Next Matter × b2venture - Building Automated, Audit-Proof Investment Management Workflows at Scale

❓  About b2venture

b2venture is an early-stage venture capital firm, supported by an unparalleled community of angel investors.

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Spanning both the worlds of tech and industry, our network of angel investors helps us bring unique expertise, entrepreneurial experience, and hands-on support to our portfolio companies.

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We invest primarily in the pre-seed and seed stage with the ability to invest in later stages through our Direct Investments track.

When Sven Eppert, Partner & CFO at b2venture, talks about operational excellence, it is not theoretical. With €800 million in assets under management and more than 100 active portfolio companies, the firm operates one of Europe’s most established early-stage venture platforms. Founded out of the University of St. Gallen in 2000, b2venture invests in seed and pre-seed technology companies across Europe, supported by a network of more than 350 angel investors and multiple Luxembourg-based fund vehicles.

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As assets under management increased and regulatory expectations intensified, one thing became clear: investment governance needed to scale with the business.

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🎯  b2venture's challenge

By 2019, b2venture had reached a structural turning point. The organization was growing, its fund structures were becoming more complex, and its decision-making architecture spanned multiple jurisdictions. Investment professionals were based in Berlin, leadership operated out of Switzerland, and ultimate fund directors were located in Luxembourg. Each fund had its own approval routes, committees, and conditional requirements.

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Investment decisions like new deals and follow-ons for over 100 active portfolio companies created constant operational motion. The existing setup relied heavily on manual coordination: parallel email threads, manually initiated DocuSign requests, links inserted by hand, and individual follow-ups to ensure signatures were completed. It worked, but it was increasingly error-prone, time-consuming, and difficult to make audit-proof.

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As regulatory scrutiny increased, especially around governance and compliance, it became clear that circular email coordination was no longer sufficient for an institutional-grade investment platform.

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b2venture initially explored legacy business process management tools. However, many felt over engineered and rigid, designed for technical users rather than agile, business-led investment teams. User interfaces felt dated. Adapting workflows required unnecessary complexity.

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Next Matter offered something fundamentally different: a no-code, visually intuitive workflow engine that the investment team could own and adapt themselves.

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What stood out was not just the functionality, but the accessibility. An investment associate without technical training was able to translate existing BPMN charts into fully functioning digital workflows using a drag-and-drop interface. Conditional decision paths, automated notifications, and structured approval flows could be implemented quickly and tested in real time.

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Instead of outsourcing process logic to IT, the investment team retained full control.

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What impressed us most was how intuitive it was. An investment associate built our entire decision workflow, without technical training.

Sven Eppert, Partner & CFO at b2venture

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The first use case was the investment decision process itself. A master workflow was designed, capable of adapting to different funds and decision routes through conditional logic. Depending on the fund structure, approvals could automatically route to the appropriate investment committee, advisory board, or director level.

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The workflow setup integrated seamlessly into the existing technology stack. DocuSign integrations ensured that signature requests were triggered automatically. Slack notifications kept stakeholders informed. Executed documents were archived systematically. External partners, such as depositary banks in Luxembourg, could be notified seamlessly when required.

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What began as an investment committee solution quickly evolved into a full governance backbone.

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Over time, b2venture expanded Next Matter across the investment lifecycle: follow-on processes, exit procedures, capital calls and even the onboarding and vetting of new angel investors. NDA workflows were integrated end-to-end, including automated document storage and distribution.

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As service providers changed or regulatory requirements evolved, workflows could be adapted within minutes.

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Next Matter became embedded in how the firm operates.

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Next Matter turned our investment governance from coordinated emails into an institutional-grade system governance from coordinated emails into an institutional-grade system.

Sven Eppert, Partner & CFO at b2venture

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✅  The solution: audit-proof traceability and institutional-grade process integrity

Operational impact is measurable. Before automation, coordinating a single investment decision required hours of manual effort across email coordination, document routing, follow-ups, and error correction.

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With multiple deals per week (new investments and follow-ons), this equates conservatively to hundreds of hours saved annually in direct coordination time alone. When factoring in reduced error correction, automated document storage, faster signature turnaround, structured audit trails, onboarding workflows, and exit coordination, the achieved annual efficiency gains are even higher.

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At senior investment team cost levels, this translates into six-figure direct operational efficiency gains in that area of the fund alone.

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We execute multiple investment decisions per week. Automating coordination removed friction exactly where it mattered.

Sven Eppert, Partner & CFO at b2venture

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In addition to that stands the strategic value of reduced governance risk, improved audit readiness, and minimized compliance exposure. The real transformation was not merely efficiency. It was reliability.

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In venture capital, governance complexity increases with scale. Multiple funds, conditional approval routes, and cross-border directors create natural friction. Without structured workflows, the risk of inconsistencies grows. Next Matter provided b2venture with something critical: audit-proof traceability and institutional-grade process integrity.

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If the system were removed today, the fallback would be manual coordination via email and ad-hoc document management, a solution that would be slower, more error-prone, and increasingly incompatible with regulatory expectations.

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An easy-to-use, enterprise-grade workflow management solution adapting to every company’s processes.

Sven Eppert, Partner & CFO at b2venture

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After nearly six years of collaboration,Next Matter is part of the operating system at b2venture.

This result is no coincidence, Sven’s approach to technology leadership goes beyond efficiency. His ambition is to build one of the most innovative and institutionally robust venture capital platforms in the world, where operational excellence, compliance, and speed coexist seamlessly.

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The digital workflow backbone at b2venture is a direct reflection of that vision. With Daizy as its new parent company, bringing advanced agentic AI capabilities into the platform, the next frontier is clear: transforming b2venture’s investment operations from structured workflows into intelligent, self-optimizing systems.

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