DGAP-News: Cherry Ventures Management GmbH / Key word(s): Funds/Private Equity
Cherry Ventures closes early stage fund with a volume of EUR 150 million
- Fund invests exclusively in seed and early stage financing rounds in Europe, particularly in the start-up hub Berlin
- Focus on innovative consumer technology start-ups
- Investors include Haniel, ProSiebenSat.1, the European Investment Fund (EIF), as well as other institutional funds and a number of successful internet entrepreneurs
Berlin, 11 May 2016 - Cherry Ventures, the Berlin-based venture capital fund created by entrepreneurs for entrepreneurs, has today closed its second fund, Cherry Ventures II, with a volume of approximately EUR 150 million.
Cherry Ventures is run by Filip Dames, Daniel P. Glasner and Christian Meermann, each of whom has gained extensive entrepreneurial experience with start-ups including Zalando, Citydeal/Groupon and Quandoo. Aside from capital, Cherry Ventures provides its portfolio companies with operational expertise and access to one of the strongest founder networks in Europe.
Cherry Ventures II is one of the few venture capital funds to support and invest in the crucial initial phases of a company's development. Cherry Ventures II will appeal primarily to founders of young and disruptive companies, which have the potential to sustainably change the life of consumers worldwide. The fund's focus is on European start-ups in the consumer technology and B2C sectors.
Daniel P. Glasner, founding partner at Cherry Ventures says: "We are very pleased with the trust our investors have put in us. We are convinced that the coming years will see a number of new technology start-ups in Europe and Berlin, with the potential to become global leaders. Cherry Ventures II enables us to invest in and support the entrepreneurs who are founding the market leaders of tomorrow from a very early stage."
Investors in Cherry Ventures II include a number of successful internet entrepreneurs, family equity businesses (e.g. Haniel) and institutional funds such as the European Investment Fund (EIF), as well as pension funds and The ProSiebenSat.1 Group.
Over the last three years, Cherry Ventures has invested in more than twenty portfolio companies which have generated over EUR 2 billion of market capitalization. The investments of Cherry Ventures Fund I include Auto1 Group, Flixbus, Lesara and Quandoo.
About Cherry Ventures