CommerzVentures

CommerzVentures is run by four managing partners, Patrick Meisberger, Stefan Tirtey, Heiko Schwender and Paul Morgenthaler, and the firm states the same team has closely managed all three funds. Judith Vogel is principal. The wider bench is built for a bank-backed sector specialist rather than a generalist seed shop: Linh Richter heads compliance, Christoph Hartmann is accounting director, Sunil Kappagoda and Ricky Knox are operating partners, and Christopher Lohmann and Christian Deger serve as venture partners. That structure matters because Commerzbank is the only limited partner across all three vehicles, so the team answers to a single institutional backer while being able to offer portfolio companies a direct route into a large European bank's procurement and distribution. Fund III came with a stated plan to grow headcount by 50 percent to support new geographies.

CommerzVentures has raised three funds and Commerzbank is the sole limited partner in all of them. Fund I launched in 2014 at 100 million euros, Fund II followed in 2019 at 150 million euros, and the firm closed a 300 million euro Fund III on 1 March 2022, bringing total capital managed to 550 million euros. Fund III widened the mandate from fintech and insurtech into climate fintech, a category the firm claims to have defined in early 2020, and funded expansion into Africa following its participation in MFS Africa's $100 million Series C. At the Fund III close CommerzVentures reported 28 investments to date, with roughly 30 percent of first-fund companies reaching unicorn status, including Bought By Many and Mambu, and two decacorns in eToro and Marqeta. Marqeta listed on Nasdaq, PayPal acquired Curv and Visa acquired Payworks. The firm invests from Series A onward across Europe, Israel and the United States.