Amathaon Capital
Amathaon Capital is a Munich-based venture capital firm, founded in 2020, that backs early-stage AgTech and AgBioTech startups. It is not a water fund: its one tracked water bet is constellr, a German satellite company whose thermal cameras measure crop water stress from orbit. As of 2026, (don't) Waste Water rates its water commitment Occasional.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
Amathaon Capital is a Munich agriculture fund built on a simple idea: farming is, at its core, a bet, a wager on soil, weather, seed and a dozen factors a grower barely controls. Founded in 2020 by Borris Förster and Dr. Tobias Schönhaar, the firm writes early cheques into the technology it thinks shifts those odds back toward the farmer, from seed genetics and crop microbiomes to farm robotics and computational agriculture. Its pitch is agriculture, and water only rides along inside it.
Amathaon Capital shows up in my water data for exactly one company: constellr. The German space startup flies thermal-infrared microsatellites that read land-surface temperature from orbit, and temperature is a proxy for evapotranspiration, the water a crop actually breathes out. In plain terms, constellr measures crop water stress from space and tells a grower which corner of a field is going thirsty before the leaves ever show it. Its first HiVE satellite reached orbit in January 2025 with backing from the European Space Agency.
That single bet is the whole of Amathaon Capital's water story, and it is why (don't) Waste Water rates the firm Occasional: one water-relevant company across two early rounds, with none of them led. Amathaon Capital backed constellr next to space and deep-tech names like OHB, Seraphim and In-Q-Tel, the kind of backers that gather around a satellite company, not a water one. The water exposure is a by-product of an agriculture thesis, not a strategy of its own.
Amathaon Capital matters for water less as a water investor than as a reminder that the cheapest way to save a field of water might be a camera in space. A fund built to make farming a smarter bet ended up funding the instrument that shows growers where every drop is going. For now that stays one good satellite, not a water portfolio, and this page tracks it as exactly that.
Water Commitment Score
Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.
How they invest
Portfolio · 1 water companies
Invests alongside
Highlighted = profiled on (don't) Waste Water.
Frequently asked
- What does Amathaon Capital invest in?
- Amathaon Capital invests in early-stage AgTech and AgBioTech startups across the food and farming value chain, from seed genetics, crop microbiomes and biological fertilizers to farm robotics, sensing and agricultural software. Amathaon Capital is an agriculture specialist, not a water fund; its only water-relevant holding is constellr, a crop-monitoring satellite company.
- Is Amathaon Capital a water fund?
- No. Amathaon Capital is a Munich-based agriculture and food-technology venture firm, and (don't) Waste Water rates its water commitment Occasional. Amathaon Capital has backed one water-relevant company, constellr, whose thermal satellites track crop water stress, but water is a by-product of its farming thesis rather than a stated focus.
- What water company has Amathaon Capital backed?
- Amathaon Capital has backed one tracked water-relevant company, constellr. Based in Germany, constellr operates thermal-infrared microsatellites that measure land-surface temperature and evapotranspiration, effectively reading from orbit how much water crops use. Amathaon Capital invested across two early rounds and did not lead either, its single entry into water through an agriculture lens.
- Who runs Amathaon Capital?
- Amathaon Capital was founded in 2020 by Borris Förster and Dr. Tobias Schönhaar, who run it as Co-Founders and Managing Partners from Munich. Förster, a former BASF executive, leads investment strategy; Schönhaar, also a venture-capital lawyer, handles deal execution and legal. The firm focuses on early-stage agriculture technology across Europe.
- Where is Amathaon Capital based?
- Amathaon Capital is headquartered in Munich, Germany, with a second presence in Brussels, Belgium, and invests in agriculture-technology startups across Europe. Founded in 2020, the firm backs early-stage AgTech and AgBioTech companies, and its single water-relevant investment, the satellite startup constellr, is also rooted in Germany.