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).

About DLA Piper

DLA Piper is one of the world’s leading commer­cial law firms, with offices in more than 40 count­ries in Africa, Asia, Austra­lia, Europe, the Middle East, and North and South America. In Germany, DLA Piper is repre­sen­ted by more than 250 lawy­ers at its offices in Frank­furt, Hamburg, Colo­gne and Munich. In certain juris­dic­tions, this infor­ma­tion may be conside­red attor­ney adver­ti­sing. For more infor­ma­tion, visit: www.dlapiper.com