New Forge

New Forge's partners are active B2B founders and executives — most notably from Instana and codecentric — which provides a proprietary pipeline rooted in the DACH enterprise software network. The firm does not publicly describe a formal scouting program; instead, its website solicits direct outreach from founders building in its target sectors, including developer tools, enterprise SaaS, and AI/ML infrastructure.

No. New Forge operates as an angel syndicate — its partners invest personal capital directly into portfolio companies without a disclosed fund vehicle or external limited partners. The group lists over 50 active positions across sectors, but has no stated fund size, vintage structure, or institutional deployment target.

The firm does not disclose a formal investment committee. Founding Partner Mirko Novakovic and Managing Director Rico Hochguertel anchor the core group, while the remaining six partners — all former Instana or codecentric colleagues — contribute deal evaluation and operational support. Decisions appear to be made collectively by the partner group.

New Forge focuses on pre-seed and seed-stage B2B technology companies, with portfolio entries spanning 2012 to 2023. The firm's website emphasizes backing founders at the earliest commercial inflection point — between idea and growth — across enterprise SaaS, developer tooling, data infrastructure, and applied AI.

New Forge does not publish an explicit exclusion list. Its portfolio is concentrated in enterprise infrastructure, AI/ML, and developer-first products. Consumer tech, deep life sciences, and hardware-only plays are markedly absent from the disclosed portfolio.