Digital+ Partners holds final close on €350m

The vehicle was launched in August 2016 with a €300m target and held a first close on €131.5m in February 2017.

It will target what it sees as a “funding gap” for mature Germany technology companies with a maximum ticket size of €50m per company.

DACH-based VC fundraising is at full throttle this year after Berlin-based Rocket Internet launched the successor to its €1bn Rocket Internet Capital Partners I and Zurich-based Lakestar launched a double fundraise with a combined €800m target, representing a 128% increase on Lakestar II.

This growth is in line with fund-size increases in the asset class across the DACH region. Between 2008-2017, the average VC fund size more than tripled from €82m in 2008 to €249m in 2017, according to Unquote Data.

Investors
The fund's LPs include institutional investors and technology companies as well as technology-oriented family offices in Germany, Europe, the US and Asia, according to a statement.

The EIF has backed the fund, as did the state-owned KfW bank.

Investments
The fund invests in German technology companies that operate in the B2B segment. Specific examples of technologies targeted include internet-of-things, data analytics and artificial intelligence. It has a maximum investment size of €50m per company.

The fund has already deployed €60m across six investments: Starmind, Riskmethods, NavVis, Movingimage, Orderbird and Cellcontrol.  

People
Digital+ Partners – Patrick Beitel, Thomas Jetter, Axel Krieger, Dirk Schmuecking (managing directors).

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