What BONVENTURE does

BONVENTURE (legal entity: BonVenture Management GmbH) is a Munich-based impact venture capital firm founded in 2003 that has been operating as a pioneer of European impact investing for over 20 years. The firm manages a series of closed-end venture funds — BV1 through BV5 — with per-vintage commitments scaling from approximately €5M (BV1, 2003) to €11M (BV2, 2009), €23M (BV3, 2016), €50M (BV4, 2020), and a target of €100M for the in-market BV5 (2025). It invests primarily at the late seed to Series A stage in startups based in the DACH region and broader EU, organized around four thematic pillars: Digital Health, Equality and Education, Climate and Nature, and Sustainable Consumption.

The firm operates a proprietary impact measurement stack — a Theory of Change combined with an IOOI (Input, Output, Outcome, Impact) framework — under which each portfolio company defines target impact metrics at entry that are tracked over the holding period and audited annually by external provider BSD Consulting. Portfolio companies cited in the input include R3 Robotics (AI-enabled robotics), BIOWEG (biotech), Gardia (silver-economy/health), LillianCare (healthcare delivery), ViViRA (digital health), and others; select portfolio companies supply blue-chip German industrials including Bosch, Volkswagen, and Schaeffler.

BONVENTURE's revenue model follows standard European VC fund economics: periodic management fees on committed or invested capital (industry-typical 1.5–2.0%) supplemented by carried interest on realized exits. The firm is one of the first German fund vehicles to obtain EuSEF (European Social Entrepreneurship Fund) qualification and operates under SFDR Article 9, with BaFin as regulator. It employs 15 people, with 65% female representation at partner level, and was awarded the German Sustainability Award 2025.

Name

BONVENTURE

Legal name

BonVenture Management GmbH

Website

https://bonventure.de

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

BONVENTURE is a Munich-based impact venture capital firm (BonVenture Management GmbH) managing funds BV1–BV5 (BV5 targeting €100M), investing late seed to Series A in DACH and EU startups across Digital Health, Equality and Education, Climate and Nature, and Sustainable Consumption, with audited impact measurement via its proprietary IOOI framework.

Ownership category

akta.pro rank

Product category

Impact Venture Capital Fund Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

akta.pro secondary industries

SDG / Thematic Sustainable Investment Funds (FSANAJAN), Early-Stage Venture Capital (Series A/B) (FSANAAAB)

Keywords

• Impact venture capital
• Venture fund management
• Impact investing
• Early-stage impact funds
• Sustainable venture investing

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: BONVENTURE operates as a venture capital fund manager earning management fees from managed funds (BV3, BV4, BV5). As a registered alternative investment fund manager under KAGB, they manage multiple funds targeting sustainable investments.
2. Carried Interest (Carry): Performance-based carry structure where BONVENTURE's profit share is tied to impact achievement. At 80% impact goals, carry is 10%; at 100% impact goals, carry is 20%. Below 79% no carry is earned. Additional 10% of profit share is donated.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

BONVENTURE manages closed-end impact venture capital funds (BV1 through BV5) that invest equity in social and ecological enterprises at late seed to Series A stage across DACH and Europe. The firm provides patient capital, strategic support, and active impact management to founders building ventures in education, health, environment, sustainable consumption, civic engagement, and financial inclusion. Funds are structured as EuSEF-qualifying vehicles with SFDR Article 9 disclosure and a carried-interest component linked to impact KPIs.

Product overview

BONVENTURE is an impact venture capital firm that mobilizes capital as a catalyst for change, partnering with impact-driven founders since 2003. The firm manages multiple funds (BV3, BV4, BV5) investing in startups across four impact areas: Digital Health, Equality and Education, Climate and Nature, and Sustainable Consumption. Their fund management offering includes investment services, impact measurement using the IOOI Theory of Change framework, and portfolio company support. The BONVENTURE 5 (BV5) fund targets €100M with 15-20 investments of €1–2.5M initial tickets in late seed to Series A stage companies primarily in the DACH region.

Differentiator

Problem solved

Functional benefit

Brands

• BV5 (BONVENTURE 5): Fifth fund in the BONVENTURE fund family, targeting €100M to invest in 15-20 impact startups
• BV4 (BONVENTURE IV)
• BV3 (BONVENTURE III)
• BV2
• BV1

Products and services

• BONVENTURE 5 (BV5) Impact Venture Fund Closed-end EuSEF-qualifying venture capital fund that provides equity capital to late seed and Series A social and ecological startups in DACH and Europe, with SFDR Article 9 disclosure and impact-linked carried interest. Intended for institutional and qualified private investors seeking impact venture exposure.
• BONVENTURE Fund Management Services Continuous asset management service covering fund structuring, capital deployment, portfolio oversight, impact measurement (IOOI framework), quarterly LP reporting, and exit/value creation for impact venture portfolios. Provided to limited partners of BV1 through BV5.

Quantifiable outcome

• 650,000 tonnes of CO₂ emissions saved across portfolio
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• BoschcoreStrategic or Co-development Partner · 5 February 2026Provides 24/7 emergency response service for Gardia users through trained specialists. Partnership ensures professional handling of emergency cases with defined escalation paths and contact chains.
• Fortum Battery RecyclingcoreStrategic or Co-development Partner · 5 February 2026Major integrated battery recycler operating across European battery recycling value chain. Strategic deployment partner for R3 Robotics' automated dismantling technology at industrial scale.
• Butterfly & Elephant Accelerator (GS1 Germany)minorChannel Partner/ Reseller/ Distributor · 5 February 2026Accelerator by GS1 Germany that participated in Gardia round, providing startup ecosystem connections.
• VolkswagencoreStrategic or Co-development Partner · 4 February 2026Part of ReDriveS lighthouse project with R3 Robotics, funded by German Federal Ministry for Economic Affairs. Collaboration on automated e-drive disassembly.
• SchaefflercoreStrategic or Co-development Partner · 4 February 2026Part of ReDriveS lighthouse project with R3 Robotics for automated disassembly of e-drives and powertrain components.
• BoschcoreStrategic or Co-development Partner · 4 February 2026Part of ReDriveS lighthouse project. Strategic partner in industrial automation and automotive components.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ananda Impact Ventures: Munich-based early-stage impact VC investing across Europe with a thematic sustainability focus. Direct competitor to BONVENTURE in the German impact VC market, with comparable ticket sizes and stage focus.
• AENU: Berlin-based impact VC fund manager investing in climate tech and sustainable business models in Europe. Direct peer sharing BONVENTURE's early-stage impact mandate and DACH/EU geographic focus.
• Social Impact Holding (impact germany): German impact investment holding company focused on social enterprises and impact funds in the DACH region. Closely comparable to BONVENTURE in mission, geographic focus, and DACH impact startup pipeline.
• High-Tech Gründerfonds (HTGF): Germany's largest early-stage tech VC, with explicit sustainability-focused fund vehicles. Compares to BONVENTURE on stage (seed/Series A), DACH focus, and ticket size, with HTGF operating at significantly larger AUM scale.
• Suma Capital: Spanish impact investment firm co-leading BONVENTURE portfolio rounds (e.g., R3 Robotics). Comparable as a European impact VC manager with similar thesis on climate and sustainability, though regionally focused on Iberia.
• Bridges Fund Management: UK-based impact-focused fund manager with private equity and venture strategies. Comparable to BONVENTURE in mission and impact-tied fund structures, though UK-focused and serving as a useful pan-European comp.
• Capricorn Partners: Belgian impact/cleantech VC manager investing in European growth-stage sustainability companies. Comparable to BONVENTURE on thematic climate focus and European footprint, though with later-stage positioning.

Broad incumbents

• EQT: Major European PE/VC group with explicit sustainability and impact strategies (EQT Future, EQT Ventures). Comparable as a scaled European investment platform with sustainability themes, but operates far more broadly across stages, sectors, and geographies.
• Triodos Investment Management: Dutch sustainable investment manager with venture and private equity strategies alongside public market funds. Comparable to BONVENTURE on impact mandate and EuSEF-style positioning, but operates at significantly larger AUM and broader scope.

Others

• KfW Capital: German government-backed fund-of-funds manager investing in German and European VC funds. Comparable as a German institutional investor in the impact VC ecosystem, and a potential LP or co-investor for BONVENTURE-style managers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bonventure

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

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

M&A

Investments41 records

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

Frequently asked questions about BONVENTURE