Rocket Rewired: Global Founders Capital’s Second Act

Global Founders Capital (GFC) burst onto the scene in 2013 as the Samwer brothers’ answer to Sequoia-speed venture. Armed with Rocket Internet’s “launch Tuesday, global by Friday” playbook, the fund sprayed early-stage cheques from Berlin to Bangkok. Early hits rolled in: a seed ticket into Munich HR-platform Personio when it was still five founders over a kebab shop, fueled rounds into Revolut’s breakout fintech blitz, and a pre-unicorn punt on Canva down in Sydney.

By the late 2010s the firm boasted 900+ portfolio companies and two $1 billion funds, but zero-rate exuberance came with bloat. Market whiplash hit hard; support staff were slashed and new LP fundraising stalled.

The pivot landed in April 2024: GFC stopped chasing external capital and folded into Rocket Internet as its in-house VC arm, backed by roughly €300 million of corporate cash and run by a trimmed five-partner team. Mandate: stay early-stage, keep room for follow-ons, and let Rocket’s balance sheet call the shots.

So, are they still alive? Definitely—just leaner and balance-sheet-fed. In January 2025 GFC re-upped in Paris-based HR-AI startup Maki’s $28.6 million Series A, proof the engine still turns even if the logo is now stamped “Rocket Ventures.”

With Fund I tracking mid-single-digit multiples and a war-chest that doesn’t need LP approval, GFC 2.0 is back to its roots: small team, fast decisions, and one very deep corporate pocket.