N47

N47 is Siemens' global venture capital unit, founded in 2016 as next47 with €1 billion committed by Siemens for its first five years. It invests in enterprise technology companies across three self-described categories - Systems, Infrastructure and Applications - with teams in Silicon Valley, Europe and Israel. The firm states it invests early, before metrics are established, and also runs a seed fund-of-funds programme investing in early-stage enterprise fund managers. It rebranded from Next47 to N47 in 2025; Siemens' fiscal 2025 annual report still describes N47 as its global venture capital unit.

€1B (committed by Siemens for the unit's first five years, 2016) AUM 69/100 Power Score™ 2016 Founded Munich, Germany
Enterprise Software Infrastructure Software Cybersecurity Robotics AI
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Signature Exit

Noname Security (acquired by Akamai, 2024)

Key Partners & Leadership

Lak Ananth
Global Managing Partner
Matthew Cowan
General Partner
T.J. Rylander
General Partner
Moshe Zilberstein
General Partner
Jonathan Barek
Chief Operating Officer

Firm Timeline

2016
Siemens announces next47 as a separate unit for startups with €1 billion committed over five years; operations begin 1 October 2016
2016
Lak Ananth, previously head of HPE Pathfinder, is named to lead next47, effective 15 November 2016
2025
Next47 rebrands as N47; German commercial-register name change to N47 Services GmbH recorded 1 November 2025
2025
Siemens' fiscal 2025 annual report refers to N47 (previously Next47) as its global venture capital unit, confirming continued Siemens ownership

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