Brightpoint Capital wants to invest in German VCs

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

Hamburg-based financial services provider Brightpoint Capital is launching the Tech Venture Growth Fund (TVGF). The new fund is expected to raise 500 million euros at launch, as Gründerszene reported. The difference to conventional funds is that the money will not be invested directly in startups, but in other VCs.

The capital is to come from private investors looking to invest in a wide range of startups. Brightpoint Capital founders Maren Eckloff-Böhme and Mario Oelkers will manage the new growth fund. Previously, both entrepreneurs were active at venture capitalist Headline.

The idea behind the tech venture growth fund, they say, is to make European investors more competitive. For fast-growing startups, they say, the only option is often to attract an international investor for financing, usually an American one. The TVGF is meant to provide an alternative to that and counterbalance international investors. According to Gründerszene, the capital could flow to VCs Headline, Lakestar, HV Capital, Project A and Earlybird.