Digital+ Partners gears up for fundraise

The vehicle is domiciled in Luxembourg and was registered on 6 May 2021. A Germany-based vehicle was also registered in 2020.

The fund will have a 10-year lifecycle, beginning at its first close, according to the fund's key information document, which was issued in December 2020. The minimum commitment for retail investors will be €10,000 and the vehicle has a management fee of 2.5%, according to the same document.

The GP held a final close for Digital Growth Fund I in July 2018 on €350m, surpassing its €300m target. The vehicle targets later-stage growth companies based in Europe and the US, focusing on B2B technology businesses operating in sub-sectors including industrial and financial technology, as well as Internet of Things, data analytics and artificial intelligence.

Digital Growth Fund I provides equity tickets of €5-25m in initial rounds, with €20-30m available for further rounds. The fund has the option to invest up to €50m per company. The fund has an investment period of five years, according to Unquote Data.

LPs in Digital Growth I included KfW and the European Investment Fund, as well as a range of institutional and corporate investors from Europe, the US and Asia, according to Unquote Data.

Digital+ was founded in 2015 and has offices in Munich and Frankfurt. It is headed by founding partners Patrick Beitel, Thomas Jetter, Axel Krieger and Dirk Schmücking. The GP's current investments include pricing optimisation software Price f(x) and digital freight forwarding and logistics platform ZenCargo.

Digital+ had not responded to requests for comment at the time of publication.

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