Investment Climate Podcast: Nils Eiteneyer of Capnamic Shares How to Get Funded in 2026

In this episode of the Investment Climate Podcast, Nils Eiteneyer, a Partner at Capnamic, shares insights into the firm's investment strategy and approach to early-stage investing in tech startups. Capnamic focuses on backing category-defining B2B tech, deep tech, and early-stage infrastructure startups from the German-speaking region and broader Europe. They enter early as a lead or co-lead investor, maintaining intense partnerships with only 4 to 6 new companies per year.

Nils delves into the importance of spotting "unsexy" multi-decade themes and building defensible data moats against big tech. He discusses the mechanics of vertical software integrations, why horizontal SaaS is vulnerable to AI democratization, and how Capnamic works closely with a select few founders each year to create the next generation of category leaders. Capnamic's selective approach and hands-on operational support set them apart as a powerhouse European early-stage venture capital firm.