In today’s episode, Andreas talks with Christian Meermann, Founding Partner at Cherry Ventures and a Forbes Midas Lister. ith a €320M fund size and €1B in AUM, Cherry Ventures has made its mark across Europe by backing companies like Flixbus, Auto1, Flaschenpost, Finimize, and Ninetailed. Headquartered in Germany, the fund focuses on early-stage investments (Pre/Seed/Seed+) across both B2B software and consumer verticals.
Christian shares the secrets behind Cherry’s culture of excellence, navigating competition in venture capital, and how to underwrite new managers in today’s market. He also dives into the art of decision-making for follow-on rounds, discussing what to look for and how to support portfolio companies effectively.
With deep entrepreneurial roots, including his role as CMO of Zalando—scaling it from small revenues to over €2 billion at IPO—Christian brings a wealth of operational experience, strategic insight, and passion for founders with global ambitions.
Together, we explore:
Cherry's founding journey and Christian’s entrepreneurial background.
Building a culture of excellence while competing in a dynamic venture market.
Underwriting new managers: What investors should look for in emerging talent.
The decision-making process for follow-on investments and how Cherry approaches it.
Lessons from Christian’s career and success stories, including one of Germany’s largest exits with Flaschenpost.
Watch it here or add it to your episodes on Apple or Spotify 🎧 chapters for easy navigation available on the Spotify/Apple episode.
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✍️ Show notes
The founding story of Cherry Ventures
Cherry Ventures began as an angel investing hobby and transitioned into a professional venture capital firm.
Cherry was founded by former Zalando executives who started angel investing with their own capital.
After Zalando's IPO, they decided to pursue investing as a full-time profession.
External capital was raised to launch Cherry Ventures as a structured firm.
How the journey with Zalando has shaped you as an investor today?
The entrepreneurial experience at Zalando influenced Cherry’s investment philosophy and team structure.
Operational experience helps investors better understand and support founders.
Cherry's partners all share entrepreneurial backgrounds, bringing diverse and complementary perspectives.
First-hand experience running startups improves empathy and strategic advice for founders.
Where do you think that this operational experience gives the highest value and where does it maybe end?
Operational experience has significant strategic value but is less applicable to day-to-day business execution.
Highest value: Strategic guidance on pivots, M&A, or scaling challenges.
Limited value: Micromanaging or interfering in granular details, like campaigns or cost decisions.
How have you seen your competitive edge being a founder-driven firm? Have you seen it wash out or have you seen it be just as strong as it was back then?
Cherry Ventures expanded its competitive edge by scaling geographically while maintaining its entrepreneurial focus.
Cherry has grown from a Berlin-centric firm to a pan-European VC with offices in Stockholm and London.
The entrepreneurial approach remains core to their strategy despite increased competition.
Strong founder relationships and unique positioning continue to strengthen their competitive edge.
Do you think that's true or do you think that's more VCs being mindful of showing humility towards the trail that the founders are walking?
Building a VC firm is entrepreneurial but comes with more stability compared to startups.
VC firms enjoy predictable management fees for 10 years, providing financial stability.
VC founders benefit from established networks, playbooks, and lower volatility compared to startup founders.
What do you say when you meet emerging managers, angels wanting to turn VC?
Becoming a successful VC requires passion, dedication, and understanding the long-term nature of venture capital.
Motivation and passion are key for success as an emerging manager.
Solo GPs must love working with founders and navigating the venture ecosystem.
The journey requires commitment to a 10+ year timeline.
How do you think about the specialization of venture? Do you see that coming more and more when you look at an emerging manager?
Specialization works for niche-focused managers, but generalist firms like Cherry use a structured approach to diversify.
Cherry Ventures remains generalist to stay adaptable to market trends.
Specialized funds succeed by dominating their chosen niche, such as AI or climate.
Cherry organizes vertical teams internally to develop deep expertise across sectors.
Going into 2025, what makes you most excited?
Key opportunities in AI, robotics, and Europe’s tech ecosystem are driving optimism for the year ahead.
AI applications and emerging agents are expected to dominate the tech landscape.
Robotics offers disruption opportunities in manufacturing, logistics, and warehousing.
Strengthening Europe’s tech ecosystem remains a major priority, particularly in a changing global context.
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✍🏻 EUVC Masterclass | Marketing & VC Fund Narrative
Your brand is everything. It’s what sets you apart, helps you win the best deals, attract LPs, and ultimately drive your growth. For emerging fund managers, building a credible brand and establishing the right marketing foundations early on are game-changers. Yet, many don’t know where to begin.
Your fund’s narrative is what makes the difference between an LP glancing at your deck or deciding they’re ready to write a check. It’s your brand that makes LPs feel confident they’re partnering with someone who knows how to make magic happen.
We’re planning a masterclass on building strong marketing foundations with a top industry leader. If enough people show interest, we’ll make it happen.
EUVC Masterclass: Benchmarketing for GPs & LPs
In venture, knowledge is power—and benchmarking is the key to unlocking it. Understanding where you stand against your peers is what makes you set realistic expectations, and drive portfolio performance.
For GPs, benchmarking can reveal the strengths and weaknesses of your portfolio, while for LPs, it provides a clearer picture of where your commitments stand in the broader market. Yet, many don't know how to effectively utilize benchmarking tools or interpret the data.
We’re planning a masterclass on mastering the art of benchmarking, led by a top expert in the industry. If enough people express interest, we’ll make it happen!
💬 EUVC Community | LP AMA with AQVC’s Marius Weber
Join us for an exclusive AMA session with Marius Weber, Founding Partner at AQVC.
After a history as a co-founder of startups and a manager of several VC funds over the last 15 years, in 2021 Marius Weber partnered with his long time friends Marcus and Oliver and co-founded AQVC, a tech enabled asset manager for Venture Capital which is divided in two departments.
This AMA is part of our ongoing series of small-group sessions designed to foster deep, meaningful discussions within the VC community. Participation is free for members of our community, but spots are limited. Reserve your spot now to ensure you don’t miss this opportunity.
🗓️ The VC Conferences You Can’t Miss
There are some events that just have to be on the calendar. Here’s our list, hit us up if you’re going, we’d love to meet!
GoWest | 📆 28 - 30 January 2025 | 🇸🇪 Gothenburg, Sweden
Investors Summit Bilbao 2025 | 📆 11 - 12 February 2025 | 🇪🇸 Bilbao, Spain
0100 DACH 2025 | 📆 18 - 20 Feb 2025 | 🇦🇹 Vienna, Austria
0100 Europe 2025 | 📆 02 - 04 April 2025 | 🇳🇱 Amsterdam, The Netherlands
0100 Emerging Europe 2025 | 📆 14-16 May 2025 | 🇭🇺 Budapest, Hungary
GITEX Europe 2025 | 📆 23 - 25 May 2025 | 🇩🇪 Berlin, Germany
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