Possible Ventures

Possible Ventures is a venture capital firm headquartered in Munich that invests primarily at pre-seed and seed stage in companies applying frontier technology to challenges across climate, energy, health and society. Its stated technology focus spans deep tech, life sciences and software platforms, including areas such as machine learning and AI, synthetic biology, genomics, bioinformatics, biometrics and identity, cybersecurity, blockchain, space technology and nuclear fusion. Investment themes named by the firm include carbon capture, the energy transition, food and agriculture, new materials, the circular economy, space resources, drug discovery and precision medicine, financial inclusion and upskilling.

The firm operates a global mandate rather than a fixed geographic remit, and says it will also consider later-stage companies that fit its strategy and show strong growth. It emphasises interdisciplinary founding teams combining scientists, engineers and commercial operators. The team is described as small and interdisciplinary, comprising founder and general partner Chris Hitchen, partners Thyra Seitz and Dr. Christoph Baumeister, and senior associate Tim Linnenweber; earlier press coverage described a seven-person team including investor Marie Tai.

Portfolio companies cited across the firm's site and third-party coverage include Marvel Fusion (nuclear fusion), The Exploration Company (spacecraft), tozero (battery recycling), Automata (lab robotics), POW.bio, Orbem, Entheos, Zaffrens, Auriga, Number 8 Bio, Uluu, Flo Materials, Kite Magnetics, Reverion, HyperHeat, Podimo, Immutable and Sorare.

Founding story

Founder and general partner Chris Hitchen built and exited several companies before moving into investing, writing 50 angel cheques from 2006 onward and serving as a venture partner at EQT Ventures, Project A and Square Peg Capital; he founded Inventures and the Inventures Collective prior to launching Possible Ventures, whose first fund was raised in 2019.

Business model

Possible Ventures raises closed-end venture funds from limited partners and deploys capital into early-stage startups, taking minority positions. It deliberately keeps fund sizes small, writes average tickets of roughly EUR 250k-500k and targets ownership closer to 5% rather than the 15-20% sought by larger lead investors, and it does not take board seats.

As a fund manager, the firm's economics derive from limited partner commitments — management fees on fund capital and carried interest on returns — with Chris Hitchen stating a preference for smaller funds and lower management fees in pursuit of outlier returns.

Traction

The firm reports more than 200 investments across over 20 countries, a network of over 300 established founders, angels and entrepreneurs, and over 200 LPs. As of mid-2023 press coverage it had invested in about 135 companies. A third-party investor guide estimates assets under management of about $116m.

Latest developments

Coverage from July 2023 reported the firm raising its third fund with a EUR 60m target and a first close planned for the end of that month, while resisting LP offers of larger commitments in order to keep fund size small. A third-party investor guide notes continued portfolio expansion with companies including Marvel Fusion, The Exploration Company and tozero.