Delivery Hero Ventures

Delivery Hero Ventures (formerly DX Ventures) is the corporate venture capital arm of Delivery Hero SE, a publicly traded global food delivery platform headquartered in Berlin, Germany. Launched in January 2021 with initial capital of €50 million, the fund is fully backed by Delivery Hero SE and led by Managing Director Duncan McIntyre, who joined the parent company in 2014 and completed over 30 M&A transactions before leading the venture arm. The fund leads rounds and invests globally across food technology, on-demand services, AI, fintech, logistics, and sustainable innovation, writing checks averaging $5 million at Seed through Series B stages. The portfolio of 33 companies includes five unicorns, two IPOs, and three acquisitions. Notable holdings include Glovo (food delivery, acquired by Delivery Hero), Rappi (Latin American super app), Impossible Foods (plant-based meat), Ola (Indian ride-hailing), Toku (compensation management), and OneOrder (restaurant management). The fund's investment thesis centers on leveraging Delivery Hero's technical expertise and global network — spanning Europe, Southeast Asia, MENA, and Latin America — to help founders scale. Partner Brendon Blacker works alongside McIntyre to evaluate opportunities and support portfolio growth, with the team taking an engaged post-investment role in business development and market expansion.