Here’s some information that you might find useful.
If you have any questions not answered here, please feel free to get in touch.
- Who is Point Nine Capital?
- Who are the people behind Point Nine Capital?
- What sectors does Point Nine Capital invest in?
- In which countries are you active?
- What companies have you invested in?
- What are the investment criteria?
- How should a startup’s team look like?
- At what stages do you invest?
- Do you invest pre-launch?
- How much do you invest?
- What support can I expect beyond money?
- How do I know that this is true?
- How do I get in touch with Point Nine Capital?
- What materials should I send?
- How many investments do you make?
- Are you open to co-invest together with other investors?
- How big is the fund?
- Who are the investors of Point Nine?
- Got other questions?
Who is Point Nine Capital?
Point Nine Capital is an early-stage venture capital firm based in Berlin, Germany. And believe it or not, it looks like we’re actually the first Internet-focused VC to come out of Berlin.
Who are the people behind Point Nine Capital?
Point Nine was founded by Pawel Chudzinski, Christoph Janz, Kolja Hebenstreit and Lukasz Gadowski in 2011. Today, the firm is run by its three Investment Partners (Pawel, Christoph and Rodrigo Martinez) and one Operating Partner, Aleksandra Zorylo. Take a look at the team page to learn more about our entire team.
What sectors does Point Nine Capital invest in?
We’re exclusively focused on early-stage investments in Internet startups. We’re particularly excited about companies these areas:
- Online marketplaces
In which countries are you active?
If a company targets a global audience we’re open to investing pretty much anywhere, and some of our best portfolio companies were started in places like Auckland (Vemd), Denmark (Zendesk), Denver (GoSpotCheck) or Vancouver (Clio). When it comes to businesses with a stronger local angle we’re focused on Europe.
What companies have you invested in?
We’re early investors in a wide range of highly successful Internet companies such as Algolia, Automile, Brainly, Contentful, Delivery Hero, Docplanner, Typeform, Westwing or Zendesk, to name just a few. For a complete overview please check out the portfolio section.
What are the investment criteria?
We look at lots of criteria. Important ones include the product, the market size and the market segment, the business model, the company’s early traction, and of course the team. We love companies that try to solve difficult tech problems, and we have a strong bias for great products, big markets and signs of early traction. But we don’t expect everything to be perfect – we’re called Point Nine Capital for a reason.
If you are the founder of a SaaS startup, you may want to read this blog post which our partner Christoph Janz recently wrote: What we look for in early-stage SaaS startups.
How should a startup’s team look like?
We’re looking for dedicated, passionate entrepreneurs who are committed to building large companies. The best teams often consist of a product genius, a rock-star tech founder and a sales & marketing guru, but don’t worry if your dream team isn’t complete yet. The most important things for us are dedication, founder/market fit, and of course integrity. We love to work with experienced teams and serial entrepreneurs but we’re also happy to back young and relatively inexperienced founders if they make it up with their intelligence and their relentless drive. Christoph blogged about it – we’re looking for animals.
And by the way, we don’t care if your team is spread across the globe or if you have your most productive hours in the middle of the night. We often work like that too.
At what stages do you invest?
Our goal is to be the first institutional investor in a startup. The company may have raised a small amount of money from friends and family, launched a public beta version of the product and got some initial feedback and users but does not yet have enough traction to be considered by a larger, more traditional VC. We call this the “0.9 stage” of a company – that limbo stage when you’ve left angel investor paradise but aren’t ready for VC hell yet. In that stage – too big for private investors, too small for most VCs – many startups find it hard to raise capital, and that’s when we’d like to get involved. However, we also consider investing at an even earlier stage if the concept and the team are exceptional and have done this several times in the last years.
Do you invest pre-product?
In a few cases we’ve invested based on a Powerpoint presentation, but in all of theses cases we had already known the founder for many years. Usually we want to see a product and some signs of product/market fit before we invest.
How much do you invest?
Our initial investment is typically between a few hundred thousand Euros/Dollars up to about two million, and we keep reserves for follow-on investments.
What support can I expect beyond money?
Over the years we’ve built or backed a number of highly successful companies including Algolia, Automile, Brainly, Contentful, Delivery Hero, DocPlanner, Typeform, Westwing or Zendesk and many others. If you join our portfolio, we’ll put everything we have – expertise, know-how, contacts – at work for you because we have only one goal: Help you succeed.
How do I know that this is true?
That’s a good question, because just like we do a lot of due diligence before making an investment, you should do your due diligence on any investor who you’re considering to work with as well. After all, choosing your investors is one of the most critical decisions in the life of your startup. You’re more than welcome to talk to anyone who we’ve worked with in the past, and we’ll be happy to assist you with your reference checks. Also, please take a look at the “How we work” page to find out more. You may also want to check out Christoph’s “Good VCs, Bad VCs” post.
How do I get in touch with Point Nine Capital?
Just send us an email. Although we get a large number of inquiries we read each and every one and try to reply in a timely manner.
What materials should I send?
The best decks usually consist of 10-20 slides that answer the following questions:
- What’s the problem that you’re going to solve? There are probably exceptions but most successful companies solve a large problem. If you’ve got a solution but there’s not a large problem that it solves, you may have a problem. :-)
- How are you going to solve it? That’s the place to talk about your product or better yet, show it to us.
- What’s your business model or in other words, how are you going to make money?
- What’s your marketing strategy – how are you going to acquire thousands of businesses or millions of end users?
- How big is your market or market niche? You may not have reliable numbers but share your assumptions with us.
- Who are your competitors? List your most important competitors and tell us why you think you’re going to eat them for lunch.
- Who’s in your team and what have they done before?
- What’s the current status of the project and what are you planning to do with the funding?
- If you’ve launched already, please provide detailed KPIs. Most companies that we invest in have at least public beta already and we want to understand as well as possible how the take up of your product has been so far.
How many investments do you make?
On average we make one new investment per month, i.e. around 10-15 per year.
Are you open to co-invest together with other investors?
Absolutely – especially if they bring in complementary value-add. We’ve co-invested with a variety of business angels as well as VC firms and we can also help you recruit additional investors for your round if you want to.
How big is the fund?
Our current fund, Point Nine Capital IV, is a €75M fund. In total, we have approximately €190M under management.
Who are the investors of Point Nine?
Point Nine’s biggest investors are a handful of large, international institutional investors (“fund of funds”). A number of private investors - all successful Internet entrepreneurs – have invested in the fund, too. Pawel, Christoph, and the rest of the team have invested significant amounts as well.
Got other questions?
This FAQ list is still in progress. See, our own site is still at 0.9 stage as well. If you have any questions not answered here, please feel free to contact us.