German ZOHO VC, the newly launched venture capital arm of ZOLLHOF – Tech Incubator, has announced the first closing of its inaugural fund, securing €7 mn (70% of its €10 mn target) just 10 months ahead of the planned final close.
Based in Nuremberg, the fund is focused on early-stage, technology-driven startups, particularly those that benefit from close integration with the ZOLLHOF ecosystem.
The strategy reflects a growing trend across Europe of ecosystem-led venture funds that combine capital with operational and technical support at the pre-Seed and Seed stages.
Dennis Kirpensteijn, general partner at ZOHO VC, described the first close as a strong signal of investor confidence, noting that limited partners are contributing not only capital but also industry networks, technical expertise, and entrepreneurial experience.
He added that ZOHO VC’s positioning within an active startup incubator resonates in a market where hands-on support is increasingly valued alongside funding.
“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,” Dennis Kirpensteijn said.
The first close comes amid sustained momentum for early-stage venture capital across Europe in 2025 and early 2026. A number of funds have raised or announced first closes targeting technology, deep tech, and impact-driven startups.
ZOHO VC was established as a natural extension of ZOLLHOF’s incubation activities. The incubator was recently designated a “Startup Factory” by the German federal government, reinforcing its role in nurturing technology-driven entrepreneurship.
The fund’s investment strategy combines backing startups emerging directly from ZOLLHOF’s programmes with selective co-investments sourced through its broader investor and corporate partner network.
The fund is led by Kirpensteijn alongside partners Benjamin Bauer and Nicolas Sievers, with investment decisions supported by Dr. Judit Klein, head of startups at ZOLLHOF. Despite being early in its lifecycle, the fund has already added five companies to its portfolio during the fundraising process.
One notable investment is Merge Labs, a venture founded by Sam Altman and FAU alumnus Alex Blania, whose recent funding round was led by the OpenAI Startup Fund.
ZOHO VC said strong deal flow and portfolio momentum have prompted discussions about increasing the fund’s size beyond the original €10 mn target during 2026.
Kirpensteijn said launching a dedicated venture fund allows ZOLLHOF to deepen its long-term commitment to founders, positioning ZOHO VC not only as a source of capital but as an early partner supporting technology startups from inception through scaling.
Within Germany’s venture ecosystem, home to larger platforms like High-Tech Gründerfonds, ZOHO VC differentiates by its tight regional focus (Northern Bavaria), deep integration with an existing incubator, and specialization in ultra-early deep-tech checks.
