Berlin-based VC firm Cavalry Ventures — which has backed startups like logistics unicorn Forto and AI company Aleph Alpha — has seen three out of five of its partners leave the firm this year.
Founding partner Rouven Dresselhaus announced on LinkedIn Thursday morning that he was leaving the firm to focus on his family and, “when the time is right, pursue new challenges.”
Partner Björn Loose also announced last week that he was leaving the firm; and fellow partner Martin Janicki left the firm in July this year, according to his LinkedIn.
“Regarding the departures, I don’t know every individual reason for (their) moving on, but most of the leavers have been with us for a long time and it was time for them to move on/progress,” partner Claude Ritter told Sifted.
“We feel that the team now has the right size for what we want to achieve in the next couple of years. We plan to stay lean and nimble, which we believe will put us in the best position to compete and serve our founders.“
Calvary announced a first close of its third fund, at €100m, at the end of 2020. It was targeting a €160m final close — but Sifted understands the firm has now stopped fundraising and plans to finalise the fund at €100m.
Staff shakeups
Partner departures en masse aren’t common in venture — but they do happen. London VC firm Atomico has seen five investment partners leave, and seven join, between its last fund (raised in 2020) and its latest (announced this month). In Germany, former early-stage VC La Famiglia general partner Judith Dada announced her departure earlier this year following the firm’s merger with General Catalyst in 2023.
The partners who remain at Cavalry Ventures are Ritter and Stefan Walter, who cofounded the firm in 2015 alongside Dresselhaus.
Other staff have left Cavalry Ventures this year; some of the lower ranks left as the size of the team got smaller as they saw little opportunity to be promoted, says Ritter.
Some staff members moved to other funds, like former Cavalry principal Fabian Kraustwald who took up a position as principal at climate VC World Fund. The team is now 10 people, including partners.
Dresselhaus said on LinkedIn: “Cavalry will always hold a special place in my heart, and I will remain closely connected, invested, and supportive of the team as they continue to grow.”
Read the orginal article: https://sifted.eu/articles/cavalry-ventures-loses-third-partner-news/
