Over the past few weeks, we’ve often been asked how Axel Springer Plug and Play (ASPnP) and APX are connected and who does what.
Let me explain: We’re siblings. ASPnP has invested in 102 companies, participating in multiple portfolio financing rounds in the past five years. It’s now focused on supporting portfolio companies through networking and participating in select financing rounds.
APX, on the other hand, is investing in new companies. More info here.
This is how we’d explain it if we were a VC: ASPnP is ‘fund one’ and APX is ‘fund two’. Axel Springer is the shareholder of both companies. Plug and Play is a shareholder in Axel Springer Plug and Play (hence the name 😉) and Porsche is a shareholder in APX.
At APX, our investment focus is digital, user-centric business models. Just as ASPnP used to do, we support companies. And we invest more than just capital. Money is one dimension, while our network of investors, mentors, experts, and shareholders prove even more valuable to portfolio companies.
Since starting APX in March 2018, we’ve invested in five companies and continue to do so. No more ‘batches’, as ASPnP used to have. With our new program and investor-ready approach, we offer 100 intense days to companies we invest in. They can then stay rent-free for another three months. After this, they have (hopefully) grown too big to stay any longer.
The APX team consists of team members from ASPnP and new people too, all of whom I’m super proud and happy to be working with.
If you fancy meeting us, come to one of our Tuesday Pitch Sessions, every week at 5PM.
As things have changed, we’ve also renovated our office. You’ll see we still spend more money on startups than expensive construction and furniture. Nevertheless, we still like our office!