Investment thesis
Black Forest Business Angels is a Freiburg-based angel network investing at pre-seed and early stage in German technology startups, including B2B SaaS, climate tech, healthtech and construction tech. Members pool capital so several angels cover a round together, combine their competencies and act as a single contact for founders. Selection turns on the team, a clear strategy with a valid business plan and full founder commitment.
Past investments
| Company | Round | Date | Round size |
|---|---|---|---|
| Penemue Freiburg, Germany | - | Apr 2026 | €1.7M |