Rocket Internet closes $1bn start-up fund

German internet company that has invested in the likes of Deliveroo and Zipjet will focus on software, e-commerce and financial technology

UK internet start-ups are set to benefit from another $1bn fund closed by German company Rocket Internet.

The Rocket Internet Capital Partners (RICP) fund will focus on investing in early and growth stage start-ups across software, e-commerce, financial technology, marketplaces and travel.

Rocket Internet has previously invested heavily in London-based food delivery company Deliveroo and Startups Awards finalist on-demand laundry service Zipjet.

This latest fund was backed by a number of global investors including financial institutions, pension funds, asset managers, foundations and high net-worth individuals.

Oliver Samwer, Rocket Internet CEO, said: “RICP having reached the hard cap of $1bn shows the strong interest of leading investors, who share the enthusiasm for the attractive investment opportunity RICP presents.”

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