Rocket Internet's new fund targets startups

German ecommerce investor Rocket Internet has set up a new fund it hopes will speed up and simplify capital raising for its start-ups, helping the European technology scene keep up with US rivals that have easier access to finance.

Europe’s largest internet firm has set up dozens of companies ranging from online fashion to food delivery, but has had to put several planned flotations on ice in recent months due to a cooling market for technology listings.

The fund— to which Rocket Internet will contribute $50m (€45.8m) of the $420m attracted so far— means Rocket’s start-ups can draw on a capital pool of €2.1bn, including Rocket’s own €1.7bn of cash.