Deep Tech · VC Firm · Active
First Momentum Ventures
First Momentum Ventures is a Karlsruhe-based pre-seed VC founded 2017, with ~€80M AUM across two funds. Invests pre-seed in German-speaking deep tech: quantum, AI, industrial, climate.
Investment thesis
First Momentum Ventures is a Karlsruhe-based pre-seed VC founded 2017, with ~€80M AUM across two funds. Invests pre-seed in German-speaking deep tech: quantum, AI, industrial, climate. Cheques €100k-€1M, typically first institutional money.
Quantum bet: QuantumDiamonds (Munich/Zurich NV-center magnetometry spin-out from MPQ / ETH, for biomedical imaging and industrial sensing). Co-invested alongside IQ Capital and Onsight Ventures.
Value-add: KIT Karlsruhe and broader DACH academic-spin-out dealflow; pre-seed operator support for founders at the technology-transfer stage.
Not a quantum specialist — single pre-seed bet in a broader DACH deep-tech mandate. Relevant as earliest-stage institutional-capital gateway for German-speaking quantum founders.
Anti-thesis
The patterns that trigger a fast no with this fund.
- Karlsruhe / EU-focused with pre-seed checks of EUR 250K to 1M, quantum capital intensity dwarfs available reserves
- Pre-seed entry means underwriting solo physicist founders before commercial team is built, quantum's enterprise sales motion requires GTM hires Series A funds typically backfill
- Germany's quantum ecosystem is heavily state-subsidized (BMBF, DLR-QCI), non-dilutive grants distort early valuations and reduce equity returns for venture investors
- Fund size constrains follow-on participation in Series A / B rounds where quantum companies need $30 to 100M, First Momentum gets diluted out of upside
- European exit environment for deep tech is weak (limited strategic acquirers, thin IPO market for hardware), quantum DPI path is structurally harder than for SaaS
Notable quantum portfolio
Full portfolio →Reach out to First Momentum Ventures
A cold email and a 1-page brief, ready in two clicks.