By Siobhan O’Leary
Berlin-based investment firm Team Europe Ventures has announced a new initiative to provide funding to promising Internet and mobile Internet startups over the next three years. The €6 million fund will be split among four to five startups each year (approx. €500,000 each), which will be hand-selected by Team Europe Ventures and a team of partners. The focus will be on firms in Europe and the US. In a press release issued by Team Europe, partner Kolja Hebenstreit highlighted the primary criteria for eligibility: “If we feel that a business will succeed without us, but will be quicker, larger, nicer with us – then it’s a case for us.”
More information on the fund, in English, is here.