Point Nine closes second fund

Carmen Reichman
14 February 2013

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Berlin-based Point Nine Capital has closed its second early-stage venture fund, Point Nine Capital II, on €40m.

Point Nine is a business angels-backed venture capital firm that spun out of the Team Europe incubator in June 2011.

Investors
Point Nine Capital II received commitments from international private equity funds-of-funds like Horsley Bridge Partners and SAP Ventures, as well as European private funds and entrepreneurs. These include Arend Lars Iven and Ron Hillman of Berlin Venture Partners, Jan Beckers, Michael Ambros and Gunther Schmidt (founders of eKomi), the founders of Cube Investments from Spain, and RTA Ventures and Xevin from Poland. Pawel Chudzinski and Christoph Janz, as well as the founders of Team Europe, also invested in the fund.

Investments
The fund will focus exclusively on early-stage investments in internet-related companies, in fields such as software-as-a-service, e-commerce, marketplaces and mobile apps. It has already invested in Brainly, ePetWorld, Kreditech, Positionly, Shiftplanning and Vend. The fund will focus on the European market and consider investing outside of Europe.

People
Point Nine is led by Pawel Chudzinski and Christoph Janz. Lukasz Gadowski and Kolja Hebenstreit of Team Europe will be leaving the VC's investment committee as part of the closing of the new fund.