Earlybird Venture Capital
One of Europe most experienced venture capital firms (Berlin/Munich, founded 1997), investing across technology and life sciences from seed to growth stage pan-Europe; runs Earlybird Digital West (tech), Earlybird Health (life sciences) and Earlybird-X / Growth Opportunities funds; about 2.5bn EUR under management.
Earlybird Venture Capital is a Berlin venture capital firm with €2.5B AUM, 100 active companies and 35 exits.
- ·12 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 35 realized deals: 7 years.
- ·Fund cadence: ~6Y between vintages · last raise 2017.
Sector breakdown
135 companiesGeography breakdown
18 geographiesKey facts
Recent exits
Earlybird Venture Capital sold ImCheck Therapeutics to Ipsen in 2025 after 3 years.
Earlybird Venture Capital sold ThingsThinking to Aleph Alpha in 2025 after 4 years.
Earlybird Venture Capital sold wellabe to Mavie in 2024 after 4 years.
Earlybird Venture Capital sold Ctrl to Sana in 2024 after 1 year.
Coverage notes
4 funds tracked, 135 portfolio companies (100 active · 35 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Earlybird Venture Capital has raised, with its portfolio companies. Hand-checked from public filings.
Earlybird HealthHarvestingVC2017€185M18 assets3 exitsVC2017 · 9yr€185M183
Unrealized
18 held| Company | Entry |
|---|---|
| Alesi Surgical MedTech · UK | 2017 |
| Argá Medtech MedTech · Switzerland | 2021 |
| Ariceum Therapeutics Biotech · Germany | 2023 |
| Axon Vascular Europe MedTech · UK | 2025 |
| Gemma Biotherapeutics Biotech · US | 2024 |
| Greywolf Therapeutics Biotech · UK | 2023 |
| Haya Therapeutics Biotech · Switzerland | 2025 |
| Hilo MedTech · Switzerland | 2025 |
| iSTAR Medical MedTech · Belgium | 2019 |
| Noscendo MedTech · Germany | 2022 |
| Oviva HealthTech · Switzerland | 2020 |
| Perfuze MedTech · Ireland | 2022 |
| Polares Medical MedTech · Switzerland | 2018 |
| Portal Biotech Biotech · UK | 2025 |
| PrioThera Pharma · Ireland | 2020 |
| Prothea Technologies MedTech · UK | 2024 |
| Rivia HealthTech · Switzerland | 2025 |
| Shape Memory Medical MedTech · US | 2024 |
Realized
3 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| ImCheck Therapeutics Biotech · France | 2022 | 2025 | Trade Sale | Ipsen | – |
| Oculis Biotech · Switzerland | 2020 | 2023 | IPO | – | – |
| wellabe HealthTech · Germany | 2020 | 2024 | Trade Sale | Mavie | – |
Earlybird-X / Growth OpportunitiesHarvestingVC201720 assetsVC2017 · 9yr–20–
Unrealized
20 held| Company | Entry |
|---|---|
| Aleph Alpha AI/ML · Germany | 2020 |
| Black Forest Labs AI/ML · Germany | 2025 |
| Celus Deep Tech · Germany | 2022 |
| Colibri Deep Tech · France | 2023 |
| ConxAI Construction · Germany | 2022 |
| eleQtron Deep Tech · Germany | 2021 |
| Ethon AI AI/ML · Switzerland | 2023 |
| Greenlyte ClimateTech · Germany | 2023 |
| Involve Space Aerospace & Defence · Italy | 2024 |
| Isar Aerospace Aerospace & Defence · Germany | 2019 |
| Koppla Construction · Germany | 2021 |
| Korial AI/ML · Germany | 2021 |
| Marvel Fusion Deep Tech · Germany | 2022 |
| Nosh.bio FoodTech · Germany | 2023 |
| ORis Aerospace & Defence · Italy | 2026 |
| Parima FoodTech · France | 2021 |
| peopleIX HR Tech · Germany | 2025 |
| QuantumDiamonds Deep Tech · Germany | 2023 |
| Simr Deep Tech · US | 2017 |
| Tasty Urban FoodTech · Germany | 2023 |
Earlybird Digital East (legacy)VC20100 assets4 exitsVC2010 · 16yr–04
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Peak Games Gaming · Turkey | 2011 | 2020 | Trade Sale | Zynga | – |
| Socialbakers Data & Analytics · Czech Republic | 2011 | 2020 | Trade Sale | Astute Solutions | – |
| Trendyol E-commerce · Turkey | 2010 | 2018 | Trade Sale | Alibaba | – |
| UiPath SaaS · Romania | 2014 | 2021 | IPO | – | – |
Earlybird Digital WestHarvestingVC199962 assets28 exitsVC1999 · 27yr–6228
Unrealized
62 held| Company | Entry |
|---|---|
| Aiperia FoodTech · Germany | 2022 |
| Aiven Cloud Infrastructure · Finland | 2019 |
| Arago Deep Tech · Germany | 2025 |
| Aris Machina AI/ML · Sweden | 2025 |
| Avrea DevTools · Finland | 2025 |
| B2X Business Services · Germany | 2010 |
| Bayshore LegalTech · Germany | 2026 |
| BigChainDB Deep Tech · Germany | 2016 |
| Brandback E-commerce · Germany | 2025 |
| Briefcase Fintech · UK | 2024 |
| CartoDB Data & Analytics · Spain | 2015 |
| Ceartas DMCA Cybersecurity · Ireland | 2024 |
| Certivity SaaS · Germany | 2022 |
| Crate.io / CrateDB Data & Analytics · Austria | 2014 |
| Deed HR Tech · US | 2021 |
| Edyoucated EdTech · Germany | 2021 |
| eyva AI/ML · Germany | 2024 |
| finmid Fintech · Germany | 2021 |
| Flanks Fintech · Spain | 2023 |
| Forto Logistics · Germany | 2022 |
| Freeverse Software · Spain | 2022 |
| Getsafe InsurTech · Germany | 2019 |
| Hakuna InsurTech · Germany | 2022 |
| Hive Technologies Logistics · Germany | 2021 |
| HiveMQ Cloud Infrastructure · Germany | 2021 |
| Inkitt Consumer · Germany | 2015 |
| Junto Education EdTech · Germany | 2022 |
| Keel SaaS · UK | 2024 |
| M0 Fintech · US | 2023 |
| Matchory Data & Analytics · Germany | 2022 |
| McMakler PropTech · Germany | 2015 |
| Mona AI AI/ML · Germany | 2024 |
| N26 Fintech · Germany | 2015 |
| NcodiN Deep Tech · France | 2024 |
| Neotaste Hospitality · Germany | 2024 |
| Neuracore AI/ML · UK | 2025 |
| Nortech Software · Portugal | 2023 |
| Obligate Fintech · Switzerland | 2021 |
| OneFootball TMT · Germany | 2013 |
| Ottonova InsurTech · Germany | 2021 |
| Pillar Construction · Italy | 2026 |
| Porters Fintech · Switzerland | 2025 |
| Recursive AI/ML · UK | 2026 |
| remberg SaaS · Germany | 2022 |
| Riiico Construction · Germany | 2022 |
| Sennder Logistics · Germany | 2017 |
| ShapeShift Fintech · US | 2017 |
| Sikoia Fintech · UK | 2021 |
| Simscale SaaS · Germany | 2014 |
| Sintra AI/ML · Lithuania | 2025 |
| SLNG AI/ML · Spain | 2025 |
| smava Fintech · Germany | 2007 |
| Snyk Cybersecurity · UK | 2020 |
| spAitial Ai AI/ML · UK | 2025 |
| Terralayr ClimateTech · Switzerland | 2024 |
| The Interaction Company of California AI/ML · US | 2024 |
| TILT ClimateTech · UK | 2022 |
| TopK Data & Analytics · US | 2025 |
| Upvest Fintech · Germany | 2020 |
| Wallet Studio Fintech · Germany | 2024 |
| Workist AI/ML · Germany | 2022 |
| Xayn AI/ML · Germany | 2018 |
Realized
28 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| 6 Wunderkinder SaaS · Germany | 2011 | 2015 | Trade Sale | Microsoft | – |
| abaXX Technology Software · Germany | 1999 | 2007 | Trade Sale | Cordys | – |
| BridgeCo Deep Tech · Switzerland | 2000 | 2011 | Trade Sale | SMSC | – |
| Carpooling.com Mobility · Germany | 2009 | 2015 | Trade Sale | BlaBlaCar | – |
| conject PropTech · Germany | 2000 | 2016 | Trade Sale | Aconex | – |
| CrossEngage SaaS · Germany | 2017 | 2022 | Trade Sale | Tealium | – |
| Ctrl AI/ML · Israel | 2023 | 2024 | Trade Sale | Sana | – |
| DeepCode DevTools · Switzerland | 2018 | 2020 | Trade Sale | Snyk | – |
| dooyoo.de Consumer · Germany | 1999 | 2008 | Trade Sale | LeGuide.com | – |
| element 5 E-commerce · Germany | 1999 | 2004 | Trade Sale | Digital River | – |
| Fraugster Fintech · Germany | 2017 | 2023 | – | – | – |
| Identify Software DevTools · Israel | 2001 | 2006 | Trade Sale | BMC Software | – |
| Interhyp Fintech · Germany | 1999 | 2005 | IPO | – | – |
| Kiwilogic.com AI/ML · Germany | 1999 | 2006 | Trade Sale | Artificial Solutions | – |
| Lexoo LegalTech · UK | 2018 | 2024 | Trade Sale | Kalexius | – |
| Liquid M AdTech · Germany | 2013 | 2019 | Trade Sale | Smart AdServer | – |
| Movinga Logistics · Germany | 2015 | 2023 | Trade Sale | Shift | – |
| Myriad Fintech · Switzerland | 2001 | 2005 | – | – | – |
| NFON Telecom · Germany | 2010 | 2018 | IPO | – | – |
| OneShield InsurTech · US | 1999 | 2020 | Trade Sale | Pacific Lake Partners / Bain Capital Credit | – |
| RapidMiner Data & Analytics · US | 2013 | 2022 | Trade Sale | Altair Engineering | – |
| Scoreloop Gaming · Germany | 2009 | 2011 | Trade Sale | BlackBerry (Research In Motion) | – |
| Service Partner One Business Services · Germany | 2016 | 2019 | Trade Sale | Alfred Kärcher | – |
| ThingsThinking AI/ML · Germany | 2021 | 2025 | Trade Sale | Aleph Alpha | – |
| Tipp24 Gaming · Germany | 1999 | 2005 | IPO | – | – |
| Ubitricity Mobility · Germany | 2010 | 2021 | Trade Sale | Shell | – |
| urbia.com Consumer · Germany | 1999 | 2011 | Trade Sale | Gruner + Jahr | – |
| videdressing E-commerce · France | 2013 | 2018 | Trade Sale | Leboncoin | – |
About Earlybird Venture Capital
Earlybird Venture Capital is a leading DACH and pan-European venture capital firm with €2.5 billion of assets under management as of December 2024, headquartered in Berlin with offices in Munich, London and Milan. The firm was founded in 1997 by Hendrik Brandis and Christian Nagel and operates as a partner-owned independent VC restructured in 2024 with the Digital East spin-out. Earlybird has logged 9 IPOs and 33 trade sales across its 25 plus year history, with 13 new portfolio companies added in 2024 (9 Earlybird plus 4 Earlybird Health) and 20 new investments completed in trailing year as of 2026.
Investment thesis
Earlybird deploys capital through multi-strategy fund families spanning Earlybird (formerly Digital West), Earlybird Health, UNI-X (university spin-outs) and Growth Opportunities, targeting Pre-Seed through Series A with ticket sizes up to €12 million and allocation approximately 20% Pre-Seed, 60% Seed, 20% Series A. Sector focus spans enterprise SaaS, fintech, deep tech, health and biotech, climate and AI, with geographic deployment DACH-centric expanding to Central and Eastern Europe (post Digital East spin) and broader pan-European reach. The Day 1 Partner positioning provides hands-on operational support from earliest stages.
Recent activity
Recent realised exits include enterprise SaaS (2025), healthtech (2024) and fintech (2024). Recent investments include 13 new portfolio companies added in 2024 (9 Earlybird plus 4 Earlybird Health) with 20 new investments in the trailing year as of 2026. The platform continues active deployment across multi-strategy fund families.
Portfolio platforms backed by Earlybird Venture Capital made 7 researched add-on acquisitions during its ownership.
Frequently asked questions
- What investment strategy does Earlybird Venture Capital focus on?
- Earlybird Venture Capital focuses on VC strategies in the private equity space.
- How many portfolio companies does Earlybird Venture Capital have?
- Earlybird Venture Capital has 100 active portfolio companies and 35 completed exits and 4 funds tracked on GP Intel.
- Where is Earlybird Venture Capital headquartered?
- Earlybird Venture Capital is headquartered in Berlin, Germany.
- What is Earlybird Venture Capital's assets under management?
- Earlybird Venture Capital manages approximately €2.5B in assets under management.
- When was Earlybird Venture Capital founded?
- Earlybird Venture Capital was founded in 1997.
- What sectors does Earlybird Venture Capital invest in?
- Earlybird Venture Capital invests across TMT, Software, Healthcare.
- What are Earlybird Venture Capital's recent exits?
- Recent realized exits by Earlybird Venture Capital include: ImCheck Therapeutics (2025) to Ipsen; ThingsThinking (2025) to Aleph Alpha; wellabe (2024) to Mavie; Ctrl (2024) to Sana; Lexoo (2024) to Kalexius; Movinga (2023) to Shift; CrossEngage (2022) to Tealium; RapidMiner (2022) to Altair Engineering.
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