Porsche Cars Canada Ltd.
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Porsche steps up invest in APX
Joint Venture with Axel Springer
Sports car manufacturer
The significantly increased funding allows APX to expand its investment model. The new capital will increase the number of yearly initial investments in ambitious pre-seed startups with digital business models. APX will also increase its follow-on commitment. While the total investment amount per startup remains uncapped, APX will focus particularly on the earliest stages, deploying up to 500,000 EUR in portfolio startups even before a Series A. APX has invested in more than 70 startups since launching in early 2018, and its ambition is to create a portfolio of close to 200 companies by 2022, which makes APX one of Europe’s most active early-stage investors.
Lutz Meschke, Deputy Chairman of the
Julian Deutz, Chief Financial Officer at Axel Springer SE says: “It is an integral part of Axel Springer’s strategy as a tech company to support early-stage startups to promote innovative digital ideas. Our additional investment in APX ensures that they are able to identify and invest in the best digital startups to an even greater extent and actively support the founders on their way to success. At the same time, it shows our confidence in the proven team around Jörg and Henric.”
APX 2021 – long-term partner, no longer an accelerator program
APX launched in 2018 as a tailor-made accelerator program. It succeeded the Axel Springer Plug and Play Accelerator, which from 2013 to 2017 was the first investor in more than 100 startups, including fintech unicorn N26. With its new investment strategy, APX moves away from having an accelerator program to being a very-early-stage investor with an ambition of leaving an even stronger footprint in the venture capital ecosystem. Not being a typical VC, APX will keep its current capital structure with Axel Springer and
“We have always been working closely with our portfolio companies, even after 100 days. Therefore, having a fixed-term program made less and less sense to us. We are already a long-term partner in action with a strong network of hundreds of mentors, experts, portfolio companies, and co-investors,” says Jörg Rheinboldt, Managing Director of APX.
Henric Hungerhoff, Managing Director of APX, on the new venture development strategy: “Our insights gained from venture development, e.g., on team dynamics or execution, are unique. Rather than singular observations in time, we continuously identify patterns based on manifold touchpoints with the founders across a large portfolio. Going forward, we will leverage this knowledge even more: to accommodate founders’ needs further and to commit to more substantial follow-on investments.”
To better address startups’ challenges across industries, APX will leverage its entire staff’s diversity and expertise, ensuring even closer support of each founding team. Although in-person presence is no longer a requirement for investment, APX will be offering its portfolio companies the opportunity to work at its brand new Berlin office when the situation again allows it. The carbon-neutral office space has areas dedicated to the various challenges of every-day work, such as collaboration, experience exchange, learning, focus, events and meetups, and it will be a community hub for the APX startups.
APX is a very-early-stage startup investor. Based in Berlin and backed by
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