The Munich comparison service Check24 starts with Check24 Ventures a venture capital arm. Over the coming years, more than 60 million euros of capital will be invested in young technology companies and digital business models.
“We see high demand for growth financing in Germany due to the comparatively low supply of venture capital“,
says Check24 Managing Director Christoph Röttele. Matthias Orlopp, who was Chief Financial Officer (CFO) at Check24 from 2009 to 2013, will take over the management of Check24 Ventures.
The new VC fund focuses its investments on early-stage and growth-stage startups. Between 10 and 20 investments are currently planned, with up to €10 million in investment volume per company.
Not only money, but also know-how is required
“Check24 Ventures relies on excellent founders and founding teams with whom we come together through the growing Check24 network,”
says Orlopp.
“In our investments, we promote entrepreneurial activity and, in addition to financing, provide targeted support with the know-how and resources of the Check24 Group.”
The goal, according to the Check24 Ventures website, is to generate value together with the founders from day one, rather than just contributing capital. Check24 Ventures operates independently of Check24 and "makes financially induced investment decisions in growth companies in the Internet, Fintech, online marketplaces and software sectors with a regional focus on the DACH region”.
