T.Capital

Managing Partner Oliver Schmäschke steers the overall investment strategies and operations, while the Ventures and Tech Fund teams operate with dedicated partners. Julia Kainz leads the combined Tech Fund and Venture Investments group from Deutsche Telekom's side. The Tech Fund partnership includes Maneesh Sharma, formerly a Managing Director at Aleph Capital, and Till Sutor, who spent six years at Berlin-based private equity firm Elvaston Capital (per the firm, 2025).

Deal flow is heavily relationship-driven and anchored in Deutsche Telekom's global commercial network. Portfolio companies such as ElevenLabs and Perplexity gain direct distribution through Deutsche Telekom's subscriber base and enterprise sales channels, which drives a significant volume of warm introductions. The team also sources through co-investor relationships built from prior DTCP funds and through the hub:raum early-stage program's alumni network.

The Ventures arm covers early-stage and growth-stage rounds, including seed through Series B and later. The Tech Fund targets buyout, expansion, and late-stage growth positions, especially in software and managed service providers. The portfolio reflects this split — recent 2025 rounds include seed-stage AI infrastructure plays like Nscale alongside later-stage Series B observability platform Dash0.

DTCP was the investment platform co-founded by Thorsten Langheim and others inside Deutsche Telekom that has since split into two separate entities. T.Capital is the renamed and refocused strategic investment arm of Deutsche Telekom, while DTCP continues independently as a growth equity and digital infrastructure manager. Oliver Schmäschke was COO of both platforms before becoming Managing Partner of T.Capital outright.