Early-stage VC, Berlin
468 Capital
Venture capital firm · Berlin · Founded 2020
Quick read
468 Capital is a Berlin-based early-stage VC firm founded in 2020 by operators with backgrounds building HelloFresh, FoodPanda, and Mesosphere. It raised $200M for Fund I — the largest debut VC fund in European history at the time — and followed with a $400M Fund II in 2022, bringing total capital to $1.3B. The firm backs founders with global ambitions across the US and Europe, writing checks at Seed into category-defining technology companies.
Key facts
- Founded
- 2020
- Founders
- Ludwig Ensthaler, Alexander Kudlich, Florian Leibert
- Employees
- 11-50
- Sectors
- saas, ai, climate, fintech, enterprise, devtools
- Website
- 468cap.com/
Investment thesis
468 Capital backs early-stage, founder-led technology companies with global ambitions, writing Seed-stage checks into businesses it believes can define or dominate their categories. The team concentrates on software, AI, climate and energy transition, and developer tools, investing across Europe and North America.
Recent activity
- Apr 2026investment468 Capital backed Cata, an e-commerce and marketplaces startup, in a $5.30M Seed round. tipranks.com
- Apr 2026investment468 Capital participated in a $5.00M Seed round for Astor, a fintech and financial services company. tipranks.com
- Mar 2025investmentPhilosopherKing raised $3M in a Seed round with 468 Capital and 212 Vc participating. tracxn.com
- Aug 2025investment468 Capital joined a $3.3M Seed round for a Web3 fintech project spanning API, DApp, and stablecoin categories, alongside Y Combinator, Bitso, and others. crypto-fundraising.info
- undatedpressTractive, a 468 Capital Fund I portfolio company, was acquired by Bending Spoons. The firm backed Tractive when it was building toward becoming a household brand in pet technology. linkedin.com
- undatedinvestment468 Capital led a $3.3M Seed round for Niko Energy alongside Picus Capital. Niko converts homes and small businesses in Mexico to solar with no upfront costs. linkedin.com
- undatedinvestment468 Capital co-led a $16M Seed round for Jua.ai alongside the Green Generation Fund. Jua builds AI models to improve understanding of natural-world systems. linkedin.com
- Mar 2026investment468 Capital participated in QFEX's $9.5M Seed round led by General Catalyst, alongside Liquid2 Ventures, Paul Graham, Moonfire Ventures, Goodwater, Y Combinator, and Nexus Venture Partners. cbinsights.com
- Mar 2026investmentTools for the Commons closed a $1.9M pre-seed round with 468 Capital among the backers. tracxn.com
- Jan 2026press468 Capital was featured in a StartupTicker roundup covering German venture activity, listed alongside Fernride, Quantum Systems, and KRUU. cbinsights.com
- Jan 2026investmentPoetiq secured $45.8M in Seed funding with 468 Capital among the participating investors. tracxn.com
- Dec 2025investmentDataChain (formerly Iterative.ai) raised $20M with 468 Capital participating alongside True Ventures and Afore Capital. tracxn.com
Notable investments
- CataSeedApr 2026tipranks.com
- AstorSeedApr 2026tipranks.com
- HoneyHiveSeedundatedtipranks.com
- PhilosopherKingSeedMar 2025tracxn.com
- Niko EnergySeedundatedlinkedin.com
- Jua.aiSeedundatedlinkedin.com
- QFEXSeedMar 2026cbinsights.com
- Tools for the CommonsPre-SeedMar 2026tracxn.com
- PoetiqSeedJan 2026tracxn.com
- DataChain (Iterative.ai)GrowthDec 2025tracxn.com
- OneLotSeed2025tracxn.com
- DataChain (Iterative.ai)Series ADec 2025tracxn.com
Key people
Named individuals at the firm. We don't expose direct email or phone — use their LinkedIn for outreach.
- Ludwig Ensthaler · General Partner
- Florian Leibert · General Partner
- Alexander Kudlich · General Partner
- Philipp Seifert · Partner
- Mark Pols · Partner
- Mario Götze · Investor
Sources
- About › 468 Capital
- 468 Capital Raises $400 Million Fund II
- 468 Capital Portfolio – CB Insights
- 468 Capital – Tracxn Investor Profile 2026
- 468 Capital | LinkedIn
- 468 Capital on LinkedIn: Jua.ai $16M Seed round
- 468 Capital Investment Portfolio | PitchBook
- https://tracxn.com/d/venture-capital/468-capital/__PvJ3zdM2BK-utw9SyjkrtArkRvai6Jiseu1AwF0YlmU
- https://www.tipranks.com/private-companies/investor/468-capital
- https://crypto-fundraising.info/funds/468-capital/
- https://www.linkedin.com/in/florianleibert
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Frequently asked
What is 468 Capital?+
468 Capital is a Berlin-based early-stage VC firm founded in 2020 by operators with backgrounds building HelloFresh, FoodPanda, and Mesosphere. It raised $200M for Fund I — the largest debut VC fund in European history at the time — and followed with a $400M Fund II in 2022, bringing total capital to $1.
Where is 468 Capital headquartered?+
468 Capital is headquartered in Berlin, Germany.
When was 468 Capital founded?+
468 Capital was founded in 2020 by Ludwig Ensthaler, Alexander Kudlich, Florian Leibert.
What sectors does 468 Capital invest in?+
468 Capital focuses on saas, ai, climate, fintech, enterprise, devtools. They primarily invest in these sectors.
How do I prepare for a meeting with 468 Capital?+
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