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VC FundPuts its own capital into companiesLAST VERIFIED Oct 2026 · 6 SOURCES

BitStone Capital

Also known as BitStone Capital Management GmbH, Bitstone Capital

Cologne VC investing in real-estate and construction technology startups through two BitStone Capital funds; successor fund generation branded Realyze Ventures.

Cologne proptech/contech VC (bitstone.capital). Its new fund generation is branded Realyze Ventures, launched with the MOMENI Ventures partners.

HEADQUARTERS
Köln, Germany
FOUNDED
—
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
9 people

Focus

STAGES
SeedSeries A
SECTORS
Real Estate & PropTechClimate & EnergySoftware & SaaSIndustrial & Manufacturing
ASSET MIX
Venture capital
GEOGRAPHY
Europe

Investment arms & vehicles

  • Realyze Ventures
    New fund generation after two BitStone Capital funds; first close of about EUR 50m in June 2025, GPs Tim Fischer, Manfred Heid, Stefan Läufer, David Nadge and Kai Panitzki

Overview

BitStone Capital is a Cologne venture capital investor (BitStone Capital Management GmbH) focused on innovative and sustainable technology companies in construction and real estate. It invests across five verticals: Plan & Build, Manage & Operate, Finance & Transact, New City Solutions and Climate Solutions. Its investors and partners include real-estate and construction companies such as Art-Invest, Goldbeck and Zech. After two funds under the BitStone name, its managers launched the successor fund generation Realyze Ventures, which held a first close of about EUR 50m in June 2025.

Investment thesis

Backs real-estate and construction-tech startups that contribute to a sustainable transformation of the building and property industry, adding industry network, know-how and access; verticals Plan & Build, Manage & Operate, Finance & Transact, New City Solutions and Climate Solutions.

PORTFOLIO (20)

People

  • Kai Panitzki
    Managing Partner; Managing Director (Impressum) · source
  • Manfred Heid
    Managing Partner (founding partner); Managing Director (Impressum) · source
  • Marc Stilke
    Venture Partner · source
  • Thomas Knaack
    Venture Partner · source
  • Michael Kokorniak
    Venture Partner · source
  • Akin Özdemir
    Director Finance, Prokurist · source
  • Marnix Roes
    Investment Manager (Realyze Ventures) · source
  • Matthias Lederbogen
    Investment Associate · source
  • Jan Reemen
    Investment Associate · source

Links

Frequently asked questions

BitStone Capital is a VC fund based in Köln, Germany.

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

BitStone Capital invests at Seed and Series A stages in Real Estate & PropTech, Climate & Energy, Software & SaaS and Industrial & Manufacturing.

Key people at BitStone Capital include Kai Panitzki (Managing Partner; Managing Director (Impressum)), Manfred Heid (Managing Partner (founding partner); Managing Director (Impressum)), Marc Stilke (Venture Partner) and Thomas Knaack (Venture Partner).

BitStone Capital's investments include OKIBO, alcemy, Optiml, Lichtwart, Plancraft, node.energy, Green Fusion and smino, among others.

The most recent publicly reported investment by BitStone Capital is alcemy (USD 10m round led by Norrsken VC (BitStone participating)), announced in Jul 2024.

Yes. BitStone Capital manages capital from outside investors.