42CAP is a Munich seed investor that states it invests "€ 0.5 to 3m in seed-stage tech- and data-driven B2B software companies across Europe" and that "We focus on companies originating out of Europe with global ambition." Its investment thesis page describes targeting both product-market-fit bets, which it calls post-product but pre- or early-revenue, and scaling bets with initial revenues, and sets out criteria including companies with the potential to reach a valuation above €500m within seven to eight years and addressable markets above €1b in recurring revenues at high gross margins. The site says the firm is on its fourth fund generation and describes its partners as founders turned investors who built European software companies during the first internet wave. The thesis page notes support from InnovFin Equity with European Union backing through Horizon 2020 and EFSI.