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Germany’s Deutsche Telekom has launched an enormous venture capital fund, totalling €500 million ($621 million) over five years, that’s aimed at newer startups and more mature companies. The fund will be run by a new company called Deutsche Telekom Capital Partners (DTCP) rather than the telco’s existing T-Venture arm, which will still retain responsibility for follow-up investments in its hundred-or-so existing portfolio startups, but will be otherwise closed to new investments. DTCP will have a “special focus” on German startups, and will launch in early 2015. People love to whine about the lack of startup funding in Europe, but in truth the last couple years have seen billions of euros put on the table to support local scenes.