468 Capital
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This is the Rocket Internet alumni club rebranded for the deep tech era. The founding team - Kudlich from Rocket Internet/GFC, Ensthaler from GFC, and Leibert from Mesosphere - brings serious operational DNA and a track record of scaling tech companies. They've raised $1.3B across two funds since 2020, with Fund II closing at $400M. The good: they actually understand enterprise software and have skin in the game as former founders. They're betting big on MLOps and open source commercialization with investments in QuestDB, Iterative.ai, and ActivLoop. The watch-out: they have 3 unicorns (Razor Group, ClickUp, PandaDoc) but also some portfolio company exits that suggest they're not afraid to cut losses. They move fast and have strong conviction, but expect them to be hands-on - these aren't passive check-writers.
- —Best for: Deep tech founders who want ex-operators with enterprise scaling experience
- —Watch out for: High expectations and hands-on involvement from partners with big company DNA
- —Known for: Early bets on MLOps, open source commercialization, and AI infrastructure
468 Capital focuses on Seed, Series A and Series B fundings of international founders and companies specializing in DeepTech, AI, automation, software, as well as marketplaces and consumers. Their investment focus spans four key sectors: AI & Automation, Infrastructure & Enterprise Software, Energy Transition & Climate, and Prosumer & Consumer. They pride themselves on being the first to invest and back startups for the long-term.
468 Capital primarily invests in Seed stage (76 investments with $5.3M average) and Series A (18 investments with $14.2M average), with some Series B deals ($64.2M average). Their investments span Enterprise Applications, High Tech, Enterprise Infrastructure, Consumer and FinTech sectors. Within these broader verticals, the emerging MLOps category is a key area of focus for the firm.
Alexander Kudlich has over 15 years experience in technology investing. He was previously a member of the management board at Rocket Internet SE and held various managerial positions in Axel Springer Group. He's a former Global Founders Capital managing partner and Rocket Internet board member.
Florian is the D2iQ co-founder and former CEO of Mesosphere for 6+ years. He has a history of building and leading successful technology companies like Mesosphere, with combined market capitalization and valuations of over $50B across the founding team's experience.
Ludwig is a former Global Founders Capital partner. He focuses on deep tech investments and was quoted discussing their investment in Jua.ai, 'building the world's first foundation AI for physics and the natural world.' He's active in AI regulation discussions, warning that technology evolves so fast that regulations risk becoming obsolete quickly.
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