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# Digital Transformation Capital Partners reaches first close of new $300 million fund
- URL: https://www.techloy.com/digital-transformation-capital-partners-reaches-first-close-of-new-300-million-fund/
- Published: 2022-09-21T08:08:21.000Z
- Updated: 2022-09-21T08:08:21.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Money, Digital Transformation Capital Partners, Deutsche Telecom

The venture capital arm of Deutsche Telecom, a German telecommunications company, Digital Transformation Capital Partners ([DTCP](https://www.dtcp.capital/)), has reached the first close of its fresh $300 million fund. 

- The fund is investing in tech-focused industries including cybersecurity, artificial intelligence, fintech, and web3, the VC claims.
- The fund, Growth Fund Equity III launched in March has raised capital from Deutsche Telecom and Softbank, a Japanese conglomerate, alongside institutional investments from pension funds and family offices.
- The fund will continue to raise capital and it looks to close new rounds of investments in 2023, according to the venture capital firm.
- Digital Transformation Capital Partners deploys cheques of $20 to $25 million for up to 25 equity investments in early to growth-stage startups in the US, Europe, and Israel. It recently invested $15 million in Cognigy.ai, a conversational startup.
- Softbank, an investor in the fund round, has about $419 billion in assets under management and backs sectors including crypto startups. Its portfolio includes Accelbyte, Blinkit, ByteDance, Cameo, Candy, Cars24, Cerebral, CityBlock, Cloudbeds, and Coupang among others.