Rocket Internet SE (Frankfurt Stock Exchange: ISIN DE000A12UKK6, rket), a Berlin, Germany-based Internet startup accelerator, held the first close of its Rocket Internet Capital Partners Fund, at $420m.
Rocket Internet committed $50m to the new fund along with institutional investors such as pension funds, asset managers, fund of funds, insurance companies, foundations as well as from individuals.
The vehicle aims to optimize the capital procurement process of the portfolio companies of Rocket Internet and will invest jointly with the Berlin-based company, giving investors access to investment opportunities in high-growth, Internet-based business models outside the US and China, as well as its investment expertise and operational platform.
Managed by Rocket Internet Capital Partners Lux S.à.rl., the fund won’t participate in strategic investments and startup financing of companies founded by Rocket Internet. It has a duration of at least nine years.