Iris Capital and Capnamic Ventures push into German digital economy

Iris Capital and Capnamic Ventures have created a partnership to target early stage investments at the Germany digital economy.

Iris Capital’s OP Ventures Early Stage vehicle will co-invest alongside the multi-corporate Capnamic Ventures Fund. They will target start German startups, possibly extending the cooperation to later stage investments in future.

The involvment of Iris Capital also brings in the fact its main owners, and LPs, are Orange and Publicis, two firms that themselves are heavily reliant on developing new digital services to maintain business growth – Orange in the telecoms space and Publicis in advertising and media.

Currently Iris Capital has some €900m invested in 210 companies through its offices in Düsseldorf, San Francisco, Montreal, Riyadh, Dubai, Beijing and Tokyo.

Capnamic Ventures is a multi-corporate fund with offices in Cologne and Berlin. Founded as recently as January 2013, it is backed by corporate and family office investors. It has taken over the management of the DuMont Venture portfolio, the investment vehicle of M. DuMont Shauberg, which currently holds investments in some 20 companies.

Antoine Garrigues, managing partner at Iris Capital, said: “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.”

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