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VC FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 8 SOURCES

468 Capital

Also known as 468 Management GmbH, 468 Capital GmbH & Co. KG, 468 Capital II GmbH & Co. KG

Berlin early-stage VC (468 Management GmbH, registered AIFM under § 2(4) KAGB) founded in 2020; funds invest in angel to Series A/B rounds, focus on emerging technologies.

HEADQUARTERS
Berlin, Germany
FOUNDED
2020
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
5 people

FOCUS

STAGES
Pre-SeedSeedSeries ASeries B
SECTORS
Artificial IntelligenceSoftware & SaaSDeep Tech
ASSET MIX
Venture capital
GEOGRAPHY
Europe

WHAT IT IS

VC Fund. A fund manager investing capital raised from limited partners into startups.

ABOUT

468 Capital is a Berlin venture capital firm launched in 2020 by former Rocket Internet executives Alexander Kudlich and Ludwig Ensthaler together with Mesosphere founder Florian Leibert; its first fund was reported at €170 million. The management company, 468 Management GmbH, is a registered alternative investment fund manager under section 2(4) KAGB and manages 468 Capital GmbH & Co. KG and 468 Capital II GmbH & Co. KG. Per its SFDR disclosure, the funds invest mainly in seed-stage companies (angel, seed, Series A and occasionally Series B), with a focus on emerging technologies but also innovative 'old economy' businesses.

INVESTMENT THESIS

Builds a portfolio of equity and equity-related venture investments mainly in the seed stage, across sectors with innovation capacity and growth potential, focusing on emerging technologies (machine learning, open source, automation) and also dynamic, innovative 'old economy' companies; holds mainly minority stakes.

PORTFOLIO (3)

  • Kombo
    Software & SaaS
  • Novus
    Mobility & Logistics · since 2024
  • Acto
    Software & SaaS · since 2024

TEAM

  • Dr. Ludwig Ensthaler
    Co-founder; Managing Director, 468 Management GmbH · source
  • Emanuel Pallua
    Managing Director, 468 Management GmbH · source
  • Tobias Neveling
    Managing Director, 468 Management GmbH · source
  • Alexander Kudlich
    Co-founder · source
  • Florian Leibert
    Co-founder · source

LINKS

FAQ

468 Capital is a VC fund based in Berlin, Germany, founded in 2020.

Yes. 468 Capital invests directly in private companies.

468 Capital invests at Pre-Seed, Seed, Series A and Series B stages in Artificial Intelligence, Software & SaaS and Deep Tech.

468 Capital's stated ticket size is Up to €2M.

Key people at 468 Capital include Dr. Ludwig Ensthaler (Co-founder; Managing Director, 468 Management GmbH), Emanuel Pallua (Managing Director, 468 Management GmbH), Tobias Neveling (Managing Director, 468 Management GmbH) and Alexander Kudlich (Co-founder).

468 Capital's investments include Kombo, Novus and Acto.

The most recent publicly reported investment by 468 Capital is Kombo (USD 25m round (participation as existing investor)), announced in Feb 2026.

Yes. 468 Capital manages capital from outside investors.