image credit : Rocket Internet

European major Internet company and investor Rocket Internet, The firm behind the growth of several global internet startups including Jumia, Home24, Delivery Hero, Nestpick, HelloFresh and the Global Fashion Group among others has now been reported to be planning a new Billion dollar investment fund to be focused on startups in the U.S. region making it a major play for Rocket Internet which does most of its business outside the region.

As penned by Bloomberg citing a person familiar with the situation, The fund is targeted to be in the  $1-$2 Billion range and could be closed as soon as December for Rocket to start delivering new investments.

The investment fund is earmarked to be lead by Global Founders Capital partner and former Airbnb executive Don Stalter along with Rocket Internet’s Senior Vice President for Investments Soheil Mirpour who also holds a Senior Director position at Global Founders Capital.

Rocket has long been known to fund and incubate various startups across the European, Asia Pacific and Middle East global regions with the company investing and scaling startups making use of business models very similar to those of U.S. companies. Rocket now heading to the U.S. stands as a very significant move for the German based company which went public 4 years ago.

Rocket now trades on the German stock market and is currently valued at about $5.4 Billion, Rocket raised $1.8 Billion in its IPO debut and has since been making several and much more investments into various internet startups.

Other notable members of its portfolio include Zen Rooms, Carmudi, Lyke, InstaFreight, Global Savings Group, Kaymu, Printvenue and several others.