Germany’s ‘angel VC’ firm, Point Nine Capital raises a new $54m early-stage fund

Berlin-based Point Nine Capital has today announced that it has closed its second fund, amounting to €40 million ($54 million).

The VC firm, a spin-off from the Team Europe incubator, has invested in the likes of Brainly, ePetWorld, Kreditech, Positionly, Shiftplanning and Vend, while fund managers Pawel Chudzinski and Christoph Janz previously made their names putting money into the likes of Delivery Hero, Madvertise, and Zendesk.

The new Point Nine Capital II fund has been raised from institutional investors including Horsley Bridge Partners, RTA Ventures and SAP Ventures, plus the likes of Arend Lars Iven and Ron Hillman from Berlin Venture Partners; eKomi founders Michael Ambros and Gunther Schmidt, the teams behind Cube Investments from Spain and Xevin Investments from Poland, partners from Team Europe plus Point Nine Capital’s management.

Point Nine’s ethos is to take an angel investment approach to venture capital, combining a “founder-friendly, no-nonsense” approach with the more robust funding that a VC can offer. Point Nine will continue to be managed by Chudzinski and Janz. However, coinciding with the announcement of the new fund, Lukasz Gadowski and Kolja Hebenstreit of Team Europe are both leaving the investment committee, although they will continue to act as advisers.

The news of Point Nine’s new round follows the announcement earlier in the week of a new $100 million fund from Israel’s Magma Venture Partners.

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