Nuremberg-based ZOHO.VC, the new venture capital arm of ZOLLHOF – Tech Incubator, today announced the successful First Closing of its inaugural fund – with a target volume of €10 million – already securing securing 70% of the target fund volume ten months ahead of the final closing.
The focus of the fund, which currently sits at €7 milllion, is on early stage technology-driven startups that benefit from a close connection to the ZOLLHOF ecosystem.
Dennis Kirpensteijn, General Partner at ZOHO.VC, commented on the milestone: “Securing 70% of our capital by the First Closing is a massive vote of confidence from our LPs. They support us not only with capital but with their own networks, expert knowledge across a variety of industries and technologies, and immense entrepreneurial experience. It also shows that our approach – being deeply rooted in the operational startup ecosystem – strikes a chord in today’s market.”
Analysis from 2025 and 2026 shows sustained activity around early-stage, technology-driven venture funds across Europe, providing relevant context for ZOHO.VC’s first close.
The Footprint Firm announced a €76 million fund focused on early-stage climate and DeepTech companies across Northern Europe. Germany remains particularly active: Munich-based Vanagon Ventures secured €20 million to address the pre-Seed DeepTech and AI gap, while Ananda Impact Ventures completed a €73 million first close for its impact-focused technology fund.
At a pan-European level, U2V launched a €60 million vehicle to back pre-Seed and Seed DeepTech startups emerging from technical universities. Southern Europe has also seen new early-stage capital formation, with Milan-based Step Fund raising €30 million for Seed-stage tech startups and Madrid-based Mission unveiling a €35 million pre-Seed fund following Demium VC’s rebrand.
Taken together, these announcements account for approximately €294 million in newly raised or first-close capital directed towards early-stage and adjacent technology sectors, situating ZOHO.VC’s €7 million first close within a broader pattern of continued European investor commitment to pre-Seed and Seed-stage technology investing, including multiple funds originating from Germany.
“We are not just financiers; we are partners from day one. Launching its own venture capital fund is the logical next step for ZOLLHOF – Tech Incubator, ensuring it can continue to provide ideal conditions for the growth and scaling of technology startups well into the future,” adds Dennis.
ZOHO.VC is a VC fund born out of the ZOLLHOF innovation center. The fund invests in technology startups in the pre-Seed and Seed phases. Through its combination of capital, technical understanding, and a network of corporate partners, tech experts, and co-investors, ZOHO.VC looks to offer startups more than just financial support.
The VC is led by Dennis Kirpensteijn, Benjamin Bauer, and Nicolas Sievers. The team is further supported in its investment decisions by Dr. Judit Klein, Head of Startups at the ZOLLHOF Tech Incubator.
The investment strategy comprises a mix of startups emerging from its own incubation programme – recently designated a “Startup Factory” by the German Federal Government – as well as co-investment opportunities from its investor network.
This strategy is already yielding results: parallel to the fundraising process, the investment team has already added five startups to its portfolio. A highlight is Merge Labs, the new venture from Sam Altman and FAU alumnus Alex Blania, whose funding round was led by the OpenAI Startup Fund.
Due to steady deal flow and fast growth, partners Benjamin Bauer and Dennis Kirpensteijn, together with Principal Nicolas Sievers, plan to increase the fund volume beyond the initial target during 2026.
Read the orginal article: https://www.eu-startups.com/2026/01/germanys-zollhof-spins-out-zoho-vc-as-new-e10-million-early-stage-fund-hits-70-first-close/
