Fund profile / Germany

Backtrace Capital

Geography: Germany
Stage: Pre-Seed
Fund size: €10M
Focus: SaaS
Signals: Published

N°01 / About

About Backtrace Capital

Backtrace Capital is a venture capital firm based in Germany, focusing on Pre-Seed stage investments. The fund actively supports founders building innovative solutions in SaaS, providing strategic guidance and capital to help startups scale.

N°02 / Thesis

Investment Focus

Location / RegionGermany

Funding StagePre-Seed

Industry Focus

SaaS

Investor Signals Profile

active

Sweet Spot

Technical founder building infra or developer tooling at pre-seed

pre-seed/seed

infrastructure

developer tools

platform engineering

deep tech

Bullish Signals

Fund I closed at €50mexternal

3 exits: Adjust, Instana, SOC.OSexternal

Swarm64 acq. ServiceNow; strong exit trackexternal

4 stealth portfolio cos — active deploymentexternal

Munich-based, EU infra focusexternal

3 named portfolio: PEL, KERYS, Commutatorwebsite

Angel: Gitpod, Taktile, Seqera, Wasmerwebsite

11 angel/prior investments — broad infra networkwebsite

Abusix, SO1, Qovery in angel portfoliowebsite

Ona acq. by OpenAI — AI infra alignmentwebsite

Fund I final close confirmed at €50mwebsite

Active blog: Commutator, KERYS, Platform Engineering Labswebsite

5 stealth companies in portfoliowebsite

Adjust acq. by AppLovin — solid exit validationwebsite

Contrarian Signals

Very narrow infra/dev-tools thesisexternal

Small fund — €50m limits follow-on capacityexternal

Munich HQ — limited US deal exposureexternal

Founder Do's

Build core tech infrastructure or dev tooling

Come with technical depth

Target platform/backend engineering markets

Show early stealth or traction signal

Reference angel portfolio fit: ArangoDB, Gitpod, Wasmer tier

Founder Don'ts

No consumer or non-technical products

No late-stage or growth-stage asks

No pure software-as-service without infra angle

27 signals on Backtrace Capital

14 bullish · 3 contrarian · 5 pitch do's · 3 don'ts · 2 GP profiles, each with its source. From €9/month, cancel anytime.

See a signal free View Plans Browse all Signal Profiles →

Facts

Fund Overview

Fund Size€10M

Saves0

Website

People

Key People

Michael Münnix

Dr. Michael MünnixManaging Director

Dominik TobschallManaging Director

N°04 / See also

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