Raising Your First Check in Berlin

Fundraising in Berlin

Berlin has a vibrant early-stage funding scene. Valuations tend to be more reasonable than London. Use Dealroom to find investors.

European fundraising is relationship-driven. Cold emails work, but warm intros convert 5x better. Start 3–6 months before you need money.

Where the Money Is

Local investors, accelerators, and funding sources for your stage. For curated links, see the Berlin playbook on the main page.

• •INVEST grant subsidizes angel investments in startups (check BAFA for current rates)
• •Berlin angel scene is very active — EBAN lists angel networks across Europe
• •Dealroom and OpenVC have comprehensive DACH funding data

Legal Instruments: Convertibles & INVEST

Germany uses convertible loans (Wandeldarlehen) at pre-seed. SAFEs are gaining ground but less standard.

The German INVEST grant subsidizes angel investments — check BAFA for current terms and mention this to potential investors.

• •Dealroom has comprehensive DACH funding data
• •Berlin angel scene is very active — EBAN lists angel networks

• INVEST Grant (BAFA)

Building Your Investor Pipeline

European fundraising is relationship-driven. Here's how to build your pipeline in Berlin.

• •Use Crunchbase and Dealroom to find investors who back companies at your stage and sector
• •Attend demo days and local events — Factory Berlin, Merantix AI Campus, and Silicon Allee are key builder communities
• •Build in public on X/Twitter and LinkedIn — European VCs are very active on both
• •Ask portfolio founders for intros — this is the #1 way to get a meeting

The Unwritten Rules

European fundraising has cultural norms that nobody tells you about. Here are the ones that matter.

• •Europeans value humility over bravado — show ambition through substance, not hype
• •Follow-up is expected and respected — European investors often need 3–5 touchpoints before committing
• •Government grants and co-investment are not 'charity' — top European founders stack them strategically
• •Valuations are lower, but so is dilution — European founders often retain more equity through exit