True Growth Capital

What True Growth Capital does

True Growth Capital is a Berlin-based venture capital firm that invests at the earliest possible stage — at or before company foundation — through a dedicated, committed fund vehicle. Founded in 2018 and operating from Revaler Str. 9 in Berlin, the firm deploys initial tickets of 100-500k EUR and provides seven-digit follow-on capacity to portfolio companies, often leading or investing solo while remaining open to co-investment. Its stated geographic focus is the DACH region (Germany, Austria, Switzerland).

The firm's investment thesis targets 'true growth' — fast-growing yet cash-efficient business models in non-discretionary consumer verticals with digitally uncontested (blue ocean) market positioning, aiming for exits in the 50-200m EUR enterprise value band, which it describes as an overlooked sweet spot that minimizes founder dilution and maximizes the probability of a cash exit. True Growth operates two distinct programs: Direct Investments for established founders, and a Founding Investments program that offers a 3-6 month paid project stipend to validate ideas — the firm's own or a founder's — before company foundation, with the option to invest and provide 12-18 months of runway post-formation. The disclosed portfolio spans 14+ companies including Cheex, Vetevo, November, Certa, Kombuchery, Culcha, Packmatic, Kobaj, Famly, Berliner Berg Brauerei, 4G Wines, H&S Energiesysteme, and GoRocky.

Returns are generated through equity stakes acquired at the earliest stage; the firm claims aligned-incentive structures including clean contracts and cap tables, no exclusivity, and syndication rights at any time. The core team comprises co-founders Dr. Marco Vietor (audibene) and Paul Crusius (audibene), plus dedicated Investments (Max Holthaus) and Talent (Ina Ertner) leads, with a broader network of co-investors and content experts drawn from audibene, hear.com, Packmatic and HomeToGo. Deal sourcing relies on founder networks and direct outreach ([email protected]) rather than broad-based marketing channels, and the firm is positioned as founder-driven angel investing augmented by a professional fund structure.

Name

True Growth Capital

Legal name

True Growth Verwaltungs GmbH

Website

https://www.truegrowth.de/#

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

True Growth Capital is a Berlin-based venture capital firm that invests at or before company foundation in DACH-region consumer startups, deploying 100-500k EUR initial tickets with seven-digit follow-on capacity and targeting 50-200m EUR exits.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Miscellaneous Financial Investment Activities (523999)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)

akta.pro secondary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

Keywords

• Venture capital
• Early-stage investing
• Angel investing
• Startup funding
• Founder-led investing

Headquarters

HQ city

Berlin

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

Revenue model

1. Equity Investment Returns: True Growth Capital generates returns through equity stakes acquired by investing in early-stage companies. The firm targets exit valuations of 50-200m EUR enterprise value, focusing on cash-efficient business models that minimize founder dilution and maximize founder control while boosting chances of actual cash exit.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

True Growth Capital is an early-stage venture capital firm that invests directly into founders at or before company formation, with initial tickets of 100-500k EUR and seven-digit follow-on capacity through a dedicated fund vehicle. It also runs a Founding Investments program offering a 3-6 month paid project stipend to validate ideas before company foundation, providing runway for the first 12-18 months. Investments target fast-growing, cash-efficient consumer and digital business models with exit potential of 50-200m EUR enterprise value in the DACH region.

Product overview

True Growth Capital is a Berlin-based venture capital firm that operates as a single unified investment offering rather than a product platform. The firm specializes in direct investments at the earliest possible stage (at or before company foundation) with an initial ticket range of 100-500k EUR and seven-digit follow-on capacity. Additionally, the firm offers a Founding Investments program providing a 3 to 6 month paid project stipend to validate ideas before company formation. The firm targets fast-growing, cash-efficient business models in the 50-200m EUR exit range and focuses on consumer models addressing non-discretionary needs in digitally uncontested markets. The company's portfolio includes portfolio company brands such as Cheex, Vetevo, November, Certa, Kombuchery, Culcha, Packmatic, Kobaj, Famly, Berliner Berg Brauerei, 4G Wines, H&S Energiesysteme, and GoRocky, though these are companies the firm has invested in rather than products or services True Growth Capital itself provides.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct Investments Earliest-stage venture capital investment program for founders at or before company foundation (idea or angel investment), with initial tickets of 100-500k EUR and seven-digit follow-on capacity. Aimed at fast-growing, cash-efficient consumer and digital business models targeting 50-200m EUR exits in the DACH region.
• Founding Investments

Quantifiable outcome

• Target exit at 50-200m EUR enterprise value

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• 468 Capital: Berlin-based early-stage VC investing in European tech at seed stage. Comparable on geography, stage and founder-first approach.
• Cavalry Ventures: Berlin-based early-stage VC focused on consumer and SMB software. Closely comparable as a Berlin, founder-led, seed-stage fund investing in consumer and digitally-native businesses.
• Point Nine Capital: Berlin-based early-stage VC focused on SaaS, digital health and consumer software. Directly comparable on geography (Berlin), stage (seed/early) and founder-first philosophy.
• Speedinvest: Vienna-based early-stage VC with strong DACH presence and dedicated consumer, fintech and B2B funds. Closely comparable as a pan-DACH seed investor backing founders at the earliest stages.
• Atlantic Labs: Berlin-based early-stage VC backing science- and technology-driven founders from inception. Directly comparable on Berlin base, earliest-stage focus and founder-led operation.
• Cherry Ventures: Berlin-based early-stage VC investing at pre-seed and seed across Europe. Comparable as a Berlin-headquartered, founder-led fund targeting earliest-stage rounds.
• German Founders Fund: Berlin-based pre-seed/seed fund investing behind German serial founders. Highly comparable as a Berlin fund run by experienced operators targeting the earliest stage.

Broad incumbents

• Earlybird Venture Capital: Berlin-based pan-European VC with seed-to-growth capabilities. Comparable on Berlin location and tech focus, but a much larger, multi-stage incumbent.
• HV Capital: One of Germany's longest-standing venture firms investing from seed to growth. Comparable on DACH geography and consumer/tech exposure, but operates at materially larger fund size and later stages.

Regional players

• Picus Capital: Munich-based early- and growth-stage investor active in DACH tech. Comparable on regional focus and consumer/digital mandate, though geographically distinct from Berlin.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments21 records

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

Frequently asked questions about True Growth Capital