Fundraising Fox

Venture Stars

Venture capital

Munich · Pre-Seed–Growth · 5 people tracked

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Investment thesis

Venture Stars invests in technology-driven business models capable of creating new global category leaders in billion-euro markets. The firm believes exceptional entrepreneurs generate tomorrow's socio-economic wealth and should receive dedicated, hands-on support throughout their journey. By maintaining a lean, selective approach and leveraging the team's own founding experience, Venture Stars aims to be founders' closest partner while generating attractive returns. The firm prioritizes long-term relationships built on shared values of ambition and humility, focusing on companies disrupting existing markets through innovation.

Invests inSector AgnosticMunich

Source: firm website, verified Jul 21, 2026.

Stage
Pre-Seed–Growth
Check
$555K – $1.7M
HQ
Munich, DE
Leads rounds
Leads
Instruments
Equity
Tracked investments
40

Team · 5 people

from the firm's website
Florian Calmbach· Managing Partner

Co-founder and managing partner at Venture Stars who initiated the firm's first fund in 2014. He co-founded netzathleten media and multiple online startups, later transitioning to angel investing before launching Venture Stars. He is also a certified business coach and studied at WHU – Otto Beisheim School of Management, UCLA, and ICADE Madrid.

Martin Junker· Managing Partner

Co-founder and managing partner at Venture Stars with a background as a serial entrepreneur. He previously co-founded netzathleten media, which was acquired by RTL media group, and studied business administration at WHU – Otto Beisheim School of Management with international experience in the USA and Spain.

Stefan Pfannmoller· Founding Partner

Founding partner at Venture Stars and former German canoe slalom champion who competed in two Olympic Games, earning a bronze medal. He co-founded netzathleten media and now advises on AlphaPet Ventures while supporting new Venture Stars investments.

Raphael Budday· Investment Manager / Principal

Principal at Venture Stars with over eight years of venture capital and investment experience. Previously worked with SevenAccelerator and Grazia Equity supporting over 20 startups. He holds an M.Sc. in business administration from the University of Mannheim with international study experience.

Christian Maerzke· Managing Director

Operating partner at Venture Stars with prior experience at the venture capital department of KfW banking group. He is an organizational development and recruiting expert with extensive knowledge in sales, marketing, and business development, including retail scaling experience.

What they invest in

from 2 of 40 portfolio companies

AI & Machine Learning ×2SaaS ×2E-commerce ×1Enterprise Software ×1Sales Tech ×1

HQs:Germany×1Denmark×1

Investments · 40 tracked

founders shown can be your intro path
🌐goaudio.aiin𝕏

German-language audio production platform enabling creation of newscasts, audiobooks, and newsletters at reduced cost and faster speed.

Alphaalpha.petin
AlphaPet
Aphapetaphapet.com
biddzbiddz.ioin𝕏

Platform supported by Venture Stars from the idea stage through growth.

Blue Activity
Blueactivityblueactivity.de
Company Websitefreshflow.aiin

AI-powered replenishment platform for food retailers that optimizes fresh product ordering to increase revenue and reduce waste.

CyberDeskcyberdesk.appin
DaphOSdaphos.ai

Digital healthcare support platform focused on managing complex challenges efficiently, reliably, and humanely.

Dixadixa.com

Dixa builds agentic AI and AI-powered tools for customer service, serving ecommerce brands and enterprises across multiple channels to resolve inquiries faster and scale operations.

AI & Machine LearningE-commerceSaaSCopenhagen, DK

Christian Lohmann(Chief Executive Officer)inMads Blicher Fosselius(Founder & Chief Innovation Officer)inJakob Nederby(Co-Founder & CPTO)inJacob Petersen(Co-Founder & Sr. Director of Engineering)in

Eliseelise.dein
enabl
Enabl Techenabl-tech.dein
Finanzgurufinanzguru.de

AI-based digital financial assistant providing transparent account overview and contract optimization for customers.

Finoafinoa.ioin𝕏

Digital platform for managing cryptocurrency and digital assets.

Freshflow
goaudio
Holidu

Search engine for vacation rentals simplifying the search and booking process.

Infravoltaicinfravoltaic.com
MARCLEYmarcley.dein

Solar energy solution for apartment buildings offering affordable green electricity to residents.

MODmod.constructionin

Platform enabling real estate developers and contractors to assess prefab potential and integrate prefab solutions into designs.

Momentum Transfermomentum-transfer.comin𝕏

Advanced X-ray data technology providing superior imaging capabilities and accelerated results.

Netzathletennetzathleten.de𝕏

Sports and fitness nutrition brand (acquired by RTL media group).

Nuncnunc.coffee
Otarkotark.comin

Digital platform for certified green energy trading enabling companies to conclude power purchase agreements efficiently.

Smart Hostsmart-host.com
Smarthost

Intelligent hotel marketing software automating guest communication to increase direct bookings and reduce manual effort.

Solvematesolvemate.com

AI-based conversational software for customer service automation and insights (acquired by Dixa in 2022).

Summ Aisumm-ai.comin
Synera

Low-code platform for engineers that automates engineering tasks and reduces development time significantly.

Synerasynera.ioin
Tiltatilta.io
Tracdelighttracdelight.io
Untamed

Premium cat food brand providing whole meat nutrition for cats.

Untameduntamedcatfood.com
Vitafy Brands

Portfolio of food and nutrition brands for sports and fitness enthusiasts delivered through direct-to-consumer platforms.

Vitafybrandsvitafybrands.de
VoiceLine

Platform revolutionizing field sales team operations.

VoiceLinegetvoiceline.comin

Voiceline is a voice and AI-powered knowledge management tool designed to eliminate administrative overhead and streamline information capture and retrieval for teams.

AI & Machine LearningEnterprise SoftwareSaaSSales TechFrankfurt, DE

Nicolas Höflinger(Co-founder & CEO)Sebastian Pinkas(Co-founder & CTO)

Frequently asked questions

What stage does Venture Stars invest at?
Venture Stars invests at the Pre-Seed, Seed, Series A, Growth stages.
What is Venture Stars's typical check size?
Venture Stars typically writes checks of $555K – $1.7M.
What sectors does Venture Stars focus on?
Venture Stars focuses on Sector Agnostic.
Where is Venture Stars located?
Venture Stars is headquartered in Munich, DE.
Does Venture Stars lead rounds?
Yes, Venture Stars leads investment rounds.

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