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VC FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 7 SOURCES

HEARTFELT

Also known as Heartfelt, Heartfelt Capital Management GmbH, Heartfelt APX GmbH & Co. KG, Heartfelt European Fund I, heartfelt.capital

Berlin 'first cheque' VC (Heartfelt Capital Management GmbH) investing EUR 100–400k in pre-seed start-ups; successor of APX, anchored by Axel Springer and Porsche.

Successor of APX (Axel Springer Porsche GmbH & Co. KG), whose legacy portfolio it manages; not related to Heartcore Capital (Copenhagen).

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

Focus

STAGES
Pre-SeedSeed
SECTORS
Software & SaaSFintechConsumer & E-commerceArtificial IntelligenceHealthTechClimate & EnergyIndustrial & Manufacturing
ASSET MIX
Venture capital
GEOGRAPHY
EuropeNorth America

Investment arms & vehicles

Overview

HEARTFELT describes itself as Europe's first cheque fund, backing founders in Europe and the US from 0 to 1 with initial tickets of EUR 100–400k, solo or alongside other early backers, plus follow-ons. It is run by Heartfelt Capital Management GmbH in Berlin, a BaFin-supervised manager, and its fund Heartfelt APX GmbH & Co. KG is offered to semi-professional investors. The team previously ran APX, the Axel Springer–Porsche early-stage programme, and Axel Springer and Porsche are anchor investors of the new fund. Its portfolio page lists 159 companies across the HEARTFELT and legacy APX vehicles.

Investment thesis

First investor in exceptional founders building transformative companies across Europe and the US, helping them from 0 to 1 and to product–market fit; initial EUR 100–400k, follow-ons in later rounds; fund focus on pre-seed and seed (incl. late seed).

PORTFOLIO (159)

People

  • Dr. Henric Hungerhoff
    Managing Director, Heartfelt Capital Management GmbH · source
  • Jörg Rheinboldt
    Managing Director, Heartfelt Capital Management GmbH · source

Links

Frequently asked questions

HEARTFELT is a VC fund based in Berlin, Germany.

Yes. HEARTFELT invests its own capital in private companies.

HEARTFELT invests at Pre-Seed and Seed stages in Software & SaaS, Fintech, Consumer & E-commerce, Artificial Intelligence, HealthTech, Climate & Energy and Industrial & Manufacturing.

HEARTFELT's stated ticket size is €100K–€400K.

Key people at HEARTFELT include Dr. Henric Hungerhoff (Managing Director, Heartfelt Capital Management GmbH) and Jörg Rheinboldt (Managing Director, Heartfelt Capital Management GmbH).

HEARTFELT's investments include Colossyan, Greenlyte, Inheritance, Qualifyze, Zelara, Absora, Aide Health and Along, among others.

The most recent publicly reported investment by HEARTFELT is Zelara (EUR 3m round with NAP and Angel Invest), announced in Jun 2026.

HEARTFELT states that it accepts submissions through its official contact page.

Yes. HEARTFELT manages capital from outside investors.