Sometimes it is said that the European VC has no fire to compete with VC in the USA, which nowadays frequently raise funds worth a billion dollars. Perhaps further evidence of this view remain in the news that based on Berlin Cherry projects He closed his latest fund into $ 500 million to share between rounds at an early stage and subsequent rounds in the B series and later.
Cherry’s statement presented his ambitions. He wants to make use of this fund to assist build “First Trillion Bollar Company in Europe”. Thanks to this, it required the reversal of the narrative of “Holocaust and Darkness” about the European economy.
This is great, though evidence that European startups are currently on a trillion of dollars, stays thin on the ground. An example, if AI plays as a juggernaut, everyone says it’s going to be so, only a handful of the most capitulized firms in the field comes from this neck of the forest. Recent research has estimated that AI firms in Europe have collected about $ 8 billion $ 97 billion Raised in the United States for AI startups. Yes, it’s not just about money, but about how Cherry and other VC know, this capital is a key a part of the mix.
Cherry did not place the time axis for her aspirations.
In Great Britain, the largest startup market in Europe, the October financial capital financing for startups in Great Britain dropped by 50% in comparison with the previous quarter, because the startups secured only about $ 2.9 billion, in accordance with progressive banking and HSBC Innovation Banking report.
Cherry Ventures himself did not even appear in last yr’s Hec-Pop Jones Venture Capital result Classificationwith the highest title by Earlybird Digital East Fund.
Meanwhile, Balderton Capital, Balderton Capital, recently managed to lift $ 1.3 billion for European technological startups, while agreeing that Europe does not lose their AI boom.
The last Cherry Fund, announced at the starting of 2022, adopted EUR 300 million (USD 312 million). The VC portfolio includes the startup of space technology, the company Exploration Company, startup of Flink’s food supply, neurosirgical microbots company Robeaute, owner of Greyhound Flix SE and Logistics Unicorn Fort.
LP in a new fund inclined to entrepreneur Miki Kui Frome Wolt; Ilkka Paanens, Comive Executive or Supercel; and Jochen Engert Flix.
18 Cherry Ventures exit included the conversion of cows, nine and family.