Munich-based venture capital firm Backtrace has completed the first close of its fund, raising €10 million, with plans to reach a total of €30 million by next year. The fund aims to support approximately 20 to 25 European tech infrastructure startups in their pre-seed and seed rounds.
- Founded in 2023 by Michael Münnix and Dominik Tobschall, Backtrace is a venture capital firm that invests in early-stage software developers, as well as security and AI infrastructure companies across Europe, with global ambitions.
- The fund will support essential infrastructure technology for software development, focusing on tools and software that help build applications, particularly in AI. This includes systems designed for data centers to manage large language model workloads.
- The firm wants to help companies enter the US market successfully by using a two-part strategy. They will set up research and development operations in Europe early on, while also starting to grow the business in the US right from the start.
- At Backtrace Fund, I aim to lead or co-lead investments in 20 to 25 innovative companies. Its investment strategy focuses on pre-seed checks ranging from €750,000 to €1 million and seed checks exceeding €1 million.
"We’re lucky to have an amazing set of LPs and entrepreneurs around us (who in many cases we call friends), who can be sparring partners to develop, falsify, and improve our theses. We’re also lucky to start backtrace as a team of two good friends, former colleagues, developers, co-investors, and geeks," commented Michael Münnix and Dominik Tobschall, the managing founders at Backtrace Capital.
- The fund has received support from several undisclosed LPs and entrepreneurs. It is now getting close to making its first investment.
