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Nenad Marovac

Founder & Managing Partner

DN Capital

London, UK

Nenad Marovac

Breaking Wave Group

Nenad Marovac’s Biography

Nenad Marovac is Founder and Managing Partner of DN Capital, an early-stage venture capital firm focused on European and US technology companies. Through DN Capital, he has built a strong presence across venture capital markets in Germany and the wider DACH region, with investments in leading German technology businesses including AUTO1 Group, HomeToGo, Mister Spex, Quandoo, Tourlane and Numa.

Born in Croatia and raised in San Diego, California, Nenad began his career with Bankers Trust in New York before moving to Berlin in 1991. Working with the Treuhand during German reunification, he advised on projects integrating the economies of East and West Germany, establishing long-standing ties to Germany’s business and investment communities.

Nenad later attended Harvard Business School, where he met future DN Capital partner, Steve Schlenker. After graduating, he returned to Europe and joined Advent International in London, focusing on technology, media and telecommunications investments. He became a Partner at Advent at the age of 32 before founding DN Capital in 2000.

Under Nenad’s... Nenad Marovac is Founder and Managing Partner of DN Capital, an early-stage venture capital firm focused on European and US technology companies. Through DN Capital, he has built a strong presence across venture capital markets in Germany and the wider DACH region, with investments in leading German technology businesses including AUTO1 Group, HomeToGo, Mister Spex, Quandoo, Tourlane and Numa.

Born in Croatia and raised in San Diego, California, Nenad began his career with Bankers Trust in New York before moving to Berlin in 1991. Working with the Treuhand during German reunification, he advised on projects integrating the economies of East and West Germany, establishing long-standing ties to Germany’s business and investment communities.

Nenad later attended Harvard Business School, where he met future DN Capital partner, Steve Schlenker. After graduating, he returned to Europe and joined Advent International in London, focusing on technology, media and telecommunications investments. He became a Partner at Advent at the age of 32 before founding DN Capital in 2000.

Under Nenad’s leadership, DN Capital became an early investor in European technology startups across digital marketplaces, fintech, consumer internet and SaaS. The firm’s investments span European and US technology companies including Shazam, Endeca, AUTO1 Group, HomeToGo and Mister Spex, several of which achieved major international growth, IPOs and high-value exits.

Nenad was recognised on the prestigious Forbes Midas Europe List in 2021 and 2022 and received the Investor of the Year award at the Investor Allstars Awards in 2016. He is a past Chair of Invest Europe and chaired the association’s Venture Council from 2015 to 2018. He serves on the boards of several DN Capital portfolio companies and is co-founder of The DN Capital Foundation alongside Steve Schlenker. READ MORE VIEW LESS

Nenad Marovac’s Newsfeed

TFN

Expert talk: How Europe’s policy landscape shapes EdTech investment

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Sifted

Cognigy sells for almost $1bn in Europe’s biggest AI acquisition yet

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Nenad Marovac’s Background

DN Capital

Founder & Managing Partner

2000 - Present

London, UK

DN Capital is an international venture capital firm with offices in London, Berlin and San Francisco, including a dedicated German presence through DN Capital (Germany) GmbH in Berlin. The firm has backed a number of German and Germany-linked technology companies across sectors including digital marketplaces, SaaS, fintech and consumer internet.

Advent International

Partner

Jun 1995 - Jun 2000

London, UK

Advent International is a private equity firm focusing on company buyouts primarily in Western and Central Europe, North America, Latin America, and Asia. Founded in 1984, it has invested $56 billion in over 375 transactions across 42 countries. Headquartered in Boston, Advent operates from 14 offices in 11 countries and employs over 240 investment professionals.

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Nenad Marovac’s Gallery

Other Business Interests

Invest Europe

Chair

2018 - 2019

London, UK

Invest Europe, formerly known as the European Private Equity and Venture Capital Association (EVCA), represents Europe's private equity, venture capital, and infrastructure sectors, promoting industry standards and research.

Invest Europe

Chair of Venture Council

2015 - 2018

London, UK

Current Board Positions

Numa

Investor & Board Member

Feb 2022 - Present

Berlin, DE

Numa is a Berlin-based hospitality tech company that provides users with everything they need to live like a local, enjoy a weekend getaway, or experience an elevated business trip.

GoStudent

Investor & Board Member

May 2020 - Present

Vienna, AT

GoStudent is a global leader in tutoring services, offering a platform and services for a hybrid education format. It provides students with an Education Advisor that helps them build a customized lesson package tailored to their long-term learning needs.

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Previous Board Positions

AUTO1 Group

Investor & Board Member

2013 - Jun 2020

Berlin, DE

Headquartered in Berlin, AUTO1 Group is Europe’s leading digital automotive platform for the sale and purchase of used cars. In 2021 AUTO1 went public on the Frankfurt Stock Exchange at a valuation of $12 billion, a 25x return on DN Capital's investment.

HomeToGo

Investor & Non-Executive Director

Feb 2016 - May 2020

Berlin, DE

HomeToGo is an online marketplace with the world's largest selection of vacation homes. Its platform uses a range of data to help individuals find the perfect accommodation for any holiday. In 2021 HomeToGo announced a $1.4 billion merger with Lakestar and went public on the Frankfurt Stock Exchange in September that year.

Mister Spex

Investor & Supervisory Board Member

2010 - 2020

Berlin, DE

One of Germany’s leading optical retailers, Mister Spex provides customers with access to a vast selection of over 100 premium and luxury brands, independent labels and private labels. Mister Spex went public on the Frankfurt Stock Exchange in July 2021.

Shazam

Investor & Non-Executive Director

2004 - Sep 2018

London, UK

Shazam gives users the opportunity to discover the music they hear around them. Its recognition technology can provide users with song titles, bands/artists and more. DN Capital was an early investor in the company which was sold to Apple Inc for $400 million in 2017.

Quandoo

Investor & Supervisory Board Member

2014 - 2015

Berlin, DE

Founded in Berlin in 2012, Quandoo is an online restaurant reservation platform that connects diners with restaurants across more than 20 countries. The company was acquired by Japan's Recruit Holdings in 2015 in a deal valued at approximately $219 million.

Purplebricks

Investor & Non-Executive Director

2013 - 2015

London, UK

Purplebricks was an estate agency that offered people an easy-to-navigate online platform combined with the real estate knowledge of local property agents. Purplebricks went public on the London Stock Exchange in December 2015.

OLX Group

Investor & Non-Executive Director

2006 - 2011

OLX Group is a global online marketplace network, facilitating the buying and selling of goods and services, from electronics to real estate. In 2011 OLX was sold to South African media group, Naspers.

Datanomic

Investor & Non-Executive Director

2006 - 2011

Cambridge, UK

Datanomic offers data integration and management software solutions, specialising in data quality, risk compliance screening, and customer data management for businesses seeking efficient and accurate data handling. The company was sold to Oracle in 2011.

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Philanthropy

The DN Capital Foundation

Co-Founder

2023 - Present

London, UK

Nenad is the co-founder of The DN Capital Foundation, a charity that provides grants to organisations that help educate economically disadvantaged young people. It also funds charities that support the mental well-being of children and young adults.

Media

The Red Chair Podcast: Nenad Marovac

Podcast Interview

Jun 2025

In this edition of the Red Chair podcast, Nenad Marovac shares insights into the tech and media landscape, what he looks for in a winning company, and his journey from Harvard Business School to the Midas List.

Launch Stories: The Global Startup Podcast

Podcast Interview

Apr 2022

In this episode of Launch Stories, Nenad talks to Zoltan Vardy about the one key skill that leads founders from idea to IPO.

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Interviews

FinSMEs: Interview With DN Capital Founder, Nenad Marovac

Interviewee

Dec 2016

Nenad spoke to FinSMEs about DN Capital and its strategy, as well as trends in the tech world.

Thought Leadership

Insights from Nenad Marovac

Click on the link to view Nenad Marovac's blog posts.

Super apps: What’s in a name?

Blog article

May 2024

In this blog article for Finextra, Nenad discusses the concept of the ‘super app’ with his colleagues at DN Capital.

Memberships

YPO

Member

Nenad is an active member of the Young Presidents' Organization (YPO), a global network of young chief executives, fostering leadership through peer learning and the exchange of ideas.

Awards & Recognition

Forbes: The Midas List Europe 2022

Ranked #25, Top Tech Investor

2022

Forbes: The Midas List Europe 2021

Ranked #21

2021

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Speaking Engagements

"What does it take to build a really big company?"

Video

Sep 2017

Berlin, DE

As part of Startupnight 2017, Nenad Marovac took part in a panel discussion of what it takes to build a really big company. Click on the link to see video footage of the event.

Press Releases

Insights & Updates

Click on the DN Capital logo to access the company's news and insights.

Portfolio News

Click on the DN Capital logo to access the latest news relating to DN's portfolio companies.

Nenad Marovac’s Education

Harvard Business School

Master of Business Administration (MBA)

1993 - 1995

San Diego State University

BSc. in Business Administration with Distinction in Finance