Blockchain Founders Capital Company Profile

Background

Blockchain Founders Capital (BFC) is a Germany-based venture capital firm specializing in early-stage investments within the Web3 ecosystem. Established in 2022, BFC is dedicated to supporting mission-driven founders who are building innovative applications at the intersection of Web2 and Web3 technologies. The firm's mission is to identify and invest in promising Web3 startups, facilitating the transition from traditional internet frameworks to decentralized models. BFC's vision encompasses a future where blockchain technology is seamlessly integrated across various industries, enhancing transparency, security, and efficiency.

Key Strategic Focus

BFC's strategic focus is on early-stage investments in Web3 companies that demonstrate compelling use cases for blockchain technology. The firm targets startups globally, with a particular emphasis on Europe and the United States. BFC's investment strategy is industry-agnostic, prioritizing applications of blockchain that have the potential to revolutionize their respective sectors. This includes areas such as digital property rights through NFTs, decentralized finance (DeFi), and AI-driven blockchain solutions. The firm seeks to back founders who are obsessed with their mission and possess the drive to make a significant impact in the digital economy.

Financials and Funding

In April 2023, BFC announced the first closing of its €15 million micro venture capital fund focused on early-stage Web3 investments. The fund aims to invest in approximately thirty companies with compelling Web3 use cases, primarily in Europe and the United States. The initial closing attracted interest from private investors, including successful founders and experienced venture capitalists eager to support emerging micro-fund managers in the rapidly growing blockchain technology space.

In January 2025, BFC welcomed Yat Siu, co-founder and executive chairman of Animoca Brands, as a limited partner. This partnership signifies a strategic alignment with a prominent figure in the global Web3 community, further solidifying BFC's position in the ecosystem. The firm is backed by over 15 high-profile investors in the emerging tech space, including Christian Ziegler, CTO of StableLab; Burkhard Bonsels, former Managing Director of Quadriga; and Peter Cullom, previously a Managing Director at 3i.

Pipeline Development

BFC has made 17 strategic investments to date, with an average ticket size of €300,000. Approximately 60% of its portfolio comprises U.S.-based projects that bridge Web2, Web3, and AI innovations. The firm plans to complete 10–15 additional investments by 2026, aiming to reach a total of 40 portfolio companies by the end of its current investment cycle.

Technological Platform and Innovation

BFC distinguishes itself through a commitment to identifying and supporting startups that leverage blockchain technology to solve real-world problems more efficiently. The firm emphasizes investments in companies that utilize blockchain to enhance existing processes, making them faster, cheaper, or more transparent. This includes applications in digital property rights, decentralized finance, and AI-driven blockchain solutions. BFC's approach is to support founders who are deeply passionate about their fields and determined to succeed, providing them with the resources and guidance needed to navigate the complexities of the Web3 landscape.

Leadership Team

Wolfgang Männel, General Partner: With over 35 years of experience in consulting, private equity, venture capital, and startups across various industries and regions, Wolfgang brings a wealth of knowledge to BFC. His extensive background enables him to guide founders through the challenges of building successful Web3 companies.

Marcel Uhlmann, General Partner: Marcel has over two decades of experience working with independent asset managers within Germany's leading B2B banks. His deep understanding of the financial industry and early involvement in decentralized finance positions him as a valuable resource for startups navigating the intersection of traditional finance and blockchain technology.

Ben Horvath, General Partner: Ben's background includes founding a startup focused on matching people based on their character, providing him with valuable insights into psychometrics. He applies these skills to support and benefit BFC's founder teams, integrating AI into the firm's tech stack to enhance deal sourcing and evaluation processes.

Leadership Changes

In January 2025, BFC announced the addition of Yat Siu, co-founder and executive chairman of Animoca Brands, as a limited partner. This partnership marks Yat Siu's first collaboration with a Germany-based fund, highlighting BFC's growing influence in the European Web3 and AI innovation space.

Competitor Profile

Market Insights and Dynamics

The venture capital landscape for blockchain and Web3 technologies is rapidly evolving, with significant investments flowing into the sector. Firms are increasingly recognizing the transformative potential of blockchain applications across various industries, leading to a competitive environment for sourcing and supporting innovative startups.

Competitor Analysis

Paradigm Operations: Founded in 2018 by Fred Ehrsam and Matt Huang, Paradigm is a San Francisco-based investment firm focusing on cryptocurrency and blockchain technology. The firm manages approximately $10 billion in assets as of 2024, making it one of the largest players in the space.

Blockchain Capital: Established in 2013 by P. Bart Stephens and W. Bradford Stephens, Blockchain Capital is one of the earliest venture capital firms dedicated to blockchain and cryptocurrency projects. The firm has invested in notable companies such as OpenSea, Kraken, Ethereum, and Coinbase.

Andreessen Horowitz (a16z): A prominent venture capital firm with a dedicated focus on cryptocurrency and blockchain technologies. In May 2022, a16z announced a $4.5 billion fund to invest in the sector, reflecting its strong commitment to the Web3 ecosystem.

Strategic Collaborations and Partnerships

BFC actively co-invests with leading venture capital firms globally, including Sequoia, Founders Fund, Ark Invest, Dragonfly, Polychain, Robot Ventures, Kraken Ventures, and Y Combinator. These collaborations enable BFC to leverage a broad network of expertise and resources, enhancing its ability to support portfolio companies effectively.

Operational Insights

BFC's strategic considerations involve identifying and investing in startups that utilize blockchain technology to address real-world challenges more efficiently. The firm's focus on early-stage investments allows it to work closely with founders, providing not only capital but also mentorship and access to a global network of innovators. BFC's commitment to diversity is evident in its portfolio, with 40% of companies founded by first-generation expatriates and 35% by women, reflecting an inclusive investment strategy.

Strategic Opportunities and Future Directions

Looking ahead, BFC aims to expand its portfolio to 40 companies by 2026, focusing on startups that bridge Web2, Web3, and AI innovations. The firm is committed to supporting the next generation of decentralized and AI-driven businesses, leveraging its expertise and network to drive innovation in the digital economy. BFC's partnership with industry leaders like Yat Siu positions it to play a pivotal role in shaping the future of the Web3 ecosystem.