Cherry Ventures holds final close for €150m second fund

Cherry's team kicked off fundraising in Q3 2015 and held the first closing in January. Legal advice came from Bonn-based Flick Gocke Schaumburg. No placement agent was involved. The fund's lifespan is 10 years and is domiciled in Germany. 

The VC's first vehicle reached final close in 2012 and has invested in more than 20 startups. With an undisclosed size, it was funded through the founders and their network and is now fully invested. Its portfolio included Auto1 Group, Flixbus, Lesara and Quandoo.

Investments
The fund will invest in seed and early-stage rounds in Europe, with a special focus on Berlin-based startups, and a sector-focus on consumer technology and B2C firms.

Cherry Ventures II invested in eight startups so far: Watchmaster, Joblist, Save, Move24, Flaschenpost, Smacc, Caroobi and Spryker. 

Investors
Among the investors in the fund are ProSiebenSat.1, European Investment Fund, pension funds and family office Haniel, as well as other institutional investors and business angels. European LPs account for the vast majority. 

People
Cherry Ventures – Filip Dames, Daniel Glasner, Christian Meermann (founding partners).

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