German specialist fintech investor CommerzVentures has announced its third €300 million fund.

The fund will go towards supporting early and growth-stage companies in the fintech and insurtech sectors, as well as the emerging climate fintech space.

CommerzVentures has also committed to arrange and fund high-quality carbon offsets for  portfolio companies in the first year of their partnership.

The latest fund, which saw Commerzbank return as the sole limited partner (LP), brings its combined total fund size to €550 million.

CommerzVentures’ third fund follows on from its first €100 million fund, launched in 2014, and their second €150 million fund in 2019, as well as successful investments in 28 companies to date.

The launch of Fund III will see CommerzVentures grow their headcount by 50%, enabling it to establish a foothold in new geographies, notably Africa, following its recent participation in MFS Africa’s US$100 million Series C.

CommerzVentures has seen 30% of their early investments develop into unicorns namely Bought By Many and Mambu, including two decacorns eToro and Marqeta.

Commenting on the launch of the Fund III, CommerzVentures partner Heiko Schwender said,

“Over the past eight years, our team has leveraged our extensive experience to back founders reimagining the financial services industry across Europe, the US, Israel, and Africa.

We are proud and grateful to our portfolio of companies we have worked alongside, now including almost a dozen current and future unicorns.”

Speaking on their carbon offset commitment, CommerzVentures partner Paul Morgenthaler said,

“As the pioneering investor in European climate fintech, we feel an obligation to support all our portfolio companies on their path towards carbon neutrality.

 

With our access to high-quality carbon offsetting projects, we can help them to make credible net-zero commitments, while working on emission reductions.”