, manages all funds under SFDR Article 8 disclosure requirements, and is backed by the European Investment Fund via InnovFin Equity under Horizon 2020 Financial Instruments and EFSI. Notable portfolio companies include IQM Quantum Computers ($1B+ valuation), Isar Aerospace (€270M 2026 round), NEURA Robotics ($1.4B humanoid robotics push), Black Semiconductor (€274M raised in 2024), Inbrain Neuroelectronics, The Exploration Company, Belfort, and a broader base of 30+ companies.

Vsquared generates revenue through management fees on its venture capital funds and carried interest / capital gains from successful portfolio exits. Fund terms (management fees, carry) are negotiated privately with limited partners and not publicly disclosed; documented LP composition is concentrated in EU institutional capital via the European Investment Fund. Geographic scope is primarily Germany and EU member states, with a 2026 expansion into the UK, and Fund II adds fossil-fuel and energy-intensive-industry exclusions relative to Fund I. The firm has co-initiated the €300M 55 North quantum fund with Cambium Capital (€134M first close 2025) to extend reach into global quantum investing, indicating a deliberate strategy to scale into adjacent deep-tech sub-verticals through co-managed vehicles rather than solely via organic fund growth.

Name

Vsquared Ventures

Legal name

Vsquared Ventures Management GmbH

Website

https://vsquared.vc

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Munich-based European deep tech venture capital firm managing €214M Fund II plus three additional vehicles, investing across AI, robotics, quantum, space, energy transition, and tech-bio, with portfolio including IQM, Isar Aerospace, and NEURA Robotics.

Ownership category

akta.pro rank

Product category

Deep Tech Venture Capital

NAICS

Other Financial Vehicles (52599), Other Financial Vehicles (525990)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industry

Corporate Innovation & Technology Scouting Units (with investment mandate) (FSANAHAI)

Keywords

• Deep tech venture capital
• Early-stage tech investing
• European startup funding
• Seed venture capital
• Frontier technology investment

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Venture capital fund management & investment gains: Vsquared generates revenue primarily through management fees on its venture capital funds (Vsquared Ventures I, Opportunities I, II, and Opportunity II) and carried interest / capital gains from successful investments in deep tech portfolio companies. The firm has raised at least €214M for Fund II and invests across seed and early-stage rounds with follow-on in later stages.
2. Fund management under SFDR Article 8 framework: Vsquared operates as a registered alternative investment fund manager under the German KAGB; its funds (Vsquared Ventures I, Opportunities I, II, Opportunity II) are managed in line with SFDR Article 8 disclosure requirements, generating management fees from LPs (including European Investment Fund via InnovFin Equity).

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Vsquared Ventures is a Munich-based European deep tech venture capital firm that manages four regulated fund vehicles (Vsquared Ventures I GmbH & Co. KG, Vsquared Ventures II GmbH & Co. KG, Vsquared Ventures Opportunities I GmbH & Co. KG, and Vsquared Ventures Opportunity II GmbH & Co. KG) deploying seed and early-stage capital into deep tech startups across AI & Next-Gen Software, Energy Transition, New Computing & Sensing, New Space, Robotics & Manufacturing, and Tech-Bio. The firm earns revenue through management fees from institutional limited partners (including EU InnovFin Equity) and carried interest on successful investments, supported by in-house technical research and a pan-European founder network.

Product overview

Vsquared Ventures is a Munich-based German deep tech venture capital firm offering multiple investment fund vehicles rather than a unified software platform. Its offerings comprise four regulated funds — Vsquared Ventures I GmbH & Co. KG, Vsquared Ventures II GmbH & Co. KG, Vsquared Ventures Opportunities I GmbH & Co. KG, and Vsquared Ventures Opportunities II GmbH & Co. KG — which deploy early-stage and growth-stage capital into European deep tech startups. Investments are organized around six generational growth themes: AI & Next-Gen Software, Energy Transition, New Computing & Sensing, New Space, Robotics & Manufacturing, and Tech-Bio. The firm is legally represented by Managing Directors Benedikt von Schoeler, Dr. Herbert Mangesius, and Thomas Oehl, and is operated by Vsquared Ventures Management GmbH at Hildegardstr. 8, 80539 Munich, Germany.

Differentiator

Problem solved

Functional benefit

Brands

• The Vsquared Portfolio: Branded portfolio of deep tech investments (AI, New Space, Quantum, Robotics, Energy Transition, Tech-Bio, New Computing & Sensing) showcased under the Vsquared Ventures umbrella.

Products and services

• Vsquared Ventures I GmbH & Co. KG
• Vsquared Ventures II GmbH & Co. KG
• Vsquared Ventures Opportunities I GmbH & Co. KG
• Vsquared Ventures Opportunity II GmbH & Co. KG

Quantifiable outcome

• Closed €214M second fund in 2024 — one of Europe's largest deep-tech funds
• +4 more outcomes

Named customers7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered flagship and core.

• 55 North (with Cambium Capital)flagshipStrategic or Co-development PartnerVsquared co-initiated 55 North together with Cambium Capital. 55 North announced a €300M quantum technology fund with a €134M first close in 2025, investing globally in quantum computing, sensing, and communications. Vsquared contributes deal-flow, network, and governance, while Cambium provides US capital agility — described as a pan-European/US collaboration.
• Cambium CapitalcoreStrategic or Co-development PartnerCo-initiator with Vsquared of the 55 North €300M quantum-focused fund. The collaboration pairs Vsquared's European deep-tech track record and ecosystem with Cambium's US capital agility, expanding 55 North's reach across the global quantum value chain.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Atomico: London-based European deep tech and growth-stage VC that has co-invested with Vsquared in rounds such as Lace Lithography's $40M Series A. Operates a pan-European thesis spanning AI, climate, and frontier tech with comparable fund size and LP base.
• Earlybird Venture Capital: One of Europe's longest-standing deep-tech and technology VCs, headquartered in Munich/Berlin. Operates multiple fund vehicles with comparable early-stage deep-tech focus across AI, semiconductors, and industrial tech, making it a direct German/European competitor to Vsquared.
• World Fund: Berlin-based climate- and deep-tech VC that co-led Hyperscale Power's €5M seed and Vaeridion's Series A alongside Vsquared. Comparable European deep-tech mandate, similar founder-led conviction approach, and overlapping portfolio in energy transition and frontier hardware.
• Alpine Space Ventures: Munich-based specialist space-tech VC that co-invested with Vsquared in Morpheus Space's $15M round and led ConstellR's Series A. Directly comparable as a European deep-tech specialist with overlapping New Space portfolio and similar geographic anchoring.
• HV Capital: Munich-based tech VC investing across European seed, early, and growth stages with deep exposure to German deep tech and B2B software. Comparable geographic anchoring in Munich and pan-European reach, providing similar fund products to institutional LPs.
• imec.xpand: Belgium-based deep-tech VC affiliated with imec, focused on semiconductors, photonics, and nanoelectronics. Co-led Xavveo's seed with Vsquared and represents the same European semiconductor/photonics thesis at comparable check sizes.
• Speedinvest: Vienna-based pan-European early-stage VC with deep-tech sector funds (deep tech, climate, industrial tech). Comparable multi-vehicle structure, sector specialization, and European LP base, competing for the same founder pool across DACH and broader EU.

Regional players

• Creandum: Stockholm-based European early-stage VC with deep-tech exposure (including Northvolt-era bets). Comparable stage and pan-European mandate but primarily Northern European focus, positioning it as a regional peer rather than direct competitor for DACH deals.
• Notion Capital: London-based VC investing in European enterprise and deep tech (B2B SaaS, fintech, infrastructure). Comparable European deep-tech focus but primarily UK-anchored sourcing, complementing Vsquared's German/pan-European rather than directly competing head-to-head.

Broad incumbents

• Index Ventures: London/San Francisco/Geneva-based global VC with significant European deep-tech exposure (e.g., quantum, biotech, semiconductors). Broader, larger-scale platform that competes for the same high-conviction deep-tech deals but with a wider portfolio across consumer and enterprise software.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments74 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vsquared Ventures