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468 Capital

468 Capital

Berlin, Germany·Founded 2020··468cap.com

468 Capital is a Berlin-based early-stage venture capital firm founded in 2020 by Ludwig Ensthaler, Florian Leibert and Alexander Kudlich, with additional offices in San Francisco and Madrid. It backs seed and Series A/B companies in deep tech, AI and automation, infrastructure and enterprise software, energy transition and consumer/prosumer software, having raised over USD 600M across two funds since inception.

AUM
€540M
Funds
2
vintages 2020–2022
Portfolio
9
Exits
2
SectorsSoftwareTMTEnergyIndustrials

Key facts

HQBerlin, Germany
Founded2020
Website468cap.com

Recent exits

CustomCells
Industrials · 2025 · 4yr hold
Planetly
Software · 2021 · 1yr hold

Coverage notes

2 funds tracked, 11 portfolio companies (9 active · 2 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund 468 Capital has raised, with its portfolio companies. Hand-checked from public filings.

2 funds
468 Capital Fund IIVC
2022 · 4yr€355M5 active

Unrealized

5 held
CartkenActive
IndustrialsUnited States· Entry 2024
FrequenzActive
EnergyGermany· Entry 2022
NovusActive
MobilityGermany· Entry 2024
OstromActive
EnergyGermany· Entry 2022
Terra OneActive
EnergyGermany· Entry 2024
468 Capital Fund IVC
2020 · 6yr€185M4 active · 2 realized

Unrealized

4 held
IndustrialsGermany· Entry 2020
RasaActive
IndustrialsGermany· Entry 2020
ConsumerGermany· Entry 2020
SuperchatActive
SoftwareGermany· Entry 2021

Realized

2 exits
CustomCellsExited 2025
IndustrialsGermany· Entry 2021
Trade Saleto
PlanetlyExited 2021
SoftwareGermany· Entry 2020
Trade Saleto
Track 468 Capital

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Last updated July 2026 · Sourced from public filings