Brightpoint Capital wants to invest in German VCs

According to a media report, a new growth fund is set to mobilize half a billion euros to invest in other venture capitalists.

The Hamburg-based financial services provider Brightpoint Capital is launching the Tech Venture Growth Fund (TVGF). 500 million euros are to be raised at the launch of the new fund, according to start-up scene reports. The difference to conventional funds is that the money will not be invested directly in start-ups, but in other VCs.

The capital is to come from private investors who want to invest in a broad spectrum of start-ups. Brightpoint Capital founders Maren Eckloff-Böhme and Mario Oelkers will manage the new growth fund. Both entrepreneurs were previously active at the venture capitalist Headline.

The idea behind the Tech Venture Growth Fund is to make European investors more competitive. For fast-growing start-ups, the only option is often to attract an international investor for financing, usually an American one. The TVGF is intended to offer an alternative to this and form a counterweight to international investors. According to Gründerszene, the capital could flow into the VCs Headline, Lakestar, HV Capital, Project A and Earlybird.