Tengelmann Ventures
Tengelmann Ventures is the corporate venture capital arm of the Muelheim-based Tengelmann family retail group, investing off the group balance sheet as an evergreen CVC since 2009. Based in Munich, it backs early-stage and growth B2C and B2B companies across the DACH region with roughly EUR 1-15m per company, drawing on decades of Tengelmann retail and consumer expertise. Its track record includes early bets on unicorns Zalando, Delivery Hero and SumUp, and it holds a current portfolio of food tech, edtech, e-commerce and consumer brands.
Key facts
Recent exits
Coverage notes
1 fund tracked, 17 portfolio companies (12 active · 5 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Tengelmann Ventures has raised, with its portfolio companies. Hand-checked from public filings.
Tengelmann Ventures EvergreenEvergreen2009 · 17yr12 active · 5 realized
Unrealized
12 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Blickfeld | Deep Tech | Germany | 2017 |
| CareerFoundry | TMT | Germany | 2015 |
| Coffee Circle | Consumer | Germany | 2011 |
| Edurino | TMT | Germany | 2022 |
| Felmo | Healthcare | Germany | 2021 |
| Hashtag You | Consumer | Germany | 2021 |
| KaliaLab | Consumer | Germany | 2025 |
| Marvel Fusion | Energy | Germany | 2024 |
| Planted | Consumer | Switzerland | 2022 |
| Quivo | Logistics | Austria | 2022 |
| SumUp | Fintech | United Kingdom | 2012 |
| Wholey | Consumer | Germany | 2023 |
Realized
5 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Delivery Hero | Consumer | Germany | 2011 | 2017 | IPO | – | – |
| Lazada | E-commerce | Singapore | 2013 | 2016 | Trade Sale | – | |
| Masterplan | Software | Germany | 2018 | 2025 | Trade Sale | – | |
| Rebike | Mobility | Germany | 2022 | 2026 | Trade Sale | – | |
| Zalando | E-commerce | Germany | 2010 | 2014 | IPO | – | – |
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Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
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