CommerzVentures Closes €300M Third Fund


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

The fund, which saw Commerzbank return as the sole LP, brings their combined total fund size to €550m.

Led by partners Heiko Schwender and Paul Morgenthaler, the vehicle will go towards supporting early and growth-stage companies in the fintech and insurtech sectors, as well as the emerging Climate FinTech space.

The third fund follows on from their first €100m fund, launched in 2014, and their second €150m fund in 2019, as well as investments in 28 companies to date. Continuing their strategy of targeting founder teams with the ambition to solve billion dollar problems, CommerzVentures continue to invest with a global outlook, focusing on Europe, Israel and the USA. 

The launch of Fund III will see the firm grow their headcount by 50%, enabling them to strengthen their position in fintech globally, and establish a foothold in new geographies, notably Africa. This follows CommerzVentures’ recent participation in MFS Africa’s $100m Series C and desire to support founders in the region’s vibrant fintech market.

The firm has already backed unicorns such as Bought By Many, Mambu, eToro and Marqeta and has a strong presence within Climate FinTech, with recent investments including ClimateView and Doconomy. Other notable investments within fintech and insurtech include Afilio, ByMiles, GetSafe and iwoca. Portfolio company Marqeta IPOed on Nasdaq, while Curv and Payworks were acquired by Paypal and Visa, respectively.