# SURPLUS Equity Partners

SURPLUS Equity Partners is an Asset Manager based in Munich, Germany.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Munich, Germany
- **Region:** Europe
- **Address:** Munich, Germany
- **Assets under management:** Undisclosed
- **Website:** www.surplus-equity.com

## Regulatory record

- **Reports private funds:** No

## About

SURPLUS Equity Partners is a Munich-based fund manager that employs a Venture Capital strategy. The firm has 20 staff members, with 6 investment professionals.

## Sectors

- Enterprise Software
- AI/ML
- Industrial Tech

## People

- Florian Mandl — Managing Partner

## Questions

### What investment stages does SURPLUS Equity Partners target?

SURPLUS Equity Partners focuses on early-stage companies, investing from pre-seed through Series A rounds. The firm prioritizes B2B startups that have demonstrated technical feasibility and early commercial traction. This stage focus allows the firm to combine capital with hands-on operational and engineering support during the critical product-market-fit phase.

### Which sectors does SURPLUS Equity Partners invest in?

The firm concentrates on enterprise software, industrial technology and applied AI. Within these sectors, it looks for companies where deep technical expertise creates defensible advantages — often in areas like automation, developer tools, and data infrastructure. SURPLUS Equity Partners does not publicly identify consumer, climate or life sciences as focus areas.

### How does SURPLUS Equity Partners source its deal flow?

The firm leans heavily on its technical network within the Munich and broader German startup ecosystem. Rather than relying on inbound pitch decks, SURPLUS Equity Partners' sourcing model emphasizes referrals from engineers, technical founders and operators in the industrial and enterprise software communities. This approach mirrors the engineering-led deal flow common among specialist deep-tech funds in Europe.

### Does SURPLUS Equity Partners lead rounds or primarily co-invest?

Public records indicate the firm participates in both lead and follow-on capacities, though the exact preference is not formally stated. Its early-stage focus and concentrated portfolio suggest SURPLUS Equity Partners is willing to lead or co-lead when it has strong technical conviction. The absence of a large LP base provides flexibility in structuring its investment role.

### What geographic footprint does SURPLUS Equity Partners cover?

The investment focus centers on Germany, Austria and Switzerland, with selective exposure to startups across the broader European continent. Munich serves as both the firm's headquarters and a key origination hub, given the city's density of technical talent and B2B software activity. No offices outside Munich are publicly maintained.

## Related profiles

- [Surlamer Investments](https://altss.com/profile/surlamer-investments)
- [Surplus Invest](https://altss.com/profile/surplus-invest)

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Last updated: 2026-06-03T20:00:00.000Z

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