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Cavalry Ventures

Cavalry Ventures

Berlin, Germany·Founded 2016··cavalry.vc

Cavalry Ventures is a Berlin-based early-stage venture capital firm founded in 2016 that leads pre-seed and seed rounds in European software startups, writing checks of roughly EUR 0.5-4m across SaaS, fintech, proptech, deep tech and consumer verticals. Backed by DACH founders and the European Investment Fund, it has raised three funds totaling over EUR 260m and built a portfolio of 50-plus companies including unicorn Forto, BRYTER, PlanRadar and Aleph Alpha. The firm rebranded to NAP in early 2025.

AUM
€263M
Funds
3
vintages 2016–2022
Portfolio
19
Exits
2
SectorsSoftwareTMTHealthcareBusiness Services

Key facts

HQBerlin, Germany
Founded2016
Websitecavalry.vc

Recent exits

WhenThen
Fintech · 2023 · 2yr hold
Planetly
Software · 2021 · 1yr hold

Coverage notes

3 funds tracked, 21 portfolio companies (19 active · 2 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

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

3 funds
Cavalry Ventures IIIVC
2022 · 4yr€160M4 active

Unrealized

4 held
EnergyBelgium· Entry 2024
Deltia.aiActive
Deep TechGermany· Entry 2024
EnzaiActive
SoftwareUnited Kingdom· Entry 2023
XaverActive
FintechGermany· Entry 2024
Cavalry Ventures IIVC
2020 · 6yr€80M9 active · 2 realized

Unrealized

9 held
Deep TechGermany· Entry 2020
AnyoneActive
ConsumerSweden· Entry 2021
EmpionActive
SoftwareGermany· Entry 2022
FlipActive
SoftwareGermany· Entry 2020
LhotseActive
SaaSGermany· Entry 2021
LoctaxActive
FintechBelgium· Entry 2021
NoryActive
HospitalityIreland· Entry 2021
PatronusActive
HealthcareGermany· Entry 2022
VoiceLineActive
SaaSGermany· Entry 2021

Realized

2 exits
PlanetlyExited 2021
SoftwareGermany· Entry 2020
Trade Saleto
WhenThenExited 2023
FintechIreland· Entry 2021
Trade Saleto
Cavalry Ventures IVC
2016 · 10yr€23M6 active

Unrealized

6 held
AfilioActive
HealthTechGermany· Entry 2019
BRYTERActive
SoftwareGermany· Entry 2018
FortoActive
LogisticsGermany· Entry 2017
McMaklerActive
IndustrialsGermany· Entry 2017
PlanRadarActive
SaaSAustria· Entry 2017
SoftwareGermany· Entry 2018
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Last updated July 2026 · Sourced from public filings