Earlybird Venture Capital, the aptly named pan-European early-stage VC firm based in Berlin, has raised $100 million for its fourth venture fund – only half of its target $200 million fund. The investment firm has now raised over $700 million since its founding in 1997, and has backed companies like Simfy, Socialbakers, Carpooling.com, madvertise, Peak Games and Crowdpark along the way.
Earlybird says its fourth fund will be dedicated to early-stage investments in global consumer and enterprise Internet and technology businesses originating from Europe, with an emphasis on German-speaking countries.
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Specifically, Earlybird is keeping a close eye on what goes on in its hometown of Berlin, which is quickly turning into one hell of an entrepreneurial hotspot.
Christian Nagel, managing partner at Earlybird, says the investment already boasts seven portfolio companies in Berlin, and that it plans to ‘significantly’ add to those in the coming years. It’s worth noting that Earlybird only recently moved all its operations (PDF) from Hamburg to Berlin after first setting up a hub there.
Sources close to the firm were unable to confirm whether part of the $100 million will serve to buy the Earlybird team, pictured below, some non-blue shirts. :)