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Backtrace Capital

Germany
Pre Seed
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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.

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

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

Key GPs & Partners

MM
Dr. Michael Münnix
Managing Director
technicaldeep-techinfrastructure
DT
Dominik Tobschall
Managing Director
technicalinfrastructureearly-stage

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Fund Overview

Fund Size€10M
Saves0
Website
LinkedIn

Key People

Michael Münnix

Dr. Michael MünnixManaging Director
Dominik TobschallManaging Director

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