About This Fund
Closed in January 2011 with commitments of €177 million, HV Holtzbrinck Ventures Fund IV is the fourth venture capital fund managed by HV Capital (formerly Holtzbrinck Ventures) — one of Germany's largest and most established venture capital firms, headquartered in Munich. The fund was co-capitalized by the Georg von Holtzbrinck publishing and media group together with HarbourVest Partners, a leading global private equity fund-of-funds investor, reflecting early institutional recognition of HV Capital's track record in German and European technology venture investing.
HV Holtzbrinck Ventures Fund IV invested across the full growth stage spectrum, from early-stage through growth equity, targeting technology-driven businesses in information technology, telecommunications and media (TMT), and e-commerce — sectors undergoing rapid expansion in the German-speaking and broader European market in the early 2010s. The fund applied HV Capital's differentiated approach of founder-focused mentorship, deep domain expertise in consumer internet and B2B software, and strategic access to the Holtzbrinck group's extensive media and publishing network, which provided portfolio companies with content distribution and commercial partnership opportunities across European markets.
HV Fund IV formed part of a family of three parallel vehicles — HV IV, HV V, and HV Coinvestment Fund — which collectively invested from 2010 to 2015. In February 2022, HV Capital established HV COCO Growth, a €430 million continuation fund designed to steward the remaining assets from those three vehicles through their divestment phase, reflecting the maturity and ongoing portfolio management requirements of this fund generation. HV Capital today manages over €2.8 billion in assets and has invested in approximately 250 technology companies, making it one of Europe's most prominent multi-stage venture capital firms.