Iris Capital and Capnamic Ventures have entered a newpartnership for early-stage investments in the German digital economy
Paris, Cologne, Berlin, March 14, 2013 – Iris Capital, a leading pan-European VC focusing on digital economy, backed by its main corporate investors Orange and Publicis, and Capnamic Ventures, a rapidly rising player on the German VC scene, which recently spun off from the DuMont Schauberg media group, have entered into a partnership agreement for early-stage investments in Germany.
The Iris Capital early-stage vehicle (‘OP Ventures Early Stage`) is dedicated to European investments. It will co-invest alongside the newly launched multi-corporate Capnamic Ventures Fund in fast growing start-ups of the German digital economy. The cooperation may also extend to later stage investments in Germany.
The two teams will closely cooperate in order to benefit most from their combined technical and business knowledge for investment decisions and portfolio management. In combining their efforts, they will also offer a broader international development perspective to their respective portfolio companies, benefiting in particular from Iris Capital’s presence in North America, Asia and the Middle East.
“Iris Capital has been investing in Germany for a long time. Considering that the German VC environment is particularly dynamic in Europe today, it is increasingly important to reinforce our presence in the early stage segment. Beyond our passion for VC, we share our strong focus on digital economy, spin-off history and innovative and unique multi-corporate approach with Capnamic. By joining forces, Iris and Capnamic will definitely represent a major European early-stage VC player”, declared Antoine Garrigues, Managing Partner at Iris Capital.
Sophie Dingreville, Partner at Iris Capital, has joined the investment committee of the Capnamic Ventures fund. “Our respective early-stage vehicles, both operational and already investing, were launched simultaneously. This is rather unique in fund cycles and builds the perfect ground for a successful collaboration”, she said.
Christian Siegele, Managing Partner at Capnamic Ventures, explained: “We associate well-known corporate investors and successful family offices. The partnership with Iris Capital creates a new level of added value: Iris LP’s Orange and Publicis are leader in the European telecommunication and advertisement market. In cooperation with our investors from the entertainment and publishing sector, we will create a complementary partnership.”
“With Iris Capital as our partner for early-stage investments, we will reach an unparalleled set-up in continental Europe” said Jörg Binnenbrücker, Managing Partner at Capnamic Ventures. “Both teams combine their excellent market knowledge and will thereby enlarge as well as enrich the opportunities for fast-growing startups in Europe.”