Acton hires new associate Alvermann

Alvermann worked at the internet holdings arm of Holtzbrinck between 2008 and 2011, before he went freelance. He provided fundraising and business development consulting to internet start-ups and investors.

Based in Munich, Acton is a venture capital firm. Its second vehicle, Heureka II, held its first close on €80m in January 2014. Its target is €150m and, like its predecessor fund, will continue to focus on e-commerce, online marketplaces, e-services and digital media in Europe.

Earlier this month, Acton divested its minority stake in luxury online retailer Mytheresa for €150m in a trade sale to US retail company Neiman Marcus Group. It originally invested less than €25m in January 2010. It invested via its Heureka I fund, a €150m vehicle that closed in May 2010.

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