Point Nine Capital, which claims to be the first internet-focused VC founded in Berlin, announced today that it has closed its 3rd fund worth €55 million. The Point Nine Capital III will be used to support mostly the early stage and Series A internet startups from across Europe and North America. With the addition of the new fund, the total VC capital run by PNC will be around €100 million.
The money will be invested in around 40 SaaS or digital marketplace startups across Europe and North America, with €100,000 to €1 million to be allocated for each of successful candidate and significant reserves to be kept in vaults for follow-on fundings.
Previous companies backed by Point Nine Capital and its partners, Christoph Janz and Pawel Chudzinski, include Zendesk, Westwing, Delivery Hero, Vend, Clio, Kreditech and Fyber.
Christoph Janz, Managing Partner at Point Nine Capital, said: “When we started Point Nine, our goal was to combine our founder-friendly no-nonsense ‘angel investor’ approach with the ability to provide much stronger financial support. We’re very happy with the results so far and are excited to continue our work with Fund III.”
Founded in Berlin in 2011, Point Nine Capital is known for its extensive network in Europe and the US that has secured strong backings from a wide range of international investors such as Accel Partners, Bessemer Venture Partners, Matrix Partners, General Catalyst and Insight Venture Partners. Point Nine’s portfolio companies have raised more than €1 billion in later-stage funding in total so far. Notable examples include Delivery Hero, Westwing, Kreditech, Helpling, DocPlanner and Vend.