Point Nine closes €75m venture fund

The vehicle was initially launched in Q4 2016 and has raised the majority of its commitments from existing investors. 

It will begin its investment phase in the next couple of months once PNC III is fully invested. The VC has not yet confirmed targets for the new fund but is said to have a strong pipeline. It has an unofficial target of 3x money, according to a source close to the situation. 

The fund's predecessor, PNC III, closed on €55m in June 2015. That was an increase on PNC II, which closed on €40m in February 2013.

PNC IV will be managed by Point Nine Capital from Berlin and is registered as a German company.

Investors
The fund has a total of between 20-30 LPs, a small number of which are larger institutional investors. The majority are German family offices and high-net-worth individuals. 

Horsley Bridge Partners, Sapphire Ventures, Flossbach von Storch and Vintage Investment Partners are known to have invested in previous Point Nine funds. 

Point Nine's management team has taken a "substantial" stake in its own vehicle.

Investments
Like its predecessor, the fund will invest in technology companies globally. It will invest 20-25% in North American companies, but the majority of its potential deals will come from Europe. It will make 35-40 investments in total with a ticket size of €1.5m for the initial investment. 

People
Point Nine Capital – Christoph Janz, Pawel Chuzinski (managing partners).

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