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Germany's Rocket Internet to invest €2.6B cash pile in AI, fintech startups

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Germany's Rocket Internet to invest €2.6B cash pile in AI, fintech startups

Rocket Internet SE is looking to invest in fintech and artificial intelligence startups using its gross cash pile of 2.6 billion.

Rocket Internet founder and CEO Oliver Samwer said during a May 29 earnings call that the company is watching these sectors very closely, as well as marketplaces in a number of verticals and direct-to-consumer brands.

"I think the time will come to deploy our capital over time without having the pressure and, at the same time, maybe the patience to look for the right opportunities," Samwer said.

The German company holds stakes in two public companies in its portfolio, namely HelloFresh SE and Delivery Hero AG, at 36% and 8% respectively.

Another startup in its portfolio, Home24, also announced its intent to go public, Rocket Internet CFO and board member Peter Kimpel said.

Meanwhile, in May, Rocket Internet sold Pakistani e-commerce company Daraz Group to Alibaba Group Holding Ltd. for 34 million.