Fund profile / Germany

GHARAGE Ventures Fund I

Geography: Germany
Stage: Seed
Fund size: €40M
Focus: AI/ML, Supply Chain and TravelTech
Signals: Published

N°01 / About

About GHARAGE Ventures Fund I

Berlin and Singapore-based fund anchored by Gebr. Heinemann. €40M Fund I targets ~30 seed to Series A investments in travel retail, airport operations, logistics, and AI-enabled commerce.

N°02 / Thesis

Investment Focus

Location / RegionGermany

Funding StageSeed

Industry Focus

AI/ML

Supply Chain

TravelTech

Investor Signals Profile

active

Sweet Spot

B2B founders digitizing airport retail, duty-free, or travel supply chain in Europe or Southeast Asia

travel-retail-tech

airport-infrastructure

B2B-enterprise

logistics-automation

AI-operations

Bullish Signals

€40M Fund I already has portfolio companies and six-year operating historyblog

Gebr. Heinemann anchor LP provides immediate commercial pilot access across 100+ countriesblog

$100B+ travel retail market still running on 1990s legacy infrastructureblog

Dual Berlin-Singapore hub captures Europe and fastest-growing APAC aviation marketblog

Bridges startup output to global industry leader needsexternal

Ecosystem access pitch: unparalleled global industry networkwebsite

Dual value prop: founder advantage + LP tech resiliencewebsite

Deep operational expertise bridges startups to industry leaderswebsite

Strong financial returns + long-term strategic advantage for founderswebsite

Technological resilience focus appeals to risk-aware institutional LPswebsite

Unparalleled access to global travel and retail industry ecosystemwebsite

Contrarian Signals

30 portfolio companies across two continents risks thin team bandwidthblog

Fund rejects consumer travel apps — strictly enterprise infrastructure onlyblog

Highly niche thesis limits addressable deal flow outside travel retail verticalblog

Founder Do's

Target airports, duty-free operators, inflight retailers or airport logistics as primary customer

Emphasize automation, reconciliation, or digital infrastructure use cases

Leverage Heinemann network angle — show fit with operator ecosystem

Position as enterprise infrastructure play, not consumer travel app

Highlight Southeast Asia or European travel retail traction or relevance

Founder Don'ts

Pitch consumer-facing travel booking or accommodation products

Approach without a clear B2B enterprise operator customer in mind

Ignore the cross-border logistics or supply chain complexity of travel retail

25 signals on GHARAGE Ventures Fund I

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

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Facts

Fund Overview

Fund Size€40M

Saves0

Website

People

Key People

Lennard Niemann, Darren Soh

Lennard NiemannManaging Partner

Darren SohCo-Founder / Partner

Kilian von BerlichingenCo-Founder / Partner

Backers

Known LPs

Gebr. HeinemannCorporate / Strategic

N°04 / See also

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