Puzzle Ventures
Overview
Puzzle Ventures is a €21.5M early-stage venture fund that partners with exceptional European entrepreneurs building transformational B2B software businesses.
Investments
| Company | Date | Stage | Lead |
|---|---|---|---|
| Gradient Labs | Jul 2025 | Series A | Co-investor |
| Ankar | May 2025 | Seed | Co-investor |
| Duvo | Dec 2025 | Seed | Co-investor |
| Integral | Sep 2026 | Series A | Co-investor |
| Conlio | Nov 2026 | Seed | Co-investor |
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Key People
Gloria Baeuerlein
Founding Partner
Philipp Hartmann
Venture Partner
Sector & Stage Mix
Industry, funding stage, and valuation band breakdowns.
FAQ
Where is Puzzle Ventures based?
Puzzle Ventures is headquartered in Berlin, Germany.
When was Puzzle Ventures founded?
Puzzle Ventures was founded in 2022.
How many portfolio companies does Puzzle Ventures have?
Puzzle Ventures has 16 portfolio companies in Caplight's dataset.
What are some companies in Puzzle Ventures's portfolio?
Portfolio companies visible on Caplight include Gradient Labs, Ankar, Duvo, Integral, Conlio.
What was Puzzle Ventures's most recent investment shown here?
Puzzle Ventures's most recent investment in this portfolio sample was in Conlio in 2026.
What sectors does Puzzle Ventures focus on?
Puzzle Ventures focuses on Crypto & Web3, Healthcare & Life Sciences, Crypto & Web3, AI, Data & Cloud Infrastructure, Crypto & Web3, AI, Data & Cloud Infrastructure, Enterprise Software, Enterprise Software, Mobility, Transportation & Logistics, Energy & Sustainability, Crypto & Web3, Real Estate & PropTech, Enterprise Software, Enterprise Software, Enterprise Software, Enterprise Software, AI, Data & Cloud Infrastructure, FinTech, AI, Data & Cloud Infrastructure, Enterprise Software, AI, Data & Cloud Infrastructure, Enterprise Software, AI, Data & Cloud Infrastructure, AI, Data & Cloud Infrastructure, Frontier & Industrial Tech, Enterprise Software, Enterprise Software, AI, Data & Cloud Infrastructure, FinTech, Enterprise Software, Frontier & Industrial Tech.
What company stages does Puzzle Ventures focus on?
Puzzle Ventures typically invests at the Early stage.
What is Puzzle Ventures's AUM?
Puzzle Ventures's assets under management are estimated between $23.2M and $23.2M.