Team Europe’s ‘Angel VC’ Point Nine Launches €40m Fund

By David Knight |

Berlin-based VC Point Nine Capital has raised a new €40 million fund which will focus on early-stage investments. Dubbed Point Nine Capital II, it will be active in the software as a service (SaaS), e-commerce, marketplace and mobile spaces.

Point Nine was founded in 2011 as a spin-off of Team Europe’s investment arm – which included Madvertise, Delivery Hero and Zendesk in its portfolio – and is led by Pawel Chudzinski and Christoph Janz. It has since invested in companies such as Brainly, Kreditech and DocPlanner.

The new fund will look beyond Berlin to the rest of Europe and beyond. Its investors include Horsley Bridge Partners and SAP Ventures as well as a raft of private funds and entrepreneurs, such as Jan Beckers of HitFox.

Christoph Janz began his entrepreneurial career back in 1997 when he co-founded comparison shopping engine DealPilot. He said: “Our tagline has always been ‘The Angel VC’. The new fund allows us to combine our founder-friendly no-nonsense ‘angel investor’ approach with the ability to provide much stronger financial support.”

The launch of the fund comes a day after a new early-stage VC, Capnamic Ventures, was announced and will be welcome news in Berlin where many startups will be facing make-or-break time in 2013 and wil be desperate for new sources of funding.