Several reports today indicated that Rocket Internet, the controversial German startup factory, could be raising $1.12 billion for a new venture fund.
Rocket, which went public last year, likes to take what it calls “proven” Internet business models and create its own startups around them. While the company argues that its process is an efficient and effective way to create startups for regions like Europe, Africa and Asia, its critics (typically in Silicon Valley), see it as just copying other people’s ideas.
Either way, it appears Rocket may be raising its ambitions even higher.
According to the reports, even though the new fund may be officially outside of Rocket, the likely name will be “Rocket Internet Growth Fund.” And the sole general partner may be Oliver Samwer, Rocket’s chief executive.
The result would likely be even more complex financial structures than Rocket’s current set up. But if investors are willing to pony up the money, it also would mean even more influence for Rocket on the global startup scene.