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BonVenture

MunichBONVENTURE
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Classification
Slugbonventure
HQMunich
Stage FocusThey target late seed to Series A impact startups achievi…
Intel StatusAccepting submissions
🔥 BERNIE'S HOT TAKE

BonVenture is Germany's OG impact fund - they've been doing this since before 'impact' was trendy, which gives them serious street cred and deep networks. They're the first German fund officially EuSEF-registered and manage around €100M across multiple funds with 60+ impact investments. The team is 50% female and 2/3 female at partner level, which actually matters for deal flow and founder rapport. What's refreshing is they don't just ESG-wash - they actually measure impact with their own methodology. The downside? They're pretty rigid about their impact thesis, so if you're not solving a clear social/environmental problem with measurable outcomes, don't bother. Also, being Munich-based means they're not as plugged into Berlin's startup scene, though that's changing.

KEY TAKEAWAYS
  • Best for: DACH impact startups with measurable social/environmental outcomes in health, climate, education
  • Watch out for: Rigid impact measurement requirements - they'll grill you on quantifiable social returns
  • Known for: 20+ years experience, strong female leadership, actual impact measurement beyond ESG theater
Investment Thesis

BonVenture empowers impact-driven founders with capital and expertise for true impact and return, focusing on founders who want both financial and social outcomes and are authentic, driven and diverse. They operate within the SDGs framework where investees must address a major societal or ecological problem and clearly quantify their social impact.

Stage & Sector Focus

They target late seed to Series A impact startups achieving product-market fit with tech-enabled business models generating first revenues, offering €1M-2.5M initial tickets for 12+ months runway. Focus on health, equality & education, climate & nature, and sustainable consumption. Primarily invests in seed rounds in Germany-based startups across Enterprise Applications, Environment Tech, and Consumer sectors.

Notable Portfolio
FENECONPerfoodSpecialsitterPlaneteersResourcifynode.energyEmmy SharingAfB social & green IT
Key Partners
Dr. Erwin Stahl
Founding Managing Partner

Founder of BonVenture and one of the 'Founding Fathers' of Impact Investing in Germany, initiated BonVenture in 2002 as the first impact investing fund in German-speaking region. Investment focus is on nature tech, biodiversity, climate and energy, education, and AI-supported business models. Previously founder of Upside Ventures and worked as Manager at Wellington Partners in Munich.

Angela Lawaldt
Managing Partner

Founder of three startups in medical engineering, education and digital health, joined BonVenture as Impact Investor in 2009. Her investment focus lies on health and education as well as digital solutions. She represents BonVenture's high-impact approach that measures and quantifies social/ecological impact rather than just excluding companies, investing €0.5-2M in climate, education, health and sustainable consumption.

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