June 4, 2015
It might seem, on some days, that the US is the only part of the world with hearty tech ecosystems. But that’s only because we live here and are constantly surrounded by news from the home front. In reality there are active and thriving tech ecosystems the world over.
To that end, the European VC firm Point Nine Capital recently announced a new, $60 million fund which they’ve called Point Nine Capital III. The new fund will focus specifically on seed and early Series A startups across both Europe and North America.
Point Nine Capital III will invest between $100,000 and $1.1 million across approximately 40 early stage startups while keeping reserves stocked for significant follow on funding. Like Point Nine Capital I and II, the third fund will focus primarily on startups in the areas of SaaS and digital marketplaces.
Investors in Point Nine Capital III include multiple international institutional funds such as Horsley Bridge Partners and Sapphire Ventures, both of which are existing investors in Point Nine Capital II as well.
“Point Nine’s combination of expertise in SaaS and online marketplace investing coupled with their international approach and very promising early results makes the fund a compelling investment for us,” says Beezer Clarkson, Managing Director of Sapphire Ventures.
Christoph Janz, the Managing Partner at Point Nine Capital, has already gotten off to a great start with the new fund. In total they’ve already invested in three different startups, bringing the total amount of money under management to $110 million to date.
“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,” says Janz.
The VC firm was founded in Berlin in 2011 and is known for housing an extensive network in Europe and the US. It’s actually helped support the expansion efforts of a number of their portfolio companies both into the US and across multiple European markets.
Additionally, Point Nine has a solid reputation of helping their portfolio companies attract follow-on funding from a wide range of international investors like Accel Partners, Bessemer Venture Partners, and Insight Venture Partners. In total, the portfolio companies have raised more than $1 billion – with a ‘B’ – in later stage funding.
“The team at Point Nine has been a great sparring partner for internationalisation, recruiting, and follow-on financing, ever since their initial investment in 2012”, said Mariusz Gralewski, CEO of DocPlanner, a Point Nine portfolio company. “We are now the biggest healthcare platform in Europe and we look forward to continuing to work with Point Nine to strengthen our position and expand further into new markets.”
We’ll be sure to keep you in the loop regarding any news coming out of future Point Nine Captial III investments.
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