WE'RE THE
ACTIVE
INGREDIENT

PLanet A Foods
AMBOSS

We speak the same language as founders.

We started as founders and operators ourselves. That’s why we know we have to put founders first. We’ve been on the roller coaster and understand the ups and downs of the founder journey. We make all of our decisions, from recruitment to network-building to building our Copilot coaching program, to create an environment where founders can grow and thrive.

Contact us

We’re Cherry.

Founded in 2012, first as an angel fund, by Filip Dames and Christian Meermann, Cherry is an early-stage, pan-European venture capital firm with teams in Berlin, London and Stockholm. We’re an investment team of former entrepreneurs and operators who’ve built fast-scaling companies such as Zalando, Spotify and Uber. The Cherry team works alongside 130+ active portfolio companies across Europe with the support of our extensive entrepreneur pool of Europe’s top founders and operators from Dropbox, Zalando, Spotify, N26, Skype, Supercell, Wolt, Doordash and others

Cherry partners
2012:
angel
fund
2016: cherry ii
€150
million
2019: cherry iii
€175
million
2022: cherry iv
€320
million
2025: cherry v
€500
million

More than 50% of our fund is reserved for championing founders on their growth journey.

Ideas know
no borders.

And neither do our investments. We're pan-European, not country-focused. We look for founders with the wit, the heart and the guts to ask the right questions and follow through. That’s where it all begins.

Moss

What we look for

Before we decide to invest, we want to see three overlapping things: anomaly, the red thread, and personality. If you've got all three, you have a good chance of being exactly what Cherry's looking for.

ANOMALY

Something we haven't seen before, or don't see enough of. It might not make pertect sense and it might not have been proven yet, but you cannot dismiss it.

THE RED THREAD

The ability to recognize the shared needs, intentions, values and behaviours that make the anomaly real-life feasible.

PERSONALITY

Someone with passion, bold ideas, resilience, a competitive edge, and the ability to be a strong, but relatable leader who can think big and perform.

When we invest

It's never too early for us to meet a founding team. We often invest before you have the product or revenue figured out. We invest across all industries and sectors across Europe, with seed as our core stage. We're early-stage investors, from pre-seed to Series A. If your idea seeks to challenge a current solution, or better yet, shine a light on something we didn't even think to look at before, we'd love to hear from you.

A startup’s success isn’t just defined during funding rounds. Once you’ve hit the ground running and it’s time to build a strong team, our specialists and network experts are by your side to help out. We invest money, but we spend time – both ours and our network’s. Because you also need the right connections.

130+ Investments

FAQ

Where and at what stage do you invest?

Based in Europe’s key tech hubs — Berlin, London, and Stockholm — we invest throughout Europe and in early-stage startups, often as a founder's first institutional investor standing alongside them.

When is the right time to approach you about investing?

As early as possible. We have previously invested in startups pre-product and pre-revenue, so please get in contact with us as soon as your idea begins to take lift-off.

How much money do you invest?

Typically, we invest between €2 million and €7 million. Unlike smaller seed funds, we are a long-term financial partner with the majority of our funds saved for follow-on financing to champion Cherry founders along their growth journey. To be upfront, we do like slightly larger seed rounds and we strongly believe that is in a founder’s interest. We advise our founders to have at least 18 months of cash runway to avoid the constant rush of fundraising and to focus primarily on their team and business during their first phase as founders.

How many investments do you make?

We make around 10-12 early-stage, namely seed, investments per year. This allows us to remain focused and committed to working closely with the founders who we team up with. We believe we invest more than just capital, but also our time. We want to spend as much time as possible with our founders — across the investment and strategic resources teams — giving them support, guidance, and subject-matter value as they build next-generation companies born in Europe.

Do you have an industry or sector focus?

We invest across industries and sectors, focussing our time on discovering and growing the founders, ideas, and businesses that will create lasting futures. But there are indeed a few thematic areas that have our attention: B2B software, fintech, industrials, healthtech, climatetech, and consumer.In all of these areas, we’re looking for founders who are leading the charge and changing how businesses, medical providers, manufacturers, consumers, and more operate with cutting-edge technological solutions and, ultimately, bent on shaping the future of their particular fields.

What are your investment criteria?

Our top three criteria are team, team, and team. We are looking for founders who are ambitious, resourceful, and resilient. Of course, we will also look at the market, the problem you are solving, and the opportunity you're after. The market is important because we want to make sure that if you succeed, you end up building an influential company. We examine the respective model or approach itself and usually develop our own thesis on the business model or industry.

What is your investment process and how long does it take?

We know how distracting a fundraising process can be at an early stage. That’s why we’re fast and decisive.

What is truly important to us is building a relationship with the founding team. We start with an initial meeting or call. We pass on most companies after this point. But, if not, there is usually a second or third meeting or call with different members of our investment team. It is almost certain that you will have met or spoken with a large part of the investment team once we make the final investment decision. All investment partners meet the founding team along the process.

How are you different from other VCs?

We are the most entrepreneur-focused venture firm in Europe. As a team, we are startup founders, tech operators, and industry specialists and our pre-VC experiences make it a sure thing we deliver on that promise. In our limited partner base and broader network, we have Europe’s top entrepreneurs who have successfully run companies across all stages or are experienced investors themselves, representing companies like Supercell, Zalando, and Wolt to name just a few.

As a Cherry founder, you’ll have access to these experts in all industries and across all major parts of the value chain. So, whether it’s meeting with a customer service expert, seeking legal advice regarding your operations setup, or preparing your growth round in the US, we have your back.

How do you support founders?

Honestly, ask the founders of our portfolio companies. We believe you, a founder, should be running the show.

However, our entire team and network can help you when you need an extra lift or, more simply, a sounding board. We want to be as resourceful as possible and we make ourselves available to our founders whenever we can. Since building a team is probably the most important success factor for a startup, we have HR experts on our team who bring a wealth of experience with direct search, tech, and executive hiring. Knowing many early-stage companies don’t have press teams in place, we also advise companies on media and branding strategies ranging from their funding announcements to larger rollouts and specific communication targets. We also team up with international companies to provide preferential treatment such as key account management or price advantages. A glimpse into our current partnerships includes Amazon Web Services, Google, HubSpot, Notion, Stripe, and many more.

What is Copilot? Your coaching program?

The program, titled Copilot, comprises three core components: 1) it’s strongly encouraged, 2) it’s fully financially supported, and 3) it’s a time-based commitment.

All new founders who we team up with are offered coaching. Founders have the option to choose from a curated network of more than a dozen coaches who have worked with the Cherry team and portfolio as their dedicated coach. The costs are covered as aligned in the term sheet, ensuring that founders do not have to sacrifice quality for affordability. Lastly, all founders will be required to partake in these sessions for at least 12 months, ensuring a foundational underpinning for their long-term leadership development. Sessions are, make no mistake, 100% confidential.

We’ve created this program because we view our relationship with founders as a true partnership, where we invest not only in their businesses but also in their personal and professional growth. By providing a coaching budget as a part of our agreement, we strengthen the bond between Cherry and our portfolio companies.