What investment strategy does EnBW New Ventures focus on?

EnBW New Ventures focuses on VC, Growth strategies in the private equity space.

How many portfolio companies does EnBW New Ventures have?

EnBW New Ventures has 16 active portfolio companies and 8 completed exits and 1 fund tracked on GP Intel.

Where is EnBW New Ventures headquartered?

EnBW New Ventures is headquartered in Karlsruhe, Germany.

What is EnBW New Ventures's assets under management?

EnBW New Ventures manages approximately €100M in assets under management.

When was EnBW New Ventures founded?

EnBW New Ventures was founded in 2015.

What sectors does EnBW New Ventures invest in?

EnBW New Ventures invests across Energy, Software, TMT, Business Services.

What are EnBW New Ventures's recent exits?

Recent realized exits by EnBW New Ventures include: Theva (2026) to Subra; Cleverciti (2025) to ParkHelp Technologies; deepomatic (2025) to IQGeo; Greenbird (2023) to GE Vernova; gridscale (2023) to OVHcloud; DZ4 (2022) to EnBW; Lumenaza (2021) to Next Kraftwerke; replex (2021) to Cisco.

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EnBW New Ventures

Karlsruhe, Germany·Founded 2015·

Venture Capital Growth Equity

·env.vc

EnBW New Ventures (ENV) is the corporate venture capital arm of German utility EnBW, founded in 2015 and based in Karlsruhe. It invests from a EUR 100M evergreen balance-sheet vehicle in European Series A and growth-stage startups making energy and infrastructure digital and sustainable, spanning renewables, batteries, transport electrification, power grids and enterprise software. It writes EUR 1-10M tickets as lead or co-investor and has backed 23 startups with 8 exits, plus four VC funds.

AUM

€100M

Funds

vintages 2015

Portfolio

Exits

EnBW New Ventures is a Karlsruhe venture capital firm with €100M AUM, 16 active companies and 8 exits.

SectorsEnergy Software TMT Business Services

Key takeaways

·8 exits in the last 5 years · consistent DPI cadence.
·Average hold across 8 realized deals: 5 years.

Sector breakdown

24 companies

SaaS

5 · 21%

ClimateTech

5 · 21%

Mobility

4 · 17%

Software

3 · 13%

Cloud Infrastructure

2 · 8%

Deep Tech

2 · 8%

AI/ML

1 · 4%

Energy

1 · 4%

Geography breakdown

7 geographies

Germany

15 · 63%

Austria

3 · 13%

Norway

2 · 8%

France

1 · 4%

Denmark

1 · 4%

Belgium

1 · 4%

Key facts

HQKarlsruhe, Germany

Founded2015

Employees13+

Websiteenv.vc

Recent exits

EnBW New Ventures sold Theva to Subra in 2026 after 9 years.

EnBW New Ventures sold Cleverciti to ParkHelp Technologies in 2025 after 7 years.

EnBW New Ventures sold deepomatic to IQGeo in 2025 after 3 years.

EnBW New Ventures sold Greenbird to GE Vernova in 2023 after 3 years.

Partners

Marc UmberHead of Investments

Coverage notes

1 fund tracked, 24 portfolio companies (16 active · 8 realized). Verified weekly from public filings and deal announcements.

Investment team

Senior partners. Hand-checked from public filings and the firm's own site.

Marc Umber

Head of Investments

Funds & portfolio

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

1 fund

Fund

Strategy

Vintage

Size

Assets

Exits

EnBW New Ventures Evergreen VehicleActive

Evergreen2015€100M16 assets8 exits

Evergreen

2015 · 11yr

€100M

Unrealized

16 held

Company	Entry
3yourmind SaaS · Germany	2020
babelforce SaaS · Germany	2022
Cozero SaaS · Germany	2024
Cycle Mobility · Germany	2023
Easelink Mobility · Austria	2022
Elephant Software · Germany	2026
enspired ClimateTech · Austria	2021
Flexecharge ClimateTech · Denmark	2025
Holo-Light Deep Tech · Austria	2019
Intigriti Cybersecurity · Belgium	2022
Spoor ClimateTech · Norway	2025
Sunhat SaaS · Germany	2024
Validaitor Software · Germany	2025
vialytics SaaS · Germany	2023
VivaCity Mobility · UK	2023
volytica diagnostics ClimateTech · Germany	2023

Realized

8 exits

Company	Entry	Exit	Type	Buyer	MOIC
Cleverciti Mobility · Germany	2018	2025	Trade Sale	ParkHelp Technologies	–
deepomatic AI/ML · France	2022	2025	Trade Sale	IQGeo	–
DZ4 Energy · Germany	2019	2022	Trade Sale	EnBW	–
Greenbird Software · Norway	2020	2023	Trade Sale	GE Vernova	–
gridscale Cloud Infrastructure · Germany	2019	2023	Trade Sale	OVHcloud	–
Lumenaza ClimateTech · Germany	2016	2021	Trade Sale	Next Kraftwerke	–
replex Cloud Infrastructure · Germany	2017	2021	Trade Sale	Cisco	–
Theva Deep Tech · Germany	2017	2026	Trade Sale	Subra	–

Frequently asked questions

What investment strategy does EnBW New Ventures focus on?: EnBW New Ventures focuses on VC, Growth strategies in the private equity space.
How many portfolio companies does EnBW New Ventures have?: EnBW New Ventures has 16 active portfolio companies and 8 completed exits and 1 fund tracked on GP Intel.
Where is EnBW New Ventures headquartered?: EnBW New Ventures is headquartered in Karlsruhe, Germany.
What is EnBW New Ventures's assets under management?: EnBW New Ventures manages approximately €100M in assets under management.
When was EnBW New Ventures founded?: EnBW New Ventures was founded in 2015.
What sectors does EnBW New Ventures invest in?: EnBW New Ventures invests across Energy, Software, TMT, Business Services.
What are EnBW New Ventures's recent exits?: Recent realized exits by EnBW New Ventures include: Theva (2026) to Subra; Cleverciti (2025) to ParkHelp Technologies; deepomatic (2025) to IQGeo; Greenbird (2023) to GE Vernova; gridscale (2023) to OVHcloud; DZ4 (2022) to EnBW; Lumenaza (2021) to Next Kraftwerke; replex (2021) to Cisco.