Guide · Berlin
Venture capital in Berlin
A hands-on guide for founders raising capital from angel investors and VC funds in Berlin — from the perspective of Mauerkatze, the investment vehicle of Finn Hänsel (Sanity Group exit, Movinga).
Venture capital in Berlin — the overview
Alongside London and Paris, Berlin is Europe's most important VC ecosystem. The city combines a dense network of early-stage investors, family offices, corporate ventures and internationally active funds. Anyone seeking capital should understand which investor types are relevant for which stage and how a professional pitch in Berlin actually works.
Which investors are active in Berlin
Pre-Seed to Seed: angel investors (often founders themselves with exit experience), specialised pre-seed funds and accelerators. Series A & B: classic Berlin VCs and international funds with an office in Berlin. Growth stage: growth funds, private-equity-backed vehicles and strategic corporate investors. As Finn Hänsel's angel and early-stage vehicle, Mauerkatze is part of this ecosystem — investing directly as well as an LP in specialised funds.
How a pitch works in Berlin
Most Berlin VCs expect a 10–15 slide pitch deck with a clear problem/solution, market size, traction, team and funding ask. First contact almost always runs through a warm introduction — cold emails have a much lower hit rate. Founders without direct access can get in via startup events (e.g. Bits & Pretzels Berlin Edition, Berlin Demo Days), founder communities or operator angels.
Valuation and term sheet — what to watch
Typical pre-money valuations in Berlin are 2–6M EUR at pre-seed and 8–20M EUR at seed. Pay attention to liquidation preference (standard: 1x non-participating), anti-dilution (broad-based weighted average), vesting (4 years with a 1-year cliff for founders) and option pool size (10–15% post-round). Always have term sheets reviewed by a law firm experienced with VC deals.
Common fundraising mistakes
Approaching too many investors in parallel too early without a structured process. Unrealistic pre-seed valuations. A cap table with too many small holders that blocks later rounds. No clear use of funds. A missing founder-market-fit story. Addressing these points upfront materially increases the odds of a concrete term sheet.
Frequently asked questions
- How do I find the right VC in Berlin?
- Filter by stage (pre-seed/seed/Series A), sector focus (SaaS, HealthTech, ClimateTech etc.) and ticket size — Berlin VCs usually communicate this openly on their websites. A warm intro via other founders or operator angels almost always beats a cold outreach.
- What is a typical Berlin angel ticket?
- Individual angels in Berlin typically invest between 25,000 and 150,000 EUR. Operator angels with exit experience, like Mauerkatze, can also provide larger tickets or structured co-investments.
- Do I need a GmbH or is a UG enough?
- For institutional VC rounds a GmbH is the standard. A UG works for a first angel round but is typically converted into a GmbH by Series A at the latest.
Talk to Mauerkatze
Building a startup in Berlin that fits our investment profile (pre-seed to seed, tech business model)? Send us a short description and your deck.