- Dating.com Group announced it has launched a $50 million corporate VC fund. These are the details.
Dating.com Group, one of the biggest dating companies with 73 million registered users and more than $250 million in revenue, announced it has launched a $50 million corporate VC fund. The fund will invest in companies and projects in the dating space.
The Dating.com apps are available in more than 100 countries. Dating.com Group is also known for acquiring India-based Dil Mil — which is known as the “Tinder for South Asians” that is known for setting up 10 million matches across the US, UK, Australia, and Canada. Some of the company’s other apps include Dating.com, AnastasiaDate.com, Tubit, DateMyAge, AsianDate.com, and AfricanDate.com.
The Dating.com Group’s $50 million fund was announced during GDI Insights in New York City where Dating.com founder Dmitry Volkov presented it. The corporate vehicle under the Dating.com Group umbrella will invest in companies in the seed to series B stages with a ticket size of up to $5 million.
The first investment made by the fund was in S’More — which is a dating app that provides daters with an interactive way to learn more about a person before looking at their appearance.
Dating.com Group is known for occupying about 33% of the market share for cross-border international dating and has offices in seven countries. And in order to expand, it plans to buy, build, or invest in promising projects.
And during Dating.com’s board meeting in Malta last spring, the company revealed it is planning to buy dating companies in Asia and the U.S. Currently, Dating.com has offices in 7 countries and a team of more than 500 professionals with over 73 million registerd users across its whole portfolio.
Key Quotes:
“Over the last three years, 53 companies in the dating space have raised investment rounds totaling $230 million from a total of 134 VCs. We believe we can leverage our expertise to find and support the next generation of global dating projects with great success and are excited to announce this fund.”
-Dmitry Volkov, founder of Dating.com Group
“Dating.com Group is a hugely important partner for us. Ultimately, we are building a conservative relationship app with mass global appeal. The international experience of Dating.com Group has already served us well and will undoubtedly continue to do so.”
-Adam Cohen Aslatei, CEO of S’More
