Cherry Ventures raises a new $500M fund for early stage and beyond, but will it be enough?

It’s sometimes said that European VC doesn’t have the firepower to compete with VCs in the U.S., which regularly raise billion-dollar+ funds these days. Perhaps further evidence of this view persists in the news that Berlin-based Cherry Ventures has closed its latest fund at $500 million, to be split between early-stage rounds and follow-on rounds at Series B and beyond.

A statement from Cherry laid out its ambition. It wants to use this fund to help build the “first trillion dollar company in Europe.” With this, it called for the reversal…