Delivery Hero launches DX Ventures to target global early-stage startups
Delivery Hero, the Germany-based online food delivery platform, has announced the launch of DX Ventures - an independently managed early-stage venture capital fund with a focus on investing in disruptive founder-led companies.
The fund has an initial capital of €50M ($60M) to deploy globally and is fully funded by Delivery Hero SE. The fund has a broad mandate to invest across a wide variety of industries, including on-demand services, food technology, sustainable innovation, artificial intelligence, fintech, and logistics.
Duncan McIntyre, Managing Director of DX Ventures commented, "Being a family of founders, investing in entrepreneurship is an integral part of Delivery Hero’s journey. We understand the opportunities and challenges these startups are facing because we have gone through them ourselves. Delivery Hero has built a strong track record of investing in leading technology companies and gained a deep understanding of the global delivery and food industries. We pride ourselves on being able to offer support to founders and the companies we invest in and guide them on their path to lasting success."
DX Ventures aims to leverage global insights alongside local know-how to help founders grow outstanding companies. The fund’s approach is based on building long term partnerships with founders to provide support throughout the company lifecycle, including utilizing Delivery Hero’s technical expertise and extensive network of entrepreneurs around the globe.
Delivery Hero already has a strong presence in the MENA region, having recently acquired UAE-based InstaShop for a total base valuation of $360M. The transaction marked a step in Delivery Hero’s quest to pioneer q-commerce - the next generation of e-commerce - by joining forces with one of the largest online grocery platforms in the region. While InstaShop’s immediate focus remained on driving growth within its current geographies, joining Delivery Hero also created future complementary opportunities for expanding its footprint globally. Following this, in November of last year, Delivery Hero led a $5.5M Series B investment in Quiqup, another UAE-based on-demand and same-day delivery tech startup.
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