Earlybird has finally closed its fourth fund valued at €150 million as it looks to further harness the energy coming out of Berlin’s tech scene. The VC firm, which relocated its HQ to the German capital last year, says the new early stage fund – originally dubbed Earlybird V – will focus on “disruptive global consumer Internet and enterprise technology companies originating from Europe.”
The total capital under Earlybird’s management now adds up to €650 million, with the latest fund reportedly oversubscribed – all key institutional limited partners from its previous fund are involved, as well as a small number of new investors.
Some ten investments have already been made from the new fund over the past 12 months, with a similar pace expected over the next two years. The fund will not be focused at one stage of startup development exclusively, but will instead see investments ranging from €300,000 to €10 million at stages from seed to Series B.
Earlybird’s portfolio now includes companies such as Traxpay, Wunderlist, Carpooling.com, The Football App, Versus IO and EyeEm.