Munich and Berlin, Germany-based venture capital firm HV Holtzbrinck Ventures has closed its seventh fund, at €306m.
Almost entirely (over)subscribed by existing investors, the fund was the largest vehicle since the venture capital firm’s launch.
The new fund will make early investments in young businesses at seed and series A stages. The main part of the the fund will then go into follow-on investments and selected growth investments at later stages.
First-round investments are between €500k and €5m, while follow-on and growth investments can reach amounts of up to €40m.
HV Holtzbrinck Ventures additionally plans to support more startups’ business development at even earlier stages going forward via a new seed program.
Led by General Partners Martin Weber and Rainer Maerkle, HV Holtzbrinck Ventures has been investing in internet and technology companies for more than 17 years across several funds which have financed over 160 companies, such as the Zalando, Delivery Hero, FlixBus and Scalable Capital. With the closing of this latest vehicle, funds managed by HV Holtzbrinck Ventures surpassed €1 billion assets under management.
The firm has also named two new partners: Barbod Namini and Jan Miczaika.