Led by Fabian and Ferry Heilemann, the Heilemann team will back up the German Earlybird digital tech team, for their part led by co-founders Hendrik Brandis and Christian Nagel and will jointly launch a new Earlybird Digital West Fund, which aims to raise €150m.
Following Earlybird’s previous strategy, the new Digital West Fund will focus on digital business models suitable for a global roll-out, as proven by last year’s exits of 6Wunderkinder and Carpooling.
The two teams have already cooperated for several years, e.g. on last year’s co-investments in Movinga and Cashboard. With offices in Berlin, Munich and Istanbul and more than €700m under management, Earlybird is one of the largest and most active venture capital providers in Europe – having made a total of 111 investments, 6 IPOs and 16 trade sales so far.
Founded in 2011, Heilemann has managed two venture funds which have invested in 26 companies since 2011, of which 6 have been sold so far.