How one venture firm is investing in an increasingly fragmented world
Geopolitical turmoil has made venture investing challenging, leading Kompas VC to carve out a niche in startups focused on the physical world.
The world today is riven by cultural differences, political divisions, and geopolitical disputes — a challenging environment for any investor hunting for startups that can grow large enough to deliver venture-scale returns.
Kompas VC has developed a regionally sensitive strategy to help it navigate, and invest in, this fragmented world. And it’s putting fresh capital towards this approach with a new €160 million fund ($187.5 million), the firm told TechCrunch.
“We see the world really falling into three main spheres of economic activity, of political activity — the U.S., Europe, and China,” Sebastian Peck, partner at Kompas VC , told TechCrunch. “We certainly see today that these three domains follow very, very different trajectories.”
Kompas has staked its reputation on backing startups that tackle core industrial competitiveness challenges, from manufacturing and supply chains to critical infrastructure and sustainability. Those themes haven’t disappeared, but different regions emphasize them to varying degrees.
“There was a lot of enthusiasm around these themes back in 2021,” Peck said. “In 2026, we’re in a very, very different paradigm. It’s all about AI, it’s all about fast growth, very explosive growth. A lot of big topics that we partially play to but also are not really part of what we stand for.”
“Our focus is in the physical world, anything around producing physical goods,” he added, saying that Kompas focuses on startups working on decarbonization, productivity, and risk management. “We’ve found our niche.”