coparion

What they fund

• Asset Class — Coparion is a dedicated Venture Capital fund focused on young German technology companies [1].
• Stage Focus — The fund targets the start-up and early growth phases, specifically prioritizing companies that have demonstrated initial success such as revenues, key customers, or successful product launches [1].
• Geographic Scope — Investments are exclusively limited to companies with their operational headquarters in Germany, based on the belief that support and added value are best delivered over short distances [1].
• Sector Scope — The fund is industry-open across all technology sectors, with the specific exclusion of activities defined as "EIB excluded activities" by the European Investment Bank [1].
• Investment Size — Coparion invests up to €15 million per company, typically distributed across multiple financing rounds ranging from €0.5 million to €8 million each [1].
• Co-Investment Requirement — The fund invests exclusively alongside private investors who participate in the same round with equal volume and economically identical conditions ("pari passu") [1].

Investment thesis

Coparion exists to provide growth capital to young, German technology companies that have demonstrated early traction and possess high-growth potential, acting as a steady, long-term partner without interfering in daily operations [1][2].

• Capital for scaling: Provides up to €15 million per company across multiple rounds to accelerate growth and prepare for exits [1][2].
• Co-investment model: Invests exclusively alongside private investors on equal terms (pari passu), requiring co-investors to match Coparion's volume and economic conditions [1].
• Sector-agnostic mandate: Targets all technology sectors (software, hardware, fintech, healthtech, cleantech) except those excluded by the EIB, focusing on innovative products and strong teams [1][3].
• Long-term value creation: Prioritizes sustainable growth and value increase over short-term opportunism, leveraging a network for strategic support rather than operational control [1][2].

Credibility: Fund size of €275 million, backed by ERP Special Fund, KfW Capital, and the European Investment Bank, with a portfolio of 59 companies including 2 unicorns and 2 IPOs [1][4][2].

Value add

• Network access: Introductions to national and international investors, potential partners, and customers [1].
• Strategic support: Advice on team building, personal structure, and exit preparation without daily operational involvement [1].
• Credibility: Backing by ERP Special Fund, KfW, and EIB signals quality and stability to other investors [1][2].
• Fit verdict: Ideal for German tech startups with revenue/customers seeking growth capital and a steady, non-interfering partner.
• Founder diligence script:

1. Have I secured private co-investors willing to match Coparion's volume and terms? 2. Is my company headquartered in Germany with a scalable tech product? 3. Do I have early traction (revenue, key customers, or product launch)? 4. Am I prepared for a long-term partnership focused on value creation, not quick exits? 5. Can I demonstrate an execution-strong team with a shared vision?

Portfolio focus

• Hardware/HighTech: Companies like 3YOURMIND (industrial 3D printing software) and Tubulis Technologies (antibody-drug conjugates) [1][4].
• IT/Software/Media: Holidu (vacation rental meta-search), Zeotap (customer data platform), FastBill (invoicing software) [4].
• Fintech/Crypto: Bitwala (crypto financial services) and Clark (insurance tech) [6][2].
• Healthtech/Life Sciences: Abalos (cancer therapy), Cepres (medical devices) [1][7].
• Cleantech/Climate: Plan A (carbon accounting software) and 4Tree Capital (climate tech) [4][5].

Notable investments & exits

• Portfolio Companies — Unknown — not covered in the available sources.