Heliad
This publicly listed, evergreen German VC invests directly off its own balance sheet, meaning there are no fund cycles and no LP exit pressure, so portfolio companies are not pushed to exit early. The firm operates with a team of around 10 people across Frankfurt and Berlin, and its anchor shareholder, holding approximately 60%, is the founder of the online broker Flatex DeGiro. It backs high-growth, scalable technology companies across both B2B and consumer markets from pre-Seed to Series C, covering sectors such as fintech, energy/climate, mobility, insurance, and deep tech, with a portfolio that includes Raisin, Enpal, Clark, and FINN. The firm enters early as a complementary co-investor alongside a strong lead—never leading early rounds—to get a foot in the door, and then concentrates capital on the winners in later or growth rounds (Series B+). Its recent deals include Bayshore in Munich, alongside Earlybird, and an oversubscribed defense round.
Visit websiteWhat they back
Backs high-growth, scalable technology companies (B2B and consumer) from pre-Seed to Series C — sectors span fintech, energy/climate, mobility, insurance and deep tech (portfolio incl. Raisin, Enpal, Clark, FINN). Enters early as a complementary co-investor alongside a strong lead (never leads early rounds) to get a foot in the door, then concentrates capital on the winners in later/growth rounds (Series B+). Recent deals: Bayshore (Munich, alongside Earlybird) and an oversubscribed defense round.
Heliad AG is a prominent, publicly listed venture capital and growth equity firm based in Germany, specializing in high-growth, disruptive technology companies. Operating with an evergreen balance sheet structure rather than a traditional closed-end fund, Heliad provides flexible, ultra-long-term capital that supports founders from early-stage innovation to public market listings.
The people behind the fund
Key details
- Typical check
- €500k – €2M
- Constraints
- DACH/Europe focus, no US mandate. Treat US-incorporated startups (Delaware Inc) operating outside the EU as out. (Can, 2026-06-27)