Tengelmann Ventures (TEV)

Tengelmann Ventures (TEV) is the corporate venture capital arm of the Tengelmann Group, a long-established German retail conglomerate. Founded in 2009 and based in Munich, the firm invests primarily in consumer-centric B2C and B2B businesses across the DACH region, backing entrepreneurs whose missions align with three themes: preserving life and the environment, simplifying everyday life, and individualizing products and services to changing needs. It concentrates on Seed through Series A and B rounds, with sectors spanning consumer internet, e-commerce and retail, digital marketplaces, fintech, software and technology, and emerging consumer-facing categories, and it is willing to lead. As of mid-2025 the firm had invested in roughly 56 companies, and its track record includes three unicorns, Scalable Capital, SumUp and Cabify, nine IPOs and 21 acquisitions, with notable holdings and exits including SumUp, Scalable Capital, Delivery Hero, Lazada Group, Global Fashion Group, Masterplan and Edurino. The team comprises about ten people including four partners, with managing directors Götz Müller, Patrick M. Schaich and Werner Stütz. The firm positions itself as a reliable, long-term and sustainability-minded partner that builds relationships with founders early. Its most recent disclosed investment was a Series B in digital education platform Edurino on July 3, 2025. By combining patient, retail-rooted capital with a clear consumer thesis, Tengelmann Ventures backs founders across commerce, fintech and software in German-speaking Europe and beyond.