CommerzVentures Closes €300M Third Fund

CommerzVentures

CommerzVentures, a Frankfurt, Germany-based specialist fintech investor, closed its third fund, at €300m.

The fund, which noticed Commerzbank return as the only LP, brings their mixed complete fund measurement to €550m.

Led by companions Heiko Schwender and Paul Morgenthaler, the automobile will go in direction of supporting early and growth-stage firms within the fintech and insurtech sectors, in addition to the rising Local weather FinTech house.

The third fund follows on from their first €100m fund, launched in 2014, and their second €150m fund in 2019, in addition to investments in 28 firms up to now. Persevering with their technique of concentrating on founder groups with the ambition to unravel billion-dollar issues, CommerzVentures proceed to take a position with a worldwide outlook, specializing in Europe, Israel and the USA.

The launch of Fund III will see the agency develop their headcount by 50%, enabling them to strengthen their place in fintech globally, and set up a foothold in new geographies, notably Africa. This follows CommerzVentures’ current participation in MFS Africa’s $100m Collection C and need to help founders within the area’s vibrant fintech market.

The agency has already backed unicorns akin to Purchased By Many, Mambu, eToro and Marqeta and has a robust presence inside Local weather FinTech, with current investments together with ClimateView and Doconomy. Different notable investments inside fintech and insurtech embody Afilio, ByMiles, GetSafe and iwoca. Portfolio firm Marqeta IPOed on Nasdaq, whereas Curv and Payworks had been acquired by Paypal and Visa, respectively.

 

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