Rocket Internet may be raising a new $1.1B venture fund for late-stage companies

Several reports today indicated that Rocket Internet, the controversial German startup factory, could be raising $1.12 billion for a new venture fund.

A German business publication WirtschaftsWoche (WiWo) reported the news today, citing sources. That report was picked up by Tech.eu, which brought it to our attention.

Rocket, which went public last year, likes to take what it calls “proven” Internet business models and create its own startups around them. While the company argues that its process is an efficient and effective way to create startups for regions like Europe, Africa and Asia, its critics (typically in Silicon Valley), see it as just copying other people’s ideas.