Cherry Ventures based in London, Stockholm, and Berlin, has announced $500 million for its fifth early-stage fund. This move signals a commitment to building the first trillion-dollar company in Europe. In an open letter to the founders in Europe, the VC mentioned that it had raised the Cherry V fund to be the right kind of partner that will make European tech a global force.
Ambitious Cherry V fund
The fund, which was 2x oversubscribed, saw five partners, including founding partners Filip Dames and Christian Meermann, who were both part of the founding team at retail giant Zalando; former Spotify operator Sophia Bendz; former Uber exec Dinika Mahtani; and former founder Jasper Masemann. Cherry also has an operating partner, Alexander Langholz-Baikousis.
It is split into the flagship fund targeting early-stage startups and an opportunity fund focusing on the most promising portfolio companies at Series B and beyond.
Cherry V is a commitment to patience and persistence, enabling founders to create lasting value over time. As per the company, over 80% of our seed founders graduate to Series A.
Founders led by experience
Cherry Ventures was founded by Filip Dames, Christian Meermann, and Daniel P. Glasner. The early-stage VC firm focuses on European startups, particularly in fintech, SaaS, climate tech, and consumer businesses. The partners bring operational experience from Zalando and other high-growth companies.
Notable portfolio companies
Cherry Ventures has invested in a diverse range of European startups across various sectors. Here are some notable companies in their portfolio:
- Flink: An online platform delivering groceries in under 10 minutes at supermarket prices.
- Forto: A logistics and supply chain technology company offering scalable, digital logistics services.
- Robeauté: A Paris-based medtech startup developing neurosurgical microrobots for minimally invasive brain treatments.
- Planet A Foods: A company producing cocoa-free, lower-carbon chocolate alternatives.
- Luminovo: Simplifying and accelerating electronics design and manufacturing processes.
- Moss: A financial management platform and corporate credit card solution for companies to manage payments and cash flow.
In the open letter, Cherry Ventures stated: “Europe’s foundation is strong. We have 35,000 early-stage startups – more than any other region – and our tech workforce has grown 7x since 2015. We have all the right ingredients: world-class talent, research depth in critical technologies, and thriving tech hubs – but our culture of innovation must change. With new world leaders in power and strong mandates for the tech sector, Europe must take charge of its own destiny in the global tech race.”
The VC firm concluded: “If Europe is to build on its first wave of success stories to create the next, on a bigger scale – we all need to play our part. We must foster collaboration between policymakers, entrepreneurs, researchers, and investors to make Europe the best place in the world to build a tech company.”
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