# Raphael Budday

> Raphael Budday is a seed investor at Venture Stars (Munich) backing Water and Industrial. See 2 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Venture Stars](https://shizune.co/investors/profile/venture-stars)
- Location: Munich, Germany
- Total investments: 2
- Last investment: Mar 2026
- Lead investor: 100%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/rbudday/

Raphael Budday is a seed investor at Venture Stars in Munich focused on Water and Industrial. Raphael Budday

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Water | 1 | 50% |
| Industrial | 1 | 50% |
| Biomass Energy | 1 | 50% |
| Waste Management | 1 | 50% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| blue activity | Blue Activity GmbH is a CleanTech startup that specializes in sustainable industrial water treatment for evaporative cooling systems, replacing environmentally harmful chemical biocides with natural microorganisms and biopolymers. It provides a complete service package, including 100% sustainable products, real-time online monitoring via dashboard,and tailored on-site support for worry-free operations. | $9.8M | Seed | Mar 17, 2026 |  |
| VoiceLine | VoiceLine helps professionals by bringing voice collaboration to high performing teams. | $2.6M | Seed | Aug 13, 2024 |  |

2 of 2 investments shown.

## Co-investors
- [NAP](https://shizune.co/investors/profile/nap-vc) — VC Fund, 3 deals together
- [SCALEHOUSE Capital](https://shizune.co/investors/profile/scalehouse-capital) — VC Fund, 2 deals together
- [Angel Invest](https://shizune.co/investors/profile/angel-invest-ventures) — VC Fund, 1 deal together
- [Archimedes New Ventures](https://shizune.co/investors/profile/archimedes-new-ventures) — VC Fund, 1 deal together
- [NAP](https://shizune.co/investors/profile/cavalry-ventures) — VC Fund, 1 deal together
- [Egora Holding](https://shizune.co/investors/profile/egora-holding) — VC Fund, 1 deal together

## About Venture Stars

VC Fund · Munich, Germany

Venture Stars is a Munich based venture capital firm focused on early-stage investments in innovative, digital B2C and B2B business models.

5 contacts available at Venture Stars.

| Name | Title | Profile |
| --- | --- | --- |
| Florian Calmbach | Founding Partner | https://shizune.co/investors/profile/florian-calmbach |
| Martin Junker | Founding Partner | https://shizune.co/investors/profile/martin-junker |
| Erik Pfannmöller | Venture Partner | https://shizune.co/investors/profile/erik-pfannm%C3%B6ller |
| Raphael Budday | Investment Manager | https://shizune.co/investors/profile/raphael-budday |
| Stefan Pfannmoeller | Founder and CEO | https://shizune.co/investors/profile/stefan-pfannmoeller |

## Similar investors

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

## FAQ

### What does Raphael Budday invest in?

Raphael Budday invests primarily in Water, Industrial and Biomass Energy startups, most often at Seed stage. Most of the 2 investments tracked by Shizune back companies in Germany. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Raphael Budday last invest?

The most recent investment recorded for Raphael Budday closed in Mar 2026. Shizune tracks 2 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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