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BitStone Capital is a venture capital firm based in Cologne, Germany, founded in 2018 by Art-Invest Real Estate and Kai Panitzki. The firm specializes in PropTech and Construction Tech, focusing on innovative and sustainable technology solutions within the real estate sector. BitStone Capital aims to support the sustainable transformation of these industries through its investments and extensive network.
Currently, BitStone Capital manages approximately €50 million across its funds and has invested in over 20 companies. The firm operates with a team of four members, including investment managers and partners, who leverage their deep industry connections to facilitate growth for portfolio companies. The firm’s office is located at Am Kabellager 11, 51063 Köln, Germany.
BitStone Capital has established a strong reputation for connecting startups with blue-chip real estate and construction limited partners, which enhances the potential for pilot projects and strategic partnerships. This focus on collaboration has positioned the firm as a key player in the PropTech and Construction Tech sectors.
BitStone Capital invests across multiple verticals within the real estate technology sector, including Plan & Build, Manage & Operate, Finance & Transact, New City Solutions, and Climate Solutions. The firm targets early-stage investments, specifically from Seed to Series A, primarily in Germany and broadly across Europe. The firm’s investment strategy emphasizes sustainability and efficiency, aiming to catalyze growth in its portfolio companies.
In the Plan & Build vertical, BitStone Capital focuses on digitalization and technology solutions that enhance construction processes from planning to completion. The Manage & Operate vertical includes technologies that promote sustainable building operations and efficient usage. In Finance & Transact, the firm invests in tools related to real estate financing and brokerage. New City Solutions encompasses innovative approaches to urban living and working environments, while Climate Solutions targets technologies that measure and reduce greenhouse gas emissions.
BitStone Capital's portfolio includes over 20 companies that are making significant strides in the PropTech and Construction Tech sectors. Notable portfolio companies include:
This diverse portfolio reflects BitStone Capital's commitment to enhancing sustainability and efficiency in the real estate sector.
Kai Panitzki: Managing Partner and co-founder of BitStone Capital, Kai has extensive experience in real estate investment and technology. He has played a pivotal role in shaping the firm's investment strategy and building its industry network.
Manfred Heid: Managing Partner, Manfred brings a wealth of knowledge in venture capital and real estate. His expertise helps guide the firm's investment decisions and portfolio management.
Marc Stilke: Venture Partner, Marc has a strong background in real estate and technology, contributing to the firm's strategic direction and investment sourcing.
Thomas Knaack: Venture Partner, Thomas specializes in identifying emerging trends in the PropTech sector and supports portfolio companies in scaling their operations.
Michael Kokorniak: Venture Partner, Michael focuses on investment analysis and portfolio management, leveraging his experience in the construction industry.
Akin Özdemir: Director of Finance, Akin oversees financial operations and reporting for the firm, ensuring sound financial management.
Marnix Roes: Investment Manager, Marnix is responsible for sourcing and evaluating new investment opportunities within the PropTech and Construction Tech sectors.
Daniel Pölt: Investment Manager, Daniel supports the investment team in due diligence and portfolio management activities.
Matthias Lederbogen: Investment Associate, Matthias assists in research and analysis of potential investments, contributing to the firm's decision-making process.
To pitch to BitStone Capital, founders should use the preferred channel of their website at bitstone.capital or email hello@bitstone.capital. It is important to include a comprehensive pitch deck that outlines the business model, market opportunity, and team qualifications. Founders should expect a response within a few weeks, depending on the volume of inquiries.
Warm introductions are preferred, as they can facilitate a more favorable review process. Founders are encouraged to highlight any connections to existing portfolio companies or industry partners in their pitch.
BitStone Capital operates the **Real Estate & Construction Tech Fund**, which focuses on investing in early-stage startups in the PropTech and Construction Tech sectors. This fund has completed multiple closings, including a first closing with a volume of approximately €50 million. Startups interested in applying for funding through this program can reach out via the firm's website or email.
In June 2025, BitStone Capital announced the first closing of its new fund, Realyze Ventures, with a volume of approximately €50 million. This fund focuses on early-stage investments in PropTech and Construction Tech, further solidifying the firm's commitment to sustainable innovation in the real estate sector.
In February 2020, BitStone Capital completed its first closing for Fund II, attracting limited partners such as Goldbeck, GC Group, and Zech Group. This fund has enabled the firm to expand its portfolio and support more startups in the PropTech and Construction Tech sectors.
BitStone Capital continues to maintain an active presence in the industry, regularly updating its blog with insights and news related to its portfolio companies and the broader market.
What are BitStone Capital's investment criteria?
BitStone Capital focuses on early-stage investments in PropTech and Construction Tech, specifically targeting Seed to Series A stages. The firm seeks innovative solutions that enhance construction processes, building operations, real estate financing, and sustainable urban living.
How can startups apply or pitch to BitStone Capital?
Startups can pitch to BitStone Capital through their website at bitstone.capital or by emailing hello@bitstone.capital. It is recommended to include a detailed pitch deck outlining the business model, market opportunity, and team background.
What makes BitStone Capital different from other venture capital firms?
BitStone Capital distinguishes itself by providing access to a deep industry network within the real estate and construction sectors. This network includes blue-chip limited partners, which can facilitate pilot projects and strategic partnerships for portfolio companies.
What is the geographic scope of BitStone Capital's investments?
The firm primarily invests in Germany but also considers opportunities across Europe, particularly in markets that align with their investment focus on PropTech and Construction Tech.
What is BitStone Capital's approach to post-investment involvement?
BitStone Capital actively supports its portfolio companies by leveraging its extensive network to connect them with potential customers and partners. The firm also provides expertise in navigating the complexities of the PropTech and Construction Tech sectors.
What is the size of BitStone Capital's fund and typical check size?
BitStone Capital manages a fund size of approximately €50 million, with typical check sizes ranging from €500,000 to €2 million, depending on the stage and needs of the startup.
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