HV Capital

What comes first: scaling your green tech to attract mainstream capital, or securing mainstream capital to scale your green tech? This conundrum is not new to founders building #FOAK solutions. In a bid to find answers, we brought together founders, investors, and industry leaders from across Europe to discuss creative FOAK solutions. 💡 Tobias Lechtenfeld (Tech for Net Zero & 1.5° Ventures) shared some wisdom: now isn’t the time to reinvent the wheel! Instead, he suggested that builders in the space look to trailblazers and draw inspiration from them. Building a refinery-like plant? Look at how refineries are financed. Selling CapEx heavy products? Don’t make your customers figure out financing—include it in your offering. 🔍 Gregor Burkart, CFA (HV portfolio company Enpal) shared some brilliant insights on running an asset-heavy business model in an asset-light way. At Enpal, they achieve this by separating operational risks from asset-based risks and layering their cash flows. This smart strategy allows them to access the lowest cost financing while meeting all fundraising needs. 🏭 David Hanf (DePoly, previously at HV portfolio company thermondo) tackled the broader FOAK puzzle and shared key insights on where to begin. To secure funding, first nail down your operations. Investors are keen on plant location, feedstock availability, and offtake agreements. And don’t forget—align your timeline with potential investors. If you start planning your FOAK plant only after your demo plant is commissioned, you’re already behind. 💰 Philip Kessler (TURN2X) shared valuable tips on financing your FOAK with your customer. Large corporations often have the capital needed for a FOAK plant. The secret? Create the right incentives and highlight long-term benefits to encourage your customer to be the first mover. 🔑 Gustav Bolin from McKinsey & Company wrapped up the evening with an inspiring workshop on a crucial challenge: scaling asset-heavy businesses at the pace of software. New ventures need to outcompete existing technologies purely on cost. Those who can reduce their costs the fastest will unlock the best financing opportunities, determining the ultimate winners. The Big Conclusion: Even though Europe, especially Germany, is a hotbed for innovative solutions, scaling these ideas into commercially viable products requires companies to de-risk and attract enough capital. In FOAK terms, this means crossing the "Valley of Death." With collaboration between VCs and other investors, this crossing can be facilitated. Thank you to everyone who joined, shared their insights, and who made this gathering possible!     Cc: Jan, Maxi, Jannis

Brussels was abuzz last week with the EthCC Community! The #EthCC conference was packed with fresh insights, inspiring people, and fantastic side events like the “Meet the VC” organized by Blockchain Founders Fund. We were thrilled to participate alongside LBank, Bitlayer, and Liquify, and to meet the 400 new and familiar faces who attended.  What was top of mind? Discussions ranged from Restaking, AI Agents, DePIN, SocialFi, DeSci, and Security. We’re already looking forward to reuniting with the community soon! Cc Kee (Kerstin) Eismann #EthCC  

📢 Have you heard: Sdui acquires FoxEducation from GoStudent to build the European market leader in vertical software for schools and raises €21 million in fresh capital 🎉    HV Capital co-led this funding round alongside Summiteer, with participation from Haniel, Brighteye Ventures, Michael Hinderer, and HTGF | High-Tech Gründerfonds. The new capital will fuel Sdui's growth across Europe as it pioneers a new path for education for more than 22,000 organisations.   Congratulations to Daniel Zacharias, Jan Micha Kroll, and the entire Sdui team. The future of edtech is looking bright and HV is delighted to be a part of this journey! ❤️   Luisa Bomke and Nadine Schimroszik from Handelsblatt share more in the article linked in the comments below.    Cc Felix Klühr Dr. Laura Seifert 

Again raises $43 million from GV (Google Ventures) and HV Capital to build full-scale decarbonisation plants. Welcome to the HV portfolio! ❤️ Again was born out of research developed over 10 years at the DTU - Technical University of Denmark, Stanford University, and Massachusetts Institute of Technology. In a nutshell, Again combines CO2 captured from flue gases, hydrogen, and a biological feedstock to produce green base chemicals like acetate through a patented fermentation process. By capturing CO2 and using minimal energy, the company produces carbon-negative base chemicals at a highly competitive cost. Their plant in Denmark already converts up to a ton of CO2 per day into essential chemicals like acetate, vital for industries such as adhesives, plastics, and cosmetics. The fresh capital, which also includes investors KOMPAS VC, Export and Investment Fund of Denmark, ACME Capital, and Atlantic Labs, will be used to build additional facilities to combat the climate crisis at scale and support the company’s expansion in Europe and the US. Big congratulations to Maximilian Kufner, Dr Torbjørn Ølshøj Jensen, and the entire Again team! Prarthana Prakash from Fortune shares more in the article linked in the comments below. CC Jan Miczaika Maxi Pethö-Schramm  

We’re excited to announce that One Data closes €32 million Series B extension and joins the HV portfolio! The round was co-led by Vsquared Ventures, Molten Ventures, and HV. 🤔 What is One Data solving? Data access and processing is still one of the major roadblocks for companies to leverage data and generate value from AI applications. One Data empowers the smart collection, connection and usage of data for all data-driven and business applications, especially for GenAI.     💡 Dr. Andreas Böhm, Founder and CEO of One Data, explains that: “The next major jump in productivity can only happen if businesses start using data more effectively. Our new and unique technology turns siloed data automatically into reliable, valuable data products, enabling companies to establish a consistent data governance policy.”    🌎 The capital will be used to scale One Data’s next-gen data product management platform internationally – a key enabler for meaningful GenAI, AI, Business Intelligence and Process Mining.    Congratulations to Dr. Andreas Böhm, Gregor Wiest, Dr. Stefan Roskos, and the entire One Data team! Read more via the press release linked in the comments below. Cc David Kuczek Manal Belaouane Fabian Gruner

🌎⚡️ ecoplanet launches Procurement Plus - your new B2B energy procurement partner! Today, sustainable energy solutions are a necessity because the way businesses source their energy significantly impacts both the environment and their bottom line. At a time when companies face volatile energy prices and new regulations, every saving counts. HV portfolio company, ecoplanet's newly launched Procurement Plus offers customers comprehensive cost control options, direct savings, and bespoke procurement strategies with flexible components tailored to their specific consumption patterns. How does Procurement Plus achieve this?   💻 Cutting-edge procurement strategies   ⚡Innovative hedging models   🎢 Active market tracking   📈 Automated invoice tracking   💡AI-enabled decision making & anomaly detection ecoplanet is dedicated to making its customers leaders in the energy transition, and the launch of ecoplanet Procurement Plus is a crucial step toward this goal. Congratulations to Maximilian Dekorsy, Dr. Henry Keppler, Javier Silva Ortiz, and the entire ecoplanet team! Want to join their team? Check out the open positions linked in the comments below. cc Felix Klühr Frederic Martin

The news is out: EQT Future and Kühne Holding acquire a 35% stake in HV portfolio Flix! HV Capital has a long history of backing entrepreneurs to build market-leading digital companies – through all stages of growth. Over 13 years ago, HV met the Flix founders before the first bus was on the streets of Germany. Just a few weeks later Flix became part of the HV portfolio. Over time HV Capital has continued to invest in multiple financing rounds, helping Flix acquire competitors, consolidate the market and grow internationally. Until today HV was the second largest shareholder in Flix. Flix and HV have shared many milestones together. We’d like to congratulate André Schwämmlein, Jochen Engert, Daniel Krauss, and the entire Flix team. This is a tremendously positive signal and we’re looking forward to many more in the future. The new capital will be used to   🚀 Drive profitable growth: In 2023 the company reported EUR 2bn in annual total revenue – over 30% YoY growth. At the same time the company generated over EUR 100m in EBITDA. 🌍 Expanding the global footprint: Flix now offers services in 43 countries worldwide and is looking to expand further as they aim to reach market leadership. 🇺🇸 Advancing the North America Business: Flix launched in the US in 2018, acquired Greyhound in 2021 and will continue to grow its asset-light share in the market. 🌱 With growth comes responsibility: Flix continues to commit to ESG and has launched its second voluntary ESG report. Flix is also well-aligned with EQT Future's mission to support companies that improve the planet. You can read more about the new investment in the linked press release in the comments below. Cc David Kuczek, Christoph Jung, André Schwämmlein, Jochen Engert, Daniel Krauss, Andreas Aschenbrenner, Dominik de Daniel, Karl Gernandt

Are you curious to know what ESG in VC looks like? Then apply now for our ESG internship opening in Berlin, starting this fall!     Why should you apply?  👉 You’ll get to work with Marie who spearheads ESG at HV  👉 You’ll learn what it means to “do ESG” all levels of a company’s maturity stage and learn from HV Portfolio Trailblazers. Download HV’s ESG Guide for Startups to learn more: https://lnkd.in/dC_wqBJM  👉You’ll be part of shaping ESG at a multistage VC. See more about what we do as a firm in HV’s 2023 Annual ESG report here: https://lnkd.in/dD9tbwss 🌈 At HV, we believe diversity drives innovation and are committed to creating an inclusive environment. Whether you're a career changer, a recent graduate, or simply passionate about investments and startups, we encourage you to apply! Excited? Then apply now: https://lnkd.in/d4WSsz5y    We cannot wait to meet you!

HV Portfolio company Isar Aerospace has extended its Series C funding round to over 220m Euros with strong commitment from NATO Innovation Fund (NIF).     The fresh capital is a strong sign of confidence in Isar Aerospace’s approach, and it underlines the fundamental role that space technologies play in our economies and societies. Isar Aerospace will build-up a new 40.000m2 series production facility, highly-based on automation technology, to industrialize the production of launch vehicles for serving the increasing demand for flexible and cost-efficient access to space. Isar Aerospace joined HV’s Portfolio in 2020 and we’re delighted to share this milestone achievement. Big congratulations go out to Daniel Metzler, Josef Fleischmann, and Markus Brandl, and the entire Isar Aerospace team!    Read more via the press release linked in the comments below. Cc: Fabian Gruner

🇳🇱Meet Barbod this week at TNW Conference in Amsterdam! Barbod will join Kaushalya Somasundaram (FinTech Growth Fund) and Sandeep B. (Prosus Ventures) on the ‘Venture Capital: Keeping the Faith in FinTech’ panel, moderated by Murad Ahmed (Financial Times). Together, they will explore the top trends shaping fintech, such as AI, tokenization, and the development of digital payments, share insights on what to expect when expanding globally, and more. 📍TNW Finance Disrupted 🗓️Friday, June 21 from 15:10 - 15.50 #TNW2024 #TNWConference