News Summary

Berlin-based venture capital firm Cherry Ventures has raised a new $500 million fund aimed at supporting early-stage and Series B and beyond investments in European tech startups. This marks their fifth fund, Cherry V, with the goal of aiding the creation of Europe’s first trillion-dollar company. Despite the ambitious target, Cherry Ventures acknowledges the challenges as European AI startups lag significantly behind U.S. counterparts in fundraising. The firm did not appear in last year’s HEC-Dow Jones Venture Capital Performance Ranking, yet remains optimistic about reversing the negative economic narrative in Europe. Notable investors in the fund include entrepreneurs from Wolt, Supercell, and Flix. Cherry Ventures’ portfolio features companies like The Exploration Company and Flink, and it has achieved 18 exits, including CoWSwap and Homelike.