Speedinvest closes second specialist fund at €60m

20 Jul 2021

Mathias Ockenfels. Image: Speedinvest

The pan-European VC’s second round saw participation from some big names, including Just Eat Takeaway COO Jörg Gerbig.

Speedinvest has announced the final close of its second specialist marketplaces and consumer fund at €60m, more than its initial target of €50m.

The fund included participation from founders of companies such as online B2B marketplace Ankorstore, second-hand fashion store Vinted, and trading social network TradingView, among others. Just Eat Takeaway COO Jörg Gerbig also participated in the fund.

Since its first close, Speedinvest’s marketplace and consumer fund has made four investments. This includes smart logistics company Yolda, which announced its $1.9m seed round last month.

Led by general partner Mathias Ockenfels, the team has expanded its investment to Speedinvest’s consumer tech portfolio. It now aims to invest in B2B and B2C markets with a focus on companies that have strong network effects.

Ockenfels said that the success of Speedinvest’s second fund comes at an exciting time for the platform economy. Apart from B2B and B2C marketplaces, the company is also focusing on the sharing, subscription and circular economies.

“Network effects remains a core pillar of our thesis, but will be anchored by consumer topics as the lines between traditional commerce and platforms becomes more blurred,” Ockenfels said.

He added: “At the core of all our efforts is our ongoing mission to nurture Europe’s start-up ecosystem with its founder-first ethos, and we aim to maximise this with our investments from this fund.”

Speedinvest’s speedy growth

Since 2017, Speedinvest has raised more than €100m for marketplaces and platforms, with more than €50m coming in from outside investors. The remainder has been covered by the company’s flagship third fund.

Launched in 2018, Speedinvest’s first marketplaces and consumer fund now includes one unicorn and six companies valued over $100m. The companies have gone on to raise more than €500m from tier-one investors such as Softbank, Northzone and Draper Esprit.

Earlier this month, Speedinvest participated in the funding round for Byrd’s €16m Series B led by Mouro Capital. It has also invested in digital coaching platform CoachHub’s €30m Series B and e-scooter company Tier’s $60m in fleet financing led by Goldman Sachs.

With offices in London, Berlin, Vienna, Paris, Munich and San Francisco, Speedinvest has more than €450m in assets under management. In May, it helped Irish financing platform start-up Wayflyer raise $76m in Series A funding in a round led by Left Lane Capital.

Vish Gain is a journalist with Silicon Republic