Fond Of’s co-founders have put $3.5m into High-Tech Gründerfonds’ third fund, bringing its total to $375m and adding to commitments from limited partners including Fraunhofer Society.
Germany-based public-private partnership High-Tech Gründerfonds (HTGF) secured an additional €3m ($3.5m) for its third fund on Tuesday from the co-founders of backpack and fashion label Fond Of to close the vehicle at $375m.
The fund was specifically reopened for Fond Of’s co-founders.
HTGF in turn joined the XDeck, an accelerator program set up by Fond Of that will welcome its first cohort in 2020 at a purpose-built facility in Cologne called the Ship. The accelerator will focus on the consumer, commerce and digital sectors.
Founded in 2005, HTGF backs early-stage startups and typically provides up to $3.5m per portfolio business, though it has the option to supply more capital to particularly promising opportunities. It has backed more than 540 startups to date and celebrated more than 100 exits.
The partnership has been investing from its third fund since achieving an initial $275m close in 2017. Its…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
