MAKE-Familienstiftung

What they fund

The foundation funds high-growth software companies, particularly in the AI and automation sectors, with a focus on products that drive significant productivity gains. Given its investment in Make, the foundation likely supports companies that are building essential tools for the modern digital economy, with an emphasis on scalability and market leadership.

• AI and automation platforms — Companies that develop software to streamline business processes, reduce manual effort, and enhance operational efficiency through intelligent automation.
• Productivity software — Tools that empower users to achieve more with less time and resources, often through no-code or low-code interfaces that make complex workflows accessible.

Investment thesis

MAKE-Familienstiftung is a German family foundation that has invested in Make, a leading AI workflow automation platform. The foundation's investment thesis centers on backing transformative software companies that enhance productivity through AI and automation. By focusing on a single, high-conviction investment in a category-defining platform, the foundation leverages its capital to support the scaling of innovative technology that solves critical business challenges. This approach suggests a strategy of deep, long-term engagement with portfolio companies that are redefining their respective markets through technological advancement.

• Deep conviction in category leaders — The foundation has concentrated its capital in Make, a platform that has become a standard for workflow automation, indicating a preference for market-dominant or rapidly emerging leaders over a diversified early-stage portfolio.
• Focus on productivity-enhancing software — The investment in an automation platform highlights a strategic interest in software that directly improves operational efficiency and reduces manual workloads for businesses.
• Long-term value creation — As a family foundation, the investment likely aims for sustained growth and impact, aligning with the foundation's broader mission of supporting innovation in the German tech ecosystem.

Value add

The foundation likely provides strategic guidance and long-term capital, leveraging its experience with a successful technology investment to support portfolio companies. It may also facilitate connections within the German tech ecosystem, offering access to industry experts and potential partners.

Fit verdict: The foundation is an ideal partner for founders building scalable, productivity-focused software who value long-term alignment and strategic depth over rapid, short-term exits.

Founder diligence script:

• What is your long-term vision for the company, and how does the foundation's mission align with it?
• How do you plan to support the company's growth beyond capital, such as through strategic introductions or operational guidance?
• What is your expected timeline for an exit, and how does that align with our growth plans?
• How do you measure success for your investments, and what metrics do you track closely?
• Can you share examples of how you have helped previous portfolio companies navigate significant growth challenges?

Portfolio focus

The portfolio is concentrated in the AI and automation space, with a primary investment in Make, a platform that enables users to automate workflows without coding. This focus suggests a strategic bet on the infrastructure layer of the AI economy, specifically tools that democratize access to automation technologies for businesses of all sizes.

• Make — A leading workflow automation platform that allows users to connect apps and automate processes, recognized as a key player in the no-code/low-code automation sector.

Notable investments & exits

The foundation's investment in Make has not yet resulted in a public exit, as the company remains privately held and is considered a category leader in the automation space.

• Make — A leading workflow automation platform that has achieved significant market traction and is recognized as a key player in the no-code/low-code sector.

Strategic implications

The foundation's concentrated investment in a single, high-growth software company suggests a strategy of deep conviction and long-term engagement, rather than diversification. This approach allows for significant influence and support for portfolio companies, aligning with the foundation's mission-driven investment philosophy.

The focus on AI and automation indicates a strategic bet on the infrastructure layer of the digital economy, specifically tools that democratize access to productivity-enhancing technologies. This positioning could yield substantial returns if the foundation continues to back category leaders in these sectors.

The foundation's structure as a family office provides patient capital, enabling it to support portfolio companies through multiple growth stages without the pressure of short-term fund returns. This long-term horizon is a significant advantage for founders building scalable, mission-driven software companies.

Where they could go further

The foundation could consider diversifying its portfolio across multiple stages or sectors within the AI and automation space to mitigate concentration risk while maintaining its strategic focus.

Establishing a formalized process for co-investment with other strategic partners could enhance the foundation's ability to support portfolio companies with additional capital and expertise.

Developing a more structured approach to measuring and communicating the impact of its investments could strengthen the foundation's reputation and attract like-minded partners and stakeholders.