Join Capital
Join Capital is a Berlin-based early-stage venture capital firm founded in 2015 that backs European deep-tech founders building enterprise, industrial and defence technologies, investing from seed to Series A with tickets of roughly EUR 1-5m. With offices in Berlin, London and Milan, it invests through Fund I, the EUR 112m Fund II and a newer Fund III focused on dual-use and defence deep tech.
Join Capital is a Berlin venture capital firm with 22 active companies and 5 exits.
- ·5 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 5 realized deals: 4 years.
- ·Fund cadence: ~5Y between vintages · last raise 2025.
Sector breakdown
27 companiesGeography breakdown
10 geographiesKey facts
Recent exits
Join Capital sold German Bionic to Archimedes Partners in 2025 after 7 years.
Join Capital sold Valispace to Altium in 2024 after 4 years.
Join Capital sold Proxyclick to Condeco in 2022 after 5 years.
Join Capital sold Office App to HqO in 2021 after 2 years.
Coverage notes
3 funds tracked, 27 portfolio companies (22 active · 5 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Join Capital has raised, with its portfolio companies. Hand-checked from public filings.
Join Capital Fund IIIVC20259 assetsVC2025 · 1yr–9–
Unrealized
9 held| Company | Entry |
|---|---|
| 36Zero Vision AI/ML · Germany | 2025 |
| enclaive Cybersecurity · Germany | 2025 |
| Hyperpilot Industrials · UK | 2025 |
| ISPTech Aerospace & Defence · Germany | 2026 |
| Kreios Space Aerospace & Defence · Spain | 2025 |
| Optics11 Deep Tech · Netherlands | 2025 |
| PhotonPath Deep Tech · Italy | 2025 |
| Quadsat Aerospace & Defence · Denmark | 2025 |
| Thyra Aerospace & Defence · Germany | 2026 |
Join Capital Fund IIVC2021€112M7 assetsVC2021 · 5yr€112M7–
Join Capital Fund IHarvestingVC20166 assets5 exitsVC2016 · 10yr–65
Unrealized
6 heldRealized
5 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| German Bionic Logistics · Germany | 2018 | 2025 | Secondary | Archimedes Partners | – |
| Office App PropTech · Netherlands | 2019 | 2021 | Trade Sale | HqO | – |
| Prodsmart Software · Portugal | 2017 | 2021 | Trade Sale | Autodesk | – |
| Proxyclick Software · Belgium | 2017 | 2022 | Trade Sale | Condeco | – |
| Valispace SaaS · Germany | 2020 | 2024 | Trade Sale | Altium | – |
About Join Capital
Join Capital is one of Europe's earliest enterprise-tech specialists with roughly €150-200 million of assets under management across funds as of December 2024 (Fund III in market with €50 million committed by the European Investment Fund and EIB), headquartered in Berlin with offices in London and Milan. The firm was founded in 2015 and operates as a partner-owned independent VC firm with LPs including the NATO Innovation Fund and the EIF.
Investment thesis
Join Capital deploys capital through approximately three funds (Fund I, Fund II, Fund III), targeting early-stage (seed and pre-Series A) deep-tech and B2B and enterprise-tech investing, building strategic strongholds in critical-technology sectors. Sector focus spans defence and intelligence and surveillance, space and aerospace, quantum and advanced computing, AI and cybersecurity, advanced materials and manufacturing and autonomous systems and robotics. Geographic deployment is Europe with a growing focus on Southern Europe (Italy, Iberia). The platform has pivoted decisively into defence and dual-use deep tech with NATO Innovation Fund backing.
Recent activity
Recent realised exits include engineering software and aerospace tech (2024), with approximately 7 exits cumulatively across the portfolio. Recent acquisitions include cybersecurity and confidential computing, satellite and space testing and space-propulsion startups (2024-2025), with a portfolio of approximately 27 companies across 10 countries. The platform continues active deployment of Fund III across the defence and deep-tech thesis.
Frequently asked questions
- What investment strategy does Join Capital focus on?
- Join Capital focuses on VC strategies in the private equity space.
- How many portfolio companies does Join Capital have?
- Join Capital has 22 active portfolio companies and 5 completed exits and 3 funds tracked on GP Intel.
- Where is Join Capital headquartered?
- Join Capital is headquartered in Berlin, Germany.
- When was Join Capital founded?
- Join Capital was founded in 2015.
- What sectors does Join Capital invest in?
- Join Capital invests across Software, Industrials, TMT.
- What are Join Capital's recent exits?
- Recent realized exits by Join Capital include: German Bionic (2025) to Archimedes Partners; Valispace (2024) to Altium; Proxyclick (2022) to Condeco; Office App (2021) to HqO; Prodsmart (2021) to Autodesk.
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