Cusp Capital’s €300 Million Fundraising

Poellath advised Cusp Capital both on all contractual, tax and regulatory aspects of the fund structuring and marketing and on setting up the management company.

Venture capitalist Cusp Capital with offices in Essen and Berlin has successfully held the first closing of its first fund.

The fund’s investment focus is on early-stage investments in technology and software companies in Europe. A particular focus of the investment activity is on companies at the interface of digital technologies and sustainability.

Cusp Capital was founded by the experienced VCs Christian Winter, Jan Sessenhausen, Helmut Klawitter and Wilken Engelbracht. Prior to founding Cusp Capital, the team was re-sponsible for two successful VC funds financed from the Tengelmann Group’s balance sheet. During this time (over 10 years), the team invested more than EUR 400m in companies that have often become market leaders in their respective industries, including Zalando, Delivery Hero, Klarna, Westwing, Scalable Capital, data Artisans, Global Fashion Group and brands4friends.

With the new fund, the Cusp Capital team is opening up for the first time to external investors in addition to the Tengelmann group. The investor base at first closing includes the European Investment Fund (EIF), KfW Capital, the RAG-Stiftung, the NRW.Bank as well as various German family offices and private investors.

The Poellath team advising on the fund structuring included Dr. Philip Schwarz van Berk (Picture – partner), Dr. Philip Mostertz (senior associate), Dr. Christian Hillebrand (counsel), Laura Baaske (associate), while the team advising on the setting up the management company included Christian Tönies (partner) and Dr. Sebastian Gerlinger (counsel).

Helmut Klawitter – general partner and general counsel at Cusp Capital – coordinated the internal legal process for Cusp Capital. As notary, Dr. Christian Löhr of KÜMMERLEIN accompanied the process.

Involved fees earner: Laura Baaske – P+P Pöllath + Partners; Sebastian Gerlinger – P+P Pöllath + Partners; Christian Hillebrand – P+P Pöllath + Partners; Philip Mostertz – P+P Pöllath + Partners; Philip Schwarz van Berk – P+P Pöllath + Partners; Christian Tönies – P+P Pöllath + Partners;

Law Firms: P+P Pöllath + Partners;

Clients: Cusp Capital;

Author: Federica Tiefenthaler