Backtrace Capital

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

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-a-service without infra angle

Key GPs & Partners

Dr. Michael Münnix

Managing Director

technicaldeep-techinfrastructure

Dominik Tobschall

Managing Director

technicalinfrastructureearly-stage

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Fund Overview

Fund Size€10M

Saves0

Website

Key People

Michael Münnix

Dr. Michael MünnixManaging Director

Dominik TobschallManaging Director