Europe’s largest early stage and growth capital fund focuses on the Internet sector.
German startup investment company Rocket Internet has closed a new $1bn venture fund to invest across all stages of startups.
Dubbed Rocket Internet Capital Partners (RICP), the fund will focus on generating better returns for investors by investing in Internet related businesses.
Goldman Sachs International acted as placement agent for the RICP, which is claimed to be Europe’s largest early stage and growth capital fund focused on the Internet sector.
The fund uses Rocket Internet’s sector know-how, regional and operational expertise as well as its vast network, worldwide reach and access to portfolio firms.
The RICP, which has access to significant financial capital, provides funding over the lifecycle of high growth Internet businesses.
It aims to invest in key focus areas of the Internet sector such as marketplaces, e-commerce, financial technology, software and travel.
RICP secured support from a group of investors globally, including financial institutions, pension funds, asset managers, foundations and high net worth individuals. Rocket Internet has contributed 14% of the entire commitments.
Rocket Internet CEO Oliver Samwer said: “RICP having reached the hard cap of USD 1.0 billion shows the strong interest of leading investors, who share the enthusiasm for the attractive investment opportunity RICP presents.”
Rocket Internet builds and invests in Internet companies that adopt proven online business models to new, fast-growing markets.
Founded in 2007 by Oliver, Alexander and Marc Samwer, the investing firm has established several e-commerce and online marketplaces ranging from taxis to meal deliveries.
Its network of companies conducts business in several countries globally with over 36,000 employees at the end of 2015.
Last month, Rocket Internet agreed to €85m financing round at HelloFresh at a €2bn valuation.
It intends to become the world’s largest Internet platform outside of the US and China.
A new investor, together with the existing shareholder Baillie-Gifford will contribute new capital in the aggregate amount of €85m.