Merantix Capital
Merantix Capital is a Berlin-based early-stage AI venture capital firm and the investment arm of Merantix, an AI group founded in 2016 by Rasmus Rothe and Adrian Locher. It operates a studio-GP hybrid model: roughly half its capital builds AI-native companies from the pre-idea stage at the Merantix AI Campus in Berlin and half backs direct pre-seed and seed investments across Europe. Its first fund (2020, EUR 25m) incubated companies such as Vara, SiaSearch, Cambrium and Deltia, and in 2026 it closed a EUR 103m fund, its largest to date, targeting AI in logistics, manufacturing, healthcare, energy, robotics and enterprise software.
Key facts
Recent exits
Coverage notes
2 funds tracked, 15 portfolio companies (12 active · 3 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
15 companiesFunds & portfolio
Every fund Merantix Capital has raised, with its portfolio companies. Hand-checked from public filings.
Merantix Capital AI FundVC2026 · 0yr€103M7 active
Unrealized
7 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Logistics |  Switzerland | 2025 | |
| Software |  Germany | 2025 | |
| Healthcare | Germany | 2024 | |
| Biotech |  Austria | 2024 | |
| Biotech |  United Kingdom | 2025 | |
| Cybersecurity | Germany | 2024 | |
| Software | Germany | 2026 |
Switzerland· Entry 2025Germany· Entry 2025Germany· Entry 2024Austria· Entry 2024United Kingdom· Entry 2025Germany· Entry 2024Germany· Entry 2026Merantix Capital Fund IVC2020 · 6yr€25M5 active · 3 realized
Unrealized
5 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Software | Germany | 2021 | |
| Biotech | Germany | 2020 | |
| Industrials | Germany | 2022 | |
| Healthcare | Germany | 2023 | |
| Healthcare | Germany | 2018 |
Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Software | Germany | 2021 | 2023 | Trade Sale | – | ||
| Software | Germany | 2023 | 2025 | Trade Sale | – | ||
| Software | Germany | 2019 | 2021 | Trade Sale | – |
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Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
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