Backed by Deutsche Telekom and SoftBank, DTCP raises $450 million for its growth and early stage funds [TechCrunch]
SOFTBANK GRP UNSP/ADR (SFTBY)
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Source: TechCrunch
DTCP held the final close of its third growth fund and an initial closing of its new early-stage fund, Incharge Capital , a joint venture with Porsche focusing on mobility startups, at a total amount of $450 million. While DTCP is now independent and an acronym for “Digital Transformation Capital Partners,” the DT in DTCP once stood for Deutsche Telecom, which is once again DTCP Growth's anchor investor. Despite these ties, DTCP had to settle on raising a smaller growth fund than it intended to following its first close in 2022. At the time, its target was $500 million, with a $600 million hard cap, and the expectation to be done in March 2023. “We went through a very complicated market environment for fundraising,” DTCP Growth managing partner Thomas Preuß told TechCrunch. “We're now at $330 million plus-ish, which is a very good size, to invest in this vintage. We already made four investments which are developing very well,” Preuß added. The four companies in question are Ane
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