468 Capital
Venture capital firm; participated in Twentyfour Industries' $11.8M seed round (summer 2025) — its first European defense-tech investment.
468 Capital is a Berlin-based technology investment firm (with a second office in San Francisco) backing entrepreneurs with global ambitions from pre-seed/day-0 through Series A/B, across AI/ML, SaaS, devtools, enterprise, deep tech/hardware, quantum computing, and space tech. It is a generalist deep-tech investor rather than a defense specialist — Twentyfour Industries (summer 2025) marked its first European defense-tech investment specifically.
Overview
- Firm
- 468 Capital
- Headquarters
- Berlin, Germany
- Founded
- 2020
- AUM
- Not consistently disclosed as a single figure — a $400M Fund II was reported in January 2022; a third-party aggregator estimate puts cumulative AUM at $1B+ (2023), not independently confirmed by the firm
- Stages
- Pre-Seed, Seed, Series A, Series B
- Thesis
- Provide strategic and financial support to entrepreneurs looking to grow their businesses internationally, backing category-defining businesses that bridge the innovation gap between Europe and the US.
- X / Twitter
- x.com/468capital
- Website
- 468cap.com
Portfolio companies1
Partners5
- Founderalexander-kudlichAlexander Kudlich is a Co-Founder and General Partner of 468 Capital, the Berlin- and San Francisco-based venture capital firm he co-founded in 2020 with Ludwig Ensthaler and Florian Leibert after nearly a decade on Rocket Internet's management board; he also serves on the supervisory boards of tonies SE and Marley Spoon Group SE.
- Founderludwig-ensthalerLudwig Ensthaler is a Co-Founder and General Partner of 468 Capital, the Berlin- and San Francisco-based venture capital firm he co-founded in 2020 with Alexander Kudlich and Florian Leibert after building out Rocket Internet's Global Founders Capital venture arm; he focuses on AI, software, and large-scale digital-platform investments.
- Founderflorian-leibertFlorian Leibert is a Co-Founder and General Partner of 468 Capital, the Berlin- and San Francisco-based venture capital firm he co-founded in 2020 with Alexander Kudlich and Ludwig Ensthaler; he previously co-founded Mesosphere (later D2iQ) in 2013 with Tobias Knaup and Benjamin Hindman and served as its CEO for roughly six years, after earlier engineering roles at Twitter and Airbnb where he helped create the Mesos-based Chronos and Marathon schedulers.
- Founderphilipp-seifertPhilipp Seifert is a Partner at 468 Capital, the Berlin- and San Francisco-based venture capital firm, leading its enterprise-software investing across the United States since joining in 2021; he previously spent four years at Sapphire Ventures and began his career in technology investment banking at Goldman Sachs.
- Founderbernhard-jankeBernhard Janke is a Partner at 468 Capital, the Berlin- and San Francisco-based venture capital firm, focused on B2B investments in messaging, SMB software, robotics, security, IoT, and AI since joining in October 2021; he previously worked at Global Founders Capital and LEA Partners.
Frequently asked
- What is 468 Capital?
- Provide strategic and financial support to entrepreneurs looking to grow their businesses internationally, backing category-defining businesses that bridge the innovation gap between Europe and the US.
- How much does 468 Capital manage?
- 468 Capital manages Not consistently disclosed as a single figure — a $400M Fund II was reported in January 2022; a third-party aggregator estimate puts cumulative AUM at $1B+ (2023), not independently confirmed by the firm in assets, and was founded in 2020.
- What stages does 468 Capital invest at?
- 468 Capital invests at Pre-Seed, Seed, Series A, Series B.
Sources & citations5
Each claim links to its underlying source. Confidence reflects how directly the source supports the claim.
- 1
- 2
468 Capital raised a $400 million Fund II, closed January 2022.
Businesswire: 468 Capital Raises $400 Million Fund IIVerified2022-01-31 - 3
468 Capital's first European defense-tech investment was Twentyfour Industries.
tech.eu: Lakestar-backed German drone maker Twentyfour Industries emerges from stealthVerified2026-01-19 - 4
468 Capital's stage/sector focus and check-size convention.
VC Sheet: 468 Capital fund profileVerified2026-08-09 - 5
468 Capital's founders' backgrounds (ex-Rocket Internet, ex-Global Founders Capital, ex-D2iQ/Mesosphere CEO).
Axios: 468 Capital raises $400 million to back European startupsVerified2022-01-31