Health, education, and the environment—these are the three areas impact investor Capacura specializes in. In this interview, the team around Managing Director Ingo Dahm tells us which startups they prefer to invest in and which phase is ideal for a Capacura investment.
Munich Startup: Please introduce yourselves briefly.
Capacura: We are an early-stage investor that makes direct investments with volumes between 200,000 and 500,000 euros in the areas of Health, education and environment.
To date, we have invested in nine startups in the above-mentioned areas with a total volume of approximately €3.5 million. On our website www.capacura.de you can find more information about our investments.
Munich Startup: What do you prefer to invest in?
Capacura: We invest exclusively in impact startups, i.e., startups that offer a digital solution while simultaneously creating social value. We focus on the areas of health, education, and the environment.
“An interesting solution that produces huge amounts of waste would not be an option for us.”
Munich Startup: What kind of startup would you never invest in?
Capacura: We want our startups to operate sustainably. For example, an interesting solution that produces huge amounts of waste would be out of the question for us. We act and work according to our values of integrity, responsibility, passion, and respect for people and the environment. A founding team that doesn't identify with these values would not be considered for a joint venture.
Munich Startup: Do you scout for promising companies yourself or do you have consultants for this?
Capacura: We do the hiring ourselves. It's incredibly important for us to get to know the startups personally so we can assess them and their work. After all, we want to go a long way together, so the interpersonal connection has to be right. We're happy to invite the startups to our terrace for a meal together—a pleasant way to get to know each other better.
“We invest primarily in the pre-seed and seed round”
Furthermore, we also have a very exciting AI-based evaluation tool Startups can register there and receive a transparent evaluation, regardless of whether we end up partnering permanently.
Munich Startup: At what stage do startups ideally approach you?
Capacura: We invest primarily in the pre-seed and seed rounds, which means that the startups have ideally successfully filed their patent or obtained certification (for medical products), have their first customers and revenues (proof of concept), and have a strong founding team at the helm.
Munich Startup: How long does it take from the first contact to the conclusion of the contract?
Capacura: Our evaluation tool makes it comparatively fast. Previously, it took us an average of six weeks from initial contact to contract signing.
Munich Startup: “To be successful, a startup must…”
Capacura: ... excel in five categories: idea, timing, team, business model, and strategic fit with us and our portfolio. We share the opinion of experienced American investor Bill Gross that timing is the most important factor for success.
Munich Startup: Tell us the knockout criterion for the pitch!
Capacura: We generally view pitches with a positive attitude and understand nervousness or a certain degree of improvisation. We're all only human, after all. However, when characteristics like arrogance or insincerity come into play, or behavior that contradicts our values, that's an absolute no-go for us.
Munich Startup: What have you ever miscalculated?
Capacura: How much cake a team like that can eat… No, seriously: we have the best example of an unpredictable situation right now. While we were still planning our monthly goals, the corona crisis and has thrown a wrench in our plans. Suddenly, we have to reorganize our plans: employees are working from home, some customers are cutting costs, and completely new opportunities are opening up for some startups. Life isn't 100 percent predictable.
Desirable: More events for early-stage startups
Munich Startup: What is the Munich startup scene doing right from an investors' perspective? What could it do better?
Capacura: The dynamic startup community, especially supported by the two large universities LMU and TUM, is worth its weight in gold, as the number of successful startups shows, for example Flixmobility, Personio, Celonis or Stylight. There is also a very active startup community and many events such as the Startup Safari, Plant1 Get Together, events in Impact Hub, Impact Investment Stammtisch and many more.
The connection between startups and investors—especially in the early stages—should definitely be improved through more events like the Cashwalk, where startups and investors have the opportunity to get to know each other and network in a smaller setting. We want to contribute to this.
Munich Startup: Last but not least: Who do startups approach when they want to talk to you?
Startups who need financing are welcome to fill out our online form or contact our Chief Unicorn Shepherd Ina turn around.
