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eCAPITAL ENTREPRENEURIAL PARTNERS

eCAPITAL ENTREPRENEURIAL PARTNERS

Muenster, Germany·Founded 1999··ecapital.vc

eCAPITAL Entrepreneurial Partners is a Muenster-based venture capital firm founded in 1999 that funds early to growth stage deep-tech companies in software, cybersecurity, industry 4.0, new materials and cleantech.

AUM
€400M
Funds
6
vintages 2000–2022
Portfolio
34
Exits
22

Key facts

HQMuenster, Germany
Founded1999

Recent exits

Build38
Build38
Cybersecurity2026 · 5yr hold
Brighter AI
Brighter AI
Cybersecurity2025 · 6yr hold
Sweepatic
Cybersecurity2023 · 4yr hold
Milk the Sun
Milk the Sun
ClimateTech2023 · 9yr hold

Coverage notes

6 funds tracked, 56 portfolio companies (34 active · 22 realized). Verified weekly from public filings and deal announcements.

Sector breakdown

56 companies
Cybersecurity
17 · 30%
ClimateTech
13 · 23%
Deep Tech
7 · 13%
Industrials
7 · 13%
Mobility
2 · 4%
AI/ML
2 · 4%
SaaS
2 · 4%
Data & Analytics
1 · 2%

Funds & portfolio

Every fund eCAPITAL ENTREPRENEURIAL PARTNERS has raised, with its portfolio companies. Hand-checked from public filings.

6 funds
eCAPITAL VVC
2022 · 4yr12 active

Unrealized

12 held
1KOMMA5
1komma5Active
ClimateTechGermany· Entry 2022
Apheris
ApherisActive
CybersecurityGermany· Entry 2025
baobabActive
CybersecurityGermany· Entry 2025
beeOLED
beeOLEDActive
Deep TechGermany· Entry 2023
CleafyActive
CybersecurityItaly· Entry 2026
DawnguardActive
CybersecurityGermany· Entry 2026
Dryad
DryadActive
ClimateTechGermany· Entry 2022
FlexooActive
Deep TechGermany· Entry 2026
MOTOR Ai
MOTOR AiActive
MobilityGermany· Entry 2025
node.energyActive
ClimateTechGermany· Entry 2025
VisioLabActive
AI/MLGermany· Entry 2026
ZepoActive
CybersecurityGermany· Entry 2026
eCAPITAL CybersecurityCybersecurityHarvesting
2018 · 8yr€30M6 active · 3 realized

Unrealized

6 held
BlueID
BlueIDActive
CybersecurityGermany· Entry 2019
CounterCraft
CounterCraftActive
CybersecuritySpain· Entry 2020
Exein
ExeinActive
CybersecurityItaly· Entry 2021
ONEKEY
OnekeyActive
CybersecurityGermany· Entry 2020
CybersecurityGermany· Entry 2023
Tenzir
TenzirActive
CybersecurityGermany· Entry 2021

Realized

3 exits
Brighter AI
Brighter AIExited 2025
CybersecurityGermany· Entry 2019
Trade Saleto
Build38
Build38Exited 2026
CybersecurityGermany· Entry 2021
Trade Saleto
SweepaticExited 2023
CybersecurityBelgium· Entry 2019
Trade Saleto
eCAPITAL IVVCHarvesting
2017 · 9yr€100M7 active · 6 realized

Unrealized

7 held
AM POLYMERS
AM PolymersActive
IndustrialsGermany· Entry 2020
CreaPaper
CreaPaperActive
ClimateTechGermany· Entry 2017
Deep TechGermany· Entry 2018
Mythic
MythicActive
Deep TechUS· Entry 2017
nyris
nyrisActive
AI/MLGermany· Entry 2020
Papershift
PapershiftActive
HR TechGermany· Entry 2021
troy
troyActive
FintechGermany· Entry 2019

Realized

6 exits
BrandMakerExited 2021
SaaSGermany· Entry 2016
Secondaryto
envelio
envelioExited 2021
ClimateTechGermany· Entry 2019
Trade Saleto
IPlyticsExited 2022
Data & AnalyticsGermany· Entry 2019
Trade Saleto
Rhebo
RheboExited 2021
CybersecurityGermany· Entry 2016
Trade Saleto
RIPS TechnologiesExited 2020
CybersecurityGermany· Entry 2017
Trade Saleto
UltraSoCExited 2020
Deep TechUK· Entry 2019
Trade Saleto
eCAPITAL IIIVCHarvesting
2009 · 17yr7 active · 6 realized

Unrealized

7 held
CysalActive
IndustrialsGermany· Entry 2012
Heliatek
HeliatekActive
ClimateTechGermany· Entry 2009
ClimateTechGermany· Entry 2012
Subra
SubraActive
ClimateTechGermany· Entry 2016
temiconActive
Deep TechGermany· Entry 2014
Variowell
VariowellActive
IndustrialsGermany· Entry 2009
VMRay
VMRayActive
CybersecurityGermany· Entry 2016

Realized

6 exits
Geo-EnExited 2017
ClimateTechGermany· Entry 2012
Trade Saleto
GreenergeticExited 2019
ClimateTechGermany· Entry 2013
Trade Saleto
Milk the Sun
Milk the SunExited 2023
ClimateTechGermany· Entry 2014
Trade Saleto
sonnen
sonnenExited 2019
ClimateTechGermany· Entry 2013
Trade Saleto
Subitec
SubitecExited 2019
ClimateTechGermany· Entry 2012
Trade Sale
svh24.deExited 2013
E-commerceGermany· Entry 2010
Trade Saleto
eCAPITAL IIVCHarvesting
2005 · 21yr2 active · 5 realized

Unrealized

2 held
IndustrialsGermany· Entry 2008
Open-Xchange
Open-XchangeActive
SoftwareGermany· Entry 2008

Realized

5 exits
Gollmann
GollmannExited 2017
IndustrialsGermany· Entry 2009
MBOto
JedoxExited 2021
SaaSGermany· Entry 2008
Secondaryto
Novaled
NovaledExited 2013
Deep TechGermany· Entry 2005
Trade Saleto
PACE
PACEExited 2016
MobilityGermany· Entry 2007
Trade Saleto
Pyramid ComputerExited 2020
IT ServicesGermany· Entry 2007
Trade Saleto
eCAPITAL IVCRealized
2000 · 26yr0 active · 2 realized

Realized

2 exits
INMATEC
InmatecExited 2021
IndustrialsGermany· Entry 1999
Trade Saleto
Lumics
LumicsExited 2011
IndustrialsGermany· Entry 2005
Trade Saleto
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About eCAPITAL ENTREPRENEURIAL PARTNERS

eCAPITAL Entrepreneurial Partners is a long-track-record DACH deep-tech venture capital firm with more than €400 million of fund volume across its own funds as of December 2024, headquartered in Münster, Germany. The firm was founded in 1999 as an independent venture capital firm and operates as a partner-owned independent VC (eCAPITAL entrepreneurial Partners AG) with approximately 129 investments lifetime, having led early rounds in category winners such as sonnen, Novaled and Jedox.

Investment thesis

eCAPITAL Entrepreneurial Partners deploys capital through approximately three active funds (eCAPITAL IV 2017, eCAPITAL Cybersecurity 2018, eCAPITAL V 2022), targeting early-stage to growth-stage technology investing with lead-investor positions. Sector focus spans software and IT, cybersecurity, Industry 4.0, new and silicon materials, cleantech and energy. Geographic deployment is anchored in DACH (Germany, Austria, Switzerland) with broader Europe. The platform combines a long DACH deep-tech track record with a dedicated dual focus on cybersecurity and decarbonisation.

Recent activity

Realised exits in the 2024-2026 window are investment-led with notable historical exits in energy and materials. Recent acquisitions include QuoIntelligence (cybersecurity Series A, 2026), VisioLab (software and AI Series A, 2026) and 1KOMMA5° (energy services, 2025). The platform continues active deployment across the cybersecurity and decarbonisation thesis. Detailed buyer names and multiple data available on Pro at €29/month.

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Last updated March 2026 · Sourced from public filings · Report an issue