Cherry Ventures aims to unearth Europe's trillion-dollar tech company with new $500m fund
Funding | Feb 04, 2025 | UK Tech Funding
Cherry Ventures, a European venture capital firm, has launched a $500m fund aiming to discover and back Europe's first trillion-dollar technology company. In comparison to the US, which boasts multiple companies worth over a trillion dollars, Europe lags behind with its most valuable firms, LVMH and Novo Nordisk, valued under $400bn. Cherry Ventures sees potential in the European tech landscape comprising a burgeoning ecosystem of 35,000 startups and a workforce that has grown significantly since 2015. The fund, named Cherry V, will support early-stage companies up to Series B and beyond, with backing from former startup operators from companies like Spotify, Uber, and Zalando. Cherry Ventures emphasizes the importance of Europe taking leadership in global technology amid geopolitical changes.
Sectors
- Venture Capital
- Technology
- Finance
Geography
- Europe – Cherry Ventures is targeting technology investments within Europe to build the continent's first trillion-dollar company.
Industry
- Venture Capital – Cherry Ventures is a venture capital firm focused on investing in early-stage technology companies.
- Technology – The focus of the fund is to support technology companies with the aim of discovering a trillion-dollar tech giant.
- Finance – The article discusses the launch of a $500 million fund, highlighting financial investment strategies.
Financials
- 500 million – The total fund size launched by Cherry Ventures.
- 400 billion – The valuation of Europe's most valuable companies, mentioned for context.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cherry Ventures | Venture Capital Firm | Company | European VC firm launching a $500m fund to invest in early-stage tech companies. |
| LVMH | Comparison by Valuation | Company | One of Europe's most valuable companies, used as a benchmark for valuation. |
| Novo Nordisk | Comparison by Valuation | Company | A highly valued European company compared for context in valuation discussion. |
| Supercell | Portfolio Company | Company | A portfolio company of Cherry Ventures, involved in the fund backing. |
| Spotify | Participant Investors | Company | Former startup operators from Spotify are among the fund's backers. |
| Uber | Participant Investors | Company | Former startup operators from Uber are among the fund's backers. |
| Zalando | Participant Investors | Company | Former startup operators from Zalando are among the fund's backers. |
| Wolt | Portfolio Company | Company | A portfolio company of Cherry Ventures, involved in the fund backing. |
| Flix | Portfolio Company | Company | A portfolio company of Cherry Ventures, involved in the fund backing. |
| Ilkka Paananen | Founder of Portfolio Company | People | Founder of Supercell, part of the Cherry Ventures network. |
| Miki Kuusi | Founder of Portfolio Company | People | Founder of Wolt, part of the Cherry Ventures network. |
| Jochen Engert | Founder of Portfolio Company | People | Founder of Flix, part of the Cherry Ventures network. |