Cherry Ventures, a Berlin-based venture capital firm, has closed a €150m fund to invest in early-stage tech startups across Europe.
Known as Cherry Ventures II, the fund will focus on innovative consumer tech startups and will be managed by Filip Dames, Daniel P. Glasner and Christian Meermann.
Glasner, founding partner at Cherry Ventures, said: “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 startups 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,” he added.
Investors in the new fund 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, Cheery Ventures has invested in more than twenty portfolio firms which have generated over €2bn of market capitalization.