DTCP launches growth fund

With a volume of 300 million U.S. dollars, the fund is to support tech start-ups that are on the threshold of scaling up.

The Hamburg-based venture capital fund DTCP is launching a $300 million growth fund. The investors behind the fund include Softbank Group International and Deutsche Telekom. The capital is to flow into tech start-ups from Europe, Israel and the USA that are at the critical threshold of scale-up. About 25 equity investments in the range of $20 million to $25 million are targeted from the fund.

"The current market environment and the associated adjustment in company valuations present a unique opportunity right now to invest in great companies, including leaders in the enterprise software space," said Jack Young, managing partner at DTCP Growth. He said the fund seeks to identify leading companies and help them realize their growth potential.

The fund has already completed its first transaction, investing $15 million in Cognigy in a Series B round. The Düsseldorf-based startup has developed a conversational AI platform for creating voice and chatbots for customer service. DTCP also plans to invest in similar companies in the future. The focus of the investments is to be on the areas of artificial intelligence, cybersecurity, Web3, vertical SaaS solutions, IT applications and software in the area of cloud infrastructure.