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Cherry Ventures, the Berlin-based investor that backs European companies predominantly at seed-stage, has raised a third fund.
The new “Cherry Ventures III” has closed at €175 million and will continue to be focused on seed, although the firm has historically invested at pre-seed and Series A, too. It will remain fairly industry agnostic, backing promising founders and startups both in B2C and B2B.
Investments - Sectors - Marketplaces - Auto1 - Mobility
Existing investments span numerous sectors and include marketplaces (Auto1), mobility (Flixbus), travel (TourRadar), farming and the food chain (Infarm) and logistics (Freighthub), to name just a few. “We are a generalistic [sic] fund and invest across different industry verticals and business models,” explains Cherry Ventures co-founder Filip Dames.
To that end, Cherry says it will begin writing cheques out the new fund this month, ranging in size between €300,000 and €5 million, although it wants to remain “quite flexible” on that front. The firm is also steadfastly backing Europe, where it continues to see “exciting” opportunities.
Email - Q - A - Cherry - Co-founders
Below follows an email Q&A with Cherry co-founders founders Filip Dames and Christian Meermann where we discuss the new fund’s remit, why Cherry remains bullish on Europe, what “founder-centric” venture capital looks like, and of course Brexit!
TC: Cherry invests at pre-seed and seed stage (and occasionally Series A) across Europe. Can you be more specific regarding the size of cheque you write and the types of companies, technologies, business models or sectors you are focussing on?
CM - Sure - Seed - Stage - Deals
CM: Sure, first of all, seed is our core stage and what we love to invest in. Most of our deals in the last fund were at seed, including pre-seed deals where we backed successful serial entrepreneurs even before the start of their next venture. Cheque sizes vary between €300,000 and €5 million, we are quite flexible there.
FD: In terms of investment focus, we are a generalistic fund and invest...
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