Deal Flow Analysis 2017: More diverse teams with tech background from urban areas

Capnamic Ventures
Apr 26, 2018 · 2 min read

Capnamic Ventures publishes Venture Capital Deal Flow Analysis 2017

  • Number of startups with demand for venture capital continues to rise
  • Further urbanization of the startup scene
  • More founders with technical education
  • Increasing share of female founders

Berlin/Cologne — 26/04/2018: Capnamic Ventures, the early-stage tech venture capitalist based in Berlin and Cologne, publishes the ‘Deal Flow Analysis 2017’. Capnamic Ventures’ investment focus is on technology startups in German-speaking countries (Germany, Austria, Switzerland).

The Capnamic Ventures team has been monitoring the startup ecosystem for 20 years now and has been conducting a detailed analysis of its own deal flow (investment requests from startups) for 5 years and publishing the results.

In 2017, the number of investment enquiries from startups increased significantly by 20% compared to the previous year. There are also three significant trends:

Urbanization of the startup scene
What is internationally known as the “Urbanization of Tech” can slowlyis now starting to be observed in Germany as well. More and more start-ups are settling in urban regions. Nevertheless, Germany’s startup ecosystem continues to be characterised by the fact that there areits many regional clusters. Only about 50% of all start-ups come from the five largest German cities (Berlin, Hamburg, Munich, Cologne, Frankfurt a.M.), while the other half of the deal flow is spread across Germany.

More startup teams with technical training
The founding teams have become increasingly technical in recent years. In 2017, every second founder already had a university education in the so-called MINT subjects (mathematics, computer science, natural sciences, technology). As a result, startups solve increasingly complex problems with innovative solutions whose development requires a deep understanding of technology. Purely business school startups, on the other hand, are declining.

More female founders
In Germany, this is still a male domain. 87% of the deal flow in 2017 comes from startups with exclusively male founders. Nevertheless, the number of founding teams with at least one woman increased by more than 60% last year. Founder teams are therefore becoming increasingly diverse.


About Capnamic Ventures
Capnamic Ventures ( is one of Europe’s leading early-stage Venture Capital firms, with offices in Berlin and Cologne. The VC invests most of its funds in tech startups in the German-speaking region. Capnamic also joins forces with international co-investors. All portfolio companies are supported through Capnamic’s global network of investors and industry partners. The vast expertise of the Capnamic team includes more than 70 investments, a high turnover of successful trade sales and IPOs, as well as a strong entrepreneurial track record within the investment team. The general partners are Christian Siegele, Jörg Binnenbrücker and Olaf Jacobi.

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Sebastian Schüller
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Capnamic Ventures

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Capnamic Ventures

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