Munich-based VC Capmont Technology has closed its first fund of €100m, to back B2B tech startups across Europe and the US.
But the firm, previously known as DI Technology, isn’t a total newbie. Founded in 2016, the VC has already been making investments on a deal-by-deal basis into startups working in enterprise SaaS and industrial tech — in fields including robotics, industrial automation, manufacturing, IoT and supply chain and procurement.
Its portfolio includes Konux, which optimises railway operations using AI, and ProGlove, an industrial IoT firm acquired by private equity investor Nordic Capital in 2022 for an undisclosed amount. The fresh €100m brings the total raised by the firm since its founding to €300m.
Fund strategy
Capmont Technology invests in late seed stage to Series B startups that have proven traction and customer demand. With the new fund, it will write cheques of between €2-5m into 15-16 startups.
It plans to reserve 40% of the €100m for follow-ons — however, it has “additional soft commitments from LPs” which allows the fund to make co-investments in addition to those from the fund, especially at the later stages, says Dr Torsten Kreindl, managing partner at Capmont Technology.
The firm has already made seven investments from the new fund including Celus, a design platform offering solutions for electronic designers and component suppliers, and Arch Systems, an industry-4.0 machine data and AI platform for electronics and discrete manufacturers.
Kreindl says that the firm is keen to back more companies using AI to improve industrial processes, saying that Europe is a good place to build these companies “due to its substantial industrial-related customer base”.
LPs in the new fund include institutional investors, family offices and ultra high net worth individuals, such as entrepreneurs and C-level executives at enterprises in the DACH region, which Capmont declined to name.
