Point Nine Capital has secured €180M.

To promote B2B marketplaces and B2B SaaS firms, Point Nine Capital, a venture capital firm with its headquarters in Belin, has secured a new seed fund of €180 million

The fund will concentrate on making investments in its native market of Europe. The goal of Point Nine is to invest €500,000 to €5 million in seed-stage businesses, typically in Europe, while 20% to 30% of its investments are made in the United States, Canada, and Turkey.

Source: https://sifted.eu/articles/point-nine-raised-seed-fund-news/

Given the state of the market, Point Nine has no intentions to change its investment strategy or be more cautious. Point Nine will consider funding SaaS, B2B markets, developer tools, APIs, cryptocurrency infrastructure, climate software, and other projects.

The Sifted research points out that the B2B sector has experienced a downturn and mentions Klarna’s valuation decline of 85%. So far, the majority of those impacted are B2B SaaS companies who sell to other startups or IT companies. However, they assert that it’s highly likely that they haven’t yet fully experienced the effects and add that 2022 and perhaps 2023 would probably be slower years for B2B businesses. Venture capitalists have been trying to push tech firms to innovate so they can adapt to the state of the economy, with the ones who have innovated more seeing higher demand.

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