On January 20, 2017, Tech Crunch reported that Berlin-based incubator Rocket Internet reportedly closed a new fund at a cap of $1 Bn. This fund is the biggest VC fund to be raised out of Europe, according to the company. It will focus on early- and late-stage investments in the startup space and is called Rocket Internet Capital Partners (RICP) fund.

The company will continue running ventures and investing in its portfolio companies. The fund will invest in key focus areas of the Internet sector including marketplaces, e-commerce, financial technology, software and travel. Among the investments are Rocket Internet founded companies as well as others.

It is important to note that Rocket Internet acquired Talabat in 2016 for $170 million and has bought many competitors in the GCC region.

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For more information, visit https://techcrunch.com/2017/01/20/rocket-internet-closes-1b-fund-the-largest-to-date-out-of-europe/

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