backtrace
Also known as backtrace capital, Backtrace Capital, backtrace GmbH, backtrace Fund I
Munich pre-seed/seed VC investing in technology infrastructure (AI infrastructure, developer tools, security); Fund I closed at EUR 50m.
Munich pre-seed/seed VC (backtrace.vc). Not the software company Backtrace I/O (crash reporting, acquired by Sauce Labs).
- HEADQUARTERS
- München, Germany
- FOUNDED
- —
- AUM
- €50M (2026)
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 2 people
FOCUS
- STAGES
- Pre-SeedSeed
- ASSET MIX
- Venture capital
- GEOGRAPHY
- Europe
WHAT IT IS
VC Fund. A fund manager investing capital raised from limited partners into startups.
ABOUT
backtrace is a Munich venture capital firm (backtrace GmbH) founded by Dr. Michael Münnix and Dominik Tobschall, former partners at Target Partners and Speedinvest. It runs a pre-seed/seed fund for 'the technology building blocks that our world runs on': AI infrastructure, developer tools and security. The fund launched in October 2024 with EUR 10m and a EUR 30m target and reached a EUR 50m final close in March 2026. Its disclosed portfolio is Platform Engineering Labs, KERYS Software and Commutator Studios, plus five companies in stealth.
INVESTMENT THESIS
Invests in 'picks and shovels' technology infrastructure that works in the background (AI infrastructure, developer tools, security); Fund I targets software, hardware and infrastructure companies; aims to help European startups address the US market from the start; pre-seed cheques of EUR 750k to 1m and seed cheques above EUR 1m, 20 to 25 companies per fund.
PORTFOLIO (3)
- Software & SaaS
- Software & SaaS
- Deep Tech · since 2025
TEAM
LINKS
FAQ
backtrace is a VC fund based in München, Germany.
Yes. backtrace invests directly in private companies.
backtrace invests at Pre-Seed and Seed stages in Software & SaaS, Artificial Intelligence and Deep Tech.
backtrace's stated ticket size is €750K–€1M.
Key people at backtrace include Dr. Michael Münnix (Managing Director) and Dominik Tobschall (Managing Director).
backtrace's investments include Platform Engineering Labs, KERYS Software and Commutator Studios.
The most recent publicly reported investment by backtrace is Commutator Studios (EUR 1.5m round, co-led with Preston-Werner Ventures), announced in Jul 2025.
Yes. backtrace manages capital from outside investors.