Palm Drive Capital

Backtrace is a Munich-based venture capital firm focused on technology infrastructure. It positions itself as a pre-seed/seed fund for the building blocks that power the world, backing early-stage companies that create platform engineering tools, developer platforms, and other foundational technology. The firm’s portfolio includes Platform Engineering Labs, KERYS Software, [commutator,studios], and other early-stage ventures. This thesis-driven approach emphasizes deep technical expertise and a long-term view of Europe’s tech infrastructure stack. Fund I has been announced and the team has publicly highlighted its focus on European technology infrastructure as a core thesis, signaling disciplined growth and portfolio development across the continent. Founded in 2023 by Michael Münnix and Dominik Tobschall, Backtrace operates as Backtrace GmbH in Munich. The lean, five-person team is led by two managing directors and a founder/partner duo. The firm closed Fund I at €50 million to back Europe’s next generation of tech infrastructure founders. It communicates through SFDR disclosures and a media kit, underscoring a transparent, thesis-driven approach to seed-stage investing in the European technology infrastructure ecosystem.

Trestle Partners is a private investment fund investing solely in pre-Series A and Series A SaaS businesses. We provide capital to founders so they can continue to scale without committing to the Bay Area's single-track approach to growth. Our founders have built platforms with strong product-market fit and responsible growth patterns. Our Approach We believe the SaaS business model is the most efficient in history. Given its inherent attributes (recurring revenue, high gross margin, controllable cost structure), founders can scale a SaaS business more efficiently now than ever before. So why has the average early-stage financing grown >3x in the last 8 years? Because the VCs who invest in this space have raised enormous funds and need to increase the size of their investments to make their own economics work. We believe this focus on huge rounds has created a dependence on unrealistic growth expectations, which has led to a couple of enormous success stories... but far more failures. Trestle offers founders the ability to continue to grow their business and hit milestones, while keeping their options open and avoiding the pitfalls that come with the traditional VC path.

Our Community partners have already embarked on their own crazy race of creating a B2B SaaS, some with a favorable exit outcome, others with a failure outcome, this allowed us to identify a methodology to find challengers of tomorrow. Part of our strategy comes from the business needs of our partners, in a logic of innovation and rationalization of costs it is interesting to look at the case of new players Today our Community partners come from the digital world and together we pool our expertise to identify the hidden value of tomorrow’s challengers Type of assets we are targetingShares: Mainly focused on startups with high potential, one of the key elements in this type of asset is the analysis of the market potential as well as in the team which will be in charge of developing the concept User License: Mainly focused on projects having a Functional MPV and seeking to consolidate it by sharing it with their early adopters, our attention is mainly focused on the execution strategy and the impact of its companies. Token: Mainly focused on web3 projects, this type of asset is generally linked to blockchain and data systems. our focus on this type of asset is focused on the oten linked to the governance and/or the use of a B2B SaaS system.

Glade Brook is a growth equity firm investing globally in what we believe to be the most promising technology companies. The firm partners with entrepreneurs and management teams to accelerate growth and maximize long-term shareholder value, from growth stage through IPO and beyond. Through deep sector expertise, fundamental research, thought leadership and an extensive network of industry relationships, Glade Brook catalyzes value creation for many of the world’s most promising companies.

Cowboy Ventures is a seed-stage focused fund investing in digital startups. We seek to back exceptional founders who are building products that “re-imagine” work and personal life in large and growing markets. We're based in Palo Alto, CA, and invest across the United States.

We offer bespoke growth capital solutions to emerging software companies to fuel growth-focused initiatives. Exclusively dedicated to software investing, we bring deep domain expertise to deliver meaningful, tangible value to our portfolio companies. We sit in Los Angeles and Miami and invest globally wherever there is need for flexible capital. With over eight years investing and 25+ platform investments under our belt, we target opportunities of varying sizes and a broad range of transaction types. Alignment is at the core of what we do – alignment with the management teams we partner with, with our investors and with one another. We challenge ourselves to see opportunity where others don’t. We consider ourselves lucky to have the opportunity to partner with and invest in some of the best SaaS companies in the world and we take the responsibility of being a part owner and part contributor very seriously.