Cherry Ventures Raises $500M with Aims to Seed Next European Tech Unicorn

Cherry Ventures said it secured $500M in total capital commitments across two funds in support of its goal to seed the first trillion-dollar company in Europe.

In a letter addressed to founders dated February 4, the Germany-based early-stage venture capital firm unveiled the Cherry V strategy, comprising a flagship early-stage fund and a companion opportunity fund. The European investor said the funds will target opportunities in series B financings and beyond.

Cherry Ventures said the strategy is its contribution to the revival of European tech amid the current narrative that the sector is "all doom and gloom." Together with the new funds, it also started a call for a change in the culture of innovation in the region.

The firm is looking to support developers of revolutionary technologies with the potential to make a global impact. The company boasts support from investors that have been involved in the establishment of companies including Zalando, Spotify and Uber. So far, its portfolio comprises more than 130 companies, including FlixBus, Auto1, Forto, Tacto, Qualifyze, Juni, Moss and Carbo Culture.

Written By: Dakota

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