EQT Ventures leads 12 million euro round for online platform Timeless
Munich — EQT Ventures leads a Euro 12 million financing round at Berlin-based online platform Timeless, through which shares of luxury goods and collectibles can be sold and traded. In addition to EQT Ventures, other backers include Porsche Ventures, C3 EOS VC (FinLab EOS VC Fund) and La Roca Capital. — CEO Jan Karnath founded the company in 2018 together with Andreas Joebges (CTO) and Malte Häusler (CFO). They launched the platform Timeless in February 2021.
Timeless, a brand of Berlin-based New Horizon GmbH, is a digital platform for selling and trading shares in luxury goods and memorabilia through tokenization, providing access to this asset class for a broad base of retail investors. The company is thus making the market for rare collectibles — including watches, art, vehicles, sneakers and wine — accessible to everyone, using blockchain technology to document digital transactions in a reliable, traceable and secure way. Users can buy and trade shares starting at 50 euros via the Timeless app.
EQT Ventures is the venture capital fund of EQT, a purpose-driven global investment organization. EQT Ventures invests in fast-growing, innovative and technology-driven companies in all sectors worldwide, with a focus on Europe and the US.
The DLA Piper team was led by partner Andreas Füchsel (Private Equity/M&A, Frankfurt). The core team included Senior Associate Dominik Wegener (Corporate/M&A, Hamburg) and Associate Philipp Meyer (Private Equity/M&A), and also included Partner Dennis Kunschke (Finance), Counsel Miray Kavruk (IPT), Senior Associates Elena Bachmann (Finance), Juliane Poss (Capital Markets, all Frankfurt), Florian Jeske (Employment), Associates David Sanchio Schele (Data Protection, both Hamburg) and Theresa Schenk (Capital Markets, Frankfurt).
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