NAP Investment Management

About NAP Investment Management

NAP Investment Management is a Berlin pre-seed and seed venture capital firm with more than €260 million across funds as of December 2024 (Fund III first close €160 million in 2022), headquartered in Berlin. The firm was founded in 2016 (formerly Cavalry Ventures Management, rebranded to NAP) by Rouven Dresselhaus, Claude Ritter and Stefan Walter, operating as an independent partner-owned VC and BaFin-supervised manager of special AIFs and EuVECA funds, backed by the EIF and the EU InvestEU programme.

Investment thesis

NAP Investment Management deploys capital through approximately three plus funds across the Cavalry and NAP lineage, targeting pre-seed and seed venture capital via an Expert Founder Fund approach with initial checks of approximately €0.5-4 million into technical and domain-expert founding teams. Sector focus spans B2B software, infrastructure software, fintech, proptech and construction tech, AI and climate and EV software. Geographic deployment is Germany core with broader Europe. The platform follows a deliberately consistent thesis of backing deep-expertise founding teams, early into names like Aleph Alpha and Usercentrics.

Recent activity

Recent realised exits span cybersecurity and privacy-software and B2B SaaS portfolio maturation among earlier investments, with no specific exit dated 2024-2026 confirmed. Recent acquisitions include active pre-seed and seed deployment across B2B software, AI and infrastructure startups (2024-2025), with the portfolio including PlanRadar, Ampeco and Flip. The platform continues active deployment across the European pre-seed and seed mandate. Detailed buyer names and multiple data available on Pro at €29/month.