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Government-backed FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 14 SOURCES

NBank Capital

100% subsidiary of NBank – Investitions- und Förderbank Niedersachsen

Also known as NBank Capital Beteiligungsgesellschaft mbH, NBank Capital GmbH, NCapital

Hannover-based equity arm (100%) of Lower Saxony's development bank NBank; open and silent participations in Lower Saxony start-ups and SMEs, about 80 portfolio companies.

Equity subsidiary of NBank (Investitions- und Förderbank Niedersachsen), Hannover; not to be confused with NRW.BANK or with N-Bank-branded entities outside Lower Saxony.

HEADQUARTERS
Hannover, Germany
FOUNDED
—
AUM
—
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
15 people

Focus

STAGES
SeedSeries AGrowthBuyout
SECTORS
Industrial & ManufacturingSoftware & SaaSHealthTechBiotech & Life SciencesClimate & EnergyConsumer & E-commerceMobility & LogisticsArtificial Intelligence
ASSET MIX
Direct investmentsVenture capital
GEOGRAPHY
Germany

Overview

NBank Capital Beteiligungsgesellschaft mbH is a wholly owned subsidiary of NBank, the Investitions- und Förderbank of the Land Niedersachsen, and is based in Hannover. It provides open and silent participations to start-ups and small and medium-sized companies in Lower Saxony, from seed financing (NSeed) to growth, MBO/MBI and succession financing (NBeteiligung, NMittelstand, NTransformation Kfz-Zulieferer), with no sector focus. Its programmes deploy funds of the Land Niedersachsen and the European Regional Development Fund (EFRE). In September 2025 it described its portfolio as about 80 companies.

Investment thesis

Equity and quasi-equity for companies in Lower Saxony: seed capital for start-ups up to about five years old with innovative products (NSeed), open or silent growth participations for SMEs with 7–10 year terms (NBeteiligung), and participations of up to €5m for Mittelstand companies and automotive suppliers in transformation (NMittelstand, NTransformation); no sector focus.

PORTFOLIO (61)

  • 4PL Intermodal GmbH
    since 2018
  • Abacus Maschinenbau GmbH
    since 2017
  • ALL ABOUT MIDLIFE GMBH
    since 2026
  • angeln-in UG (Haftungsbeschränkt)
    since 2021
  • Angiolutions GmbH
    since 2020
  • ArgillaTherm GmbH
    since 2017
  • B&S Media GmbH alias cruisewatch.com
    since 2019
  • Biomethan Soltau GmbH
    since 2019
  • BlockAxs
    since 2021 · Exited (2024)
  • Buses4Future GmbH
    since 2021
  • Corat Therapeutics GmbH
    since 2020
  • EEO Tech GmbH
    since 2021
  • Emma GmbH
    since 2021
  • ERASON GmbH
    since 2021
  • exabotix finance GmbH
    since 2018
  • FiSens GmbH
    since 2018
  • FLEXBIO Technologie GmbH
    since 2019
  • Flexxter GmbH
    since 2020
  • G-Metrics GmbH
    since 2019
  • Goodright GmbH
    since 2022
  • HANOMAG Aluminium Solution GmbH
    since 2021
  • HepaNet GmbH
    since 2019
  • Herodikos GmbH
    since 2025
  • HeyDo Apps GmbH
    since 2019 · Exited (2026)
  • heyParents
    since 2025
  • HINAMIC GmbH
    since 2021
  • Horando Deutschland GmbH
    since 2019
  • IDENTYTEC GmbH & Co.KG
    since 2019
  • J. Schwarzer GmbH & Co. Service KG
    since 2016
  • Lambus GmbH
    since 2022 · Exited (2025)
  • LBR Manufacturing GmbH
    since 2025
  • Lilian Labs GmbH
    since 2017
  • Linder GmbH
    since 2018
  • Lomalab Technologies GmbH
    since 2022
  • mediaTest digital GmbH
    since 2016
  • NautilusLog GmbH
    since 2020
  • NEXSD AUTOMOTIVE INNOVATIONS GmbH
    since 2023
  • nya nordiska innovation GmbH
    since 2019
  • Pan Acoustics GmbH
    since 2019 · Exited (2024)
  • Phaeosynt GmbH
    since 2025
  • Picum MT GmbH
    since 2021
  • PlantBase GmbH
    since 2020 · Exited (2022)
  • Proflexis GmbH
    since 2021
  • reamotion GmbH
    since 2019
  • Reha Klinik Sonnenhof Bad Iburg GmbH & Co. KG
    since 2021
  • Robot Food Technologies Germany GmbH
    since 2016
  • Sascotec Horsepower GmbH
    since 2024
  • Showerplus Entwicklungs- und Vertriebsgesellschaft mbH
    since 2021
  • SKYSEED GmbH
    since 2025
  • smapOne AG
    since 2016 · Exited (2021)
  • SugarShape GmbH
    since 2017
  • Sustainable Manufacturing GmbH (Recozy)
    since 2023
  • VANEVO GmbH
    since 2020
  • verlingo GmbH
    since 2019 · Exited (2022)
  • VisioLab GmbH
    since 2021
  • Bioweg
    Biotech & Life Sciences · since 2025
  • Allogenetics GmbH
    Biotech & Life Sciences · since 2024
  • Fehrmann MaterialsX GmbH
    Artificial Intelligence · since 2026
  • Digity GmbH
    since 2024
  • Seedforward GmbH
    since 2024
  • Pacta AI
    Software & SaaS · Acquired by DiliTrust (2025)

People

  • Christoph Siegfried
    Managing Director (Geschäftsführer) · source
  • Simon Köhler
    Managing Director (Geschäftsführer) · source
  • Ralf Borchers
    Managing Director (Geschäftsführer) · source
  • Volker Ebeling
    Investment Manager (Beteiligungsmanager) · source
  • Susanne Hauck
    Investment Manager and Mikromezzaninfonds (Beteiligungsmanagerin) · source
  • Stefan Lenz
    Investment Manager (Beteiligungsmanager) · source
  • Ulrich Lohmann
    Investment Manager (Beteiligungsmanager) · source
  • Marc Löffler
    Investment Manager (Beteiligungsmanager) · source
  • Jan Mackie
    Investment Services (Beteiligungsservice) · source
  • Alina Meyer-Warnecke
    Investment Manager (Beteiligungsmanagerin) · source
  • Thomas Müller
    Investment Manager (Beteiligungsmanager) · source
  • Isabel Sievers
    Investment Manager (Beteiligungsmanagerin) · source
  • Viktoria Vorwachs
    Investment Manager (Beteiligungsmanagerin) · source
  • Sina Jüttner-Sindermann
    Investment Manager (Beteiligungsmanagerin) · source
  • Oliver Hacker
    Investment Manager (Beteiligungsmanager) · source

Links

Frequently asked questions

NBank Capital is a government-backed fund based in Hannover, Germany.

Yes. NBank Capital invests its own capital in private companies.

NBank Capital invests at Seed, Series A, Growth and Buyout stages in Industrial & Manufacturing, Software & SaaS, HealthTech, Biotech & Life Sciences, Climate & Energy, Consumer & E-commerce, Mobility & Logistics and Artificial Intelligence.

NBank Capital's stated ticket size is Up to €5M.

Key people at NBank Capital include Christoph Siegfried (Managing Director (Geschäftsführer)), Simon Köhler (Managing Director (Geschäftsführer)), Ralf Borchers (Managing Director (Geschäftsführer)) and Volker Ebeling (Investment Manager (Beteiligungsmanager)).

NBank Capital's investments include 4PL Intermodal GmbH, Abacus Maschinenbau GmbH, ALL ABOUT MIDLIFE GMBH, angeln-in UG (Haftungsbeschränkt), Angiolutions GmbH, ArgillaTherm GmbH, B&S Media GmbH alias cruisewatch.com and Biomethan Soltau GmbH, among others.

The most recent publicly reported investment by NBank Capital is Allogenetics GmbH (Pre-Series A), announced in Sep 2026.

NBank Capital states that it accepts submissions through its official contact page.

No. NBank Capital invests its own capital and does not raise money from outside investors.