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Venture Capital · Profile from Venture Capital Research Companion

Point Nine Capital

The Berlin seed fund built by two former founders-turned-angels that made "B2B SaaS and marketplaces, seed only, anywhere in the world" a specialist European franchise — early in Zendesk, Delivery Hero, Revolut, Algolia, Contentful, Typeform, Loom and Chainalysis, and best known among founders for Christoph Janz's SaaS benchmarks and frameworks.

At a glance

Founded
2011, Berlin (founders angel-investing together from ~2008 under the Point Nine name; first institutional fund 2011)
Founders
Christoph Janz and Pawel Chudzinski — co-founders of German internet companies (DealPilot, sold to Shopping.com; Janz also co-founded Pageflakes) before becoming angels (verify Chudzinski's exact founding roles)
Headquarters
Berlin; largely distributed team with partners in Europe (e.g. Paris, Barcelona/Madrid) and investments in North America
Ownership / structure
Independent, partner-owned; German GmbH & Co. KG fund vehicles managed by Point Nine Management GmbH entities; "equal partnership" model with carry shared equally among partners (announced 2020)
Leadership (2026)
Partners Christoph Janz, Pawel Chudzinski, Louis Coppey and Ricardo Sequerra Amram (equal partners since 2020), with further partners/principals added since (verify current roster)
AUM / capital raised
Not formally disclosed; cumulative commitments across seven core funds plus two Annex (opportunity) funds plausibly ~€800m–1bn (estimate, verify)
Stage focus
Seed (often first institutional round), sometimes pre-seed; initial cheques ~€0.5m–€3m (reported up to ~€5m in later funds); target ownership ~15% (partner interview, 2021); commits to participate in portfolio Series A rounds
Signature investments
Zendesk (founders' angel era), Delivery Hero, Revolut, Algolia, Contentful, Typeform, Brainly, Docplanner, Mambu, Chainalysis, Loom, Clio, Front, Factorial, Tier, Westwing; instructive outcomes: Loom (sold to Atlassian in 2023 for ~$975m, below its $1.53bn 2021 valuation), Tier (merged with Dott in 2024 after a steep markdown)

10 deals and moves analysed

Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.

  1. 2009

    Zendesk

    Angel / Seed

  2. 2011

    Delivery Hero

    Early-Stage

  3. 2012

    Brainly

    Seed

  4. 2013

    Contentful

    Seed

  5. 2013

    Mambu

    Seed

  6. 2013

    Typeform

    Seed

  7. 2014

    Algolia

    Seed

  8. 2015

    Revolut

    Seed

  9. 2016

    Chainalysis

    Seed

  10. 2016

    Loom

    Seed