Rocket Internet launches growth fund

With the new vehicle, Rocket aims to be less dependent on outside investors during the funding rounds of its startups. The vehicle has a lifespan of nine years, with an option to extend by two years. The fund's target is $500m, which Rocket hopes to raise with the help of placement agent Goldman Sachs. A potential date for the final close was not disclosed.

For Rocket Internet, the fund is an alternative way to raise capital for its businesses. Since Rocket's stock market entry in October 2014, its shares have plummeted. Having listed at €42.50, share price went down to around €23 in January 2016. 

Hello Fresh, which was also built up by Rocket Internet, had to delay its IPO in November last year, blaming difficult market conditions. 

Investors
Rocket Internet itself provided $50m for the vehicle, while pension funds, insurers, asset managers, funds-of-funds, foundations and wealthy individuals provided the rest.

Investments
The fund will provide capital for funding rounds of Rocket Internet startups.

People
Rocket Internet – Oliver Samwer (CEO).

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