Berlin and Munich-based VC firm HV Holtzbrinck Ventures has announced the launch of a new seed programme as a part of its recently closed Fund VII, with a volume of €306 million. Seed funding amounts through the programme will begin at €50,000, up to €500,000.
The programme is intended to allow founders to access capital more easily, more quickly, and under more favourable terms. It will simplify financing structures and processes, allowing founders to gain access to capital in very early phases with minimal administrative requirements.
"We often see great teams with great ideas and would like to support them even earlier on their entrepreneurial path," says David Kuczek, General Partner at HV.
Investments in some of HV's most successful portfolio companies have started as a seed funding. For example, HV invested €250,000 euros in the founding phase of Zalando, which is now Europe's most successful fashion platform.
"The revised process is based entirely on the special needs of founders in the seed phase. They get the required capital more easily, faster and under more favourable terms", says Christian Saller, General Partner at the AGM. "When founders introduce us to their company, we decide within one to two weeks whether to invest. After the decision, it will take less than two weeks for the money to reach the founders' account."
HV focuses primarily on investments in the areas of internet, mobile, software, health, finance and digital media, both in the corporate and end customer sectors. Since 2000 it has financed over 160 companies including Zalando, Delivery Hero, FlixBus and Scalable Capital. The VC currently has over €1 billion under management.