NAP
Investing at the pre-seed and seed level, this fund is Europe-centric with deep roots in the DACH region. Their core thesis centers on backing early-stage European founders who are building B2B software, enterprise tech, productivity tools, and vertical software solutions to solve complex, real-world problems, often transforming old-school or traditional sectors. They invest strictly in B2B only (no B2C) and favor expert founders modernizing a specific industry over generalists, prioritizing businesses that show consistency, capital efficiency, and massive operational impact over hype. They target ~10–15% ownership, remaining flexible when working with co-investors. Geographically, they invest across Europe—including the UK, Ireland, the DACH region, the Nordics, Italy, and parts of Eastern Europe—but they cannot invest in Turkey.
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Their core thesis centers on backing early-stage European founders who are building software and digital solutions to solve complex, real-world problems often transforming old-school or traditional sectors. They focus on businesses that are consistent favoring capital efficiency and massive operational impact over hype. B2B only (no B2C); targets ~10–15% ownership (flexible with co-investors); backs expert founders modernizing a specific industry over generalists. Invests across Europe (UK, Ireland, DACH, Nordics, Italy, some Eastern Europe) but cannot invest in Turkey.
NAP is a European early-stage venture capital firm backing “boringly consistent” founders building software that drives outsized operational impact. The team invests pre-seed and seed across Europe, with strong roots in the DACH region. Focus areas include B2B/enterprise software, vertical SaaS, fintech, and AI/data infrastructure.
The people behind the fund
Key details
- Typical check
- €1–3M initial investment, plus follow-on