Rocket Internet Fund Raises $420 Million for Startup Investments
- Fund gets cash from U.S., European long-term investors
- CEO Samwer sees competitive upside for Rocket, investors
Rocket Internet CEO Oliver Samwer.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Rocket Internet SE raised $420 million in a new fund to invest in European Internet companies at a time when it has come under increasing pressure to reduce losses and as startups’ access to capital may become tighter.
Rocket contributed $50 million and the company shareholders will recoup as much as 25 percent of the returns, provided investors in the fund reach at least 8 percent in annual returns, the Berlin-based company said Tuesday in an e-mailed presentation. European and U.S. investors seeking to back startups Rocket believes in have joined the fund, the Berlin-based company said.