Lakestar
Lakestar is a European venture capital firm, founded in 2012 by Klaus Hommels, that backs technology companies from seed to growth. Best known for early bets like Spotify and Revolut, it is a generalist, not a water specialist: (don't) Waste Water rates its water commitment Occasional, with just one water company, the satellite startup constellr, as of 2026.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
Lakestar is one of Europe's best-known technology investors, and that is exactly why a water page has to open with a caveat: Lakestar is a generalist, not a water fund. Founded in Zurich in 2012 by Klaus Hommels, an early backer of Spotify, Skype and Revolut, Lakestar writes cheques from seed (a company's first outside money) right through to growth rounds, across fintech, health, consumer and deep tech. Water has never been its headline.
Lakestar only really touches water through the back door of deep tech. Its one water holding is constellr, a space startup that measures how much water crops drink, from orbit: thermal-infrared microsatellites that read land-surface temperature to track crop water stress and help protect the food supply. Lakestar backed constellr at seed stage, the sort of bet that lands in a water database almost by accident, because the company happens to point its satellites at the planet's water.
Lakestar's honest scorecard on water is therefore a thin one: (don't) Waste Water rates its water commitment Occasional, on the strength of a single company across two deals. The more interesting question is where the firm is heading. Lakestar's gravity is shifting toward deep tech, space and European resilience, the same neighbourhood constellr came from, so if a genuine water thesis ever lands here it will probably arrive wearing a satellite or a sensor, not a treatment plant.
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 Lakestar invest in?
- Lakestar invests in technology companies across Europe, from seed to growth stage, in fields like fintech, health, consumer, space and deep tech. It has backed names such as Spotify, Revolut and Isar Aerospace. Water is not a focus: Lakestar holds a single water company as of 2026.
- Does Lakestar invest in water?
- Lakestar is a generalist technology investor, not a water fund. (don't) Waste Water rates its water commitment Occasional, reflecting one water company, the satellite crop-monitoring startup constellr, across two deals. Any water exposure comes through Lakestar's deep-tech and space bets rather than a dedicated water thesis.
- Who runs Lakestar?
- Lakestar was founded in 2012 by Klaus Hommels, who chairs the firm and remains its public face. Day-to-day investing is led by managing partners including Stephen Nundy, who heads deep-tech investing, and Mika Salmi, alongside partners such as Christoph Schuh.
- Where is Lakestar based?
- Lakestar is headquartered in Zurich, Switzerland, where it was founded in 2012, and also runs offices in London and Berlin. The firm invests across Europe and beyond with a team of more than 50 people, backing technology companies from their earliest rounds through to growth.
- How many water deals has Lakestar done?
- As of 2026, Lakestar has backed one water company, constellr, across two funding deals, and has led around half of the rounds it joins. constellr builds satellites that monitor crop water use from orbit. (don't) Waste Water rates Lakestar's water commitment Occasional.