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Rocket Internet, the German internet company that is famous for building "copy cat" tech companies has raised $420m in a new fund that will invest in European Internet companies. It's an interesting move because Rocket is a public company that is under scrutiny to reduce losses.
Rocket contributed $50 million and the company shareholders will recoup as much as 25 percent of the returns, provided investors in the fund reach at least 8 percent in annual returns, the Berlin-based company said Tuesday in an e-mailed presentation. European and U.S. investors seeking to back startups Rocket believes in have joined the fund, the Berlin-based company said. “For startups, the access to capital may become more difficult in 2016,” Chief Executive Officer Oliver Samwer told reporters in Berlin. "So in this time, it’s an enormous competitive advantage to have a fund that’s endowed like the biggest U.S. funds.”
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