Oliver Schmäschke, managing partner at T.Capital, is one of the 100 leading corporate venturing professionals in our 2026 Powerlist.
Oliver Schmäschke is a founding member of Deutsche Telekom’s investment activities, which since 2015 have evolved into DTCP (€4.5 bn AUM), a financial investment platform backed by Deutsche Telekom, and T.Capital, Deutsche Telekom’s strategic investment arm.
T.Capital manages approximately €2.3bn in assets across two complementary vehicles – T.Capital Ventures (€1m-€15m ticket sizes) and T.Capital Tech Fund (€50m-€300m ticket sizes). Core investment verticals include AI, cloud, cybersecurity, connectivity and consumer.
T.Capital has built one of Europe’s most consequential AI portfolios. Recent investments include ElevenLabs, Black Forest Labs, n8n, Lovable, Perplexity, Decagon and Nscale. The portfolio also extends into dual-use technology through Quantum Systems, enterprise software through Dash0 and Device-as-a-Service through Everphone.
These investments have led to strong commercial partnerships with Deutsche Telekom alongside strong financial returns. Examples include the Magenta AI Call Assistant developed with ElevenLabs, TCreate in partnership with Black Forest Labs and the Device-as-a-Service offering for Deutsche Telekom business customers delivered together with Everphone.
“I believe in a clear mandate,” says Schmäschke. “We invest to be the best strategic partner to our portfolio companies while delivering strategic and commercial value to Deutsche Telekom. That, in turn, gives us access to the best companies globally, with strong financial returns as a natural consequence.”
The operating model follows the mandate: the investment team is paired with a dedicated value creation team embedded within Deutsche Telekom, formalising partnership facilitation, procurement and pilot acceleration as a core structural capability.
An engineer by training and former first-division volleyball player, Schmäschke began his career in management consulting at BCG in 2011. He joined Deutsche Telekom in 2013, where he worked closely with senior leadership on the launch of DTCP in 2015. He later served as COO for DTCP and T.Capital before taking over as managing partner at T.Capital in 2025.
The GCV Powerlist represents the 100 individuals spearheading the future of the corporate venturing industry.
These individuals excel in terms of their venturing approach and structure, number and quality of portfolio companies and in their contributions to the corporate venturing profession.
Here’s a snapshot of their recent deals:
