# Tengelmann Ventures

Tengelmann Ventures is a Venture Capital based in Munich, Germany.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Munich, Germany
- **Region:** Europe
- **Address:** Munich, Germany
- **Founded:** 1867
- **Assets under management:** Undisclosed
- **Website:** tengelmann-ventures.com
- **LinkedIn:** https://www.linkedin.com/company/tengelmann-ventures

## Regulatory record

- **Reports private funds:** No

## About

Tengelmann Ventures is an active entrepreneurial investor that partners with founders and provides patient, long-term capital. It seeks highly innovative B2B and B2C companies with forward-looking products, disruptive business models and innovative technologies. Core focus is seed and early stage, with later-stage and growth investments also considered, mainly in the D-A-CH region at roughly €1–15 million per company. Investment themes are preservation, simplification and individualization.

## Sectors

- E-Commerce
- Enterprise Software
- Marketplaces
- Consumer
- Digital Health
- PropTech

## People

- Christian Winter — Managing Director
- Erivan Haub — Former Principal / Owner, Tengelmann Group

## Questions

### Who controls investment decisions at Tengelmann Ventures?

Christian Winter serves as Managing Director and leads the investment team. Day-to-day venture decisions operate with operational independence from the broader Tengelmann Group, though ultimate governance traces to the Haub family's ownership of the parent conglomerate.

### How does Tengelmann Ventures source its deals?

The firm leverages the Tengelmann Group's century-deep network in European retail and consumer goods, providing visibility into emerging commerce and logistics technologies before they reach broad institutional auction. This proprietary sourcing channel is reinforced by the portfolio's own founder referrals from notable early bets like Zalando.

### Does Tengelmann Ventures co-invest alongside external VCs?

Yes, Tengelmann frequently syndicates with top-tier European and global venture firms. Its participation signals sector validation to other investors given the parent group's operational authority in retail, but the firm does not publicly market its co-investment posture or disclose the terms on which it joins rounds.

## Related profiles

- [Tengelmann Growth Partners](https://altss.com/profile/tengelmann-growth-partners)
- [Tenggara Capital](https://altss.com/profile/tenggara-capital)

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Last updated: 2026-08-11T15:08:18.003Z

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