Early Stage Fund of €120M Raised by Target Global
Innovation | March 5, 2020
According to its General Partner and Vice-Chairman, the European venture capital firm Target Global has raised around €120 million for early-stage funding after just 3 months focus on fundraising.
The company, based in Berlin, has said that the funding will enable them to continue to back European and Israeli companies in seed and Series A funding rounds.
Alongside its dedicated mobility fund and later-stage growth funding, this brings Target Global's assets to €800 million under management.
The company is planning to stick to the same strategy for both funds in terms of the size of the investment and how the money will be used. The fund is oversubscribed but Target Global has said that it will remain set at €120 million, which they believe represents the optimal for early-stage investment with Europe.
Maintaining the limit will also help ensure that the early-stage companies get as much attention as they need and will be able to deliver the proper return on investment.
Targeting Large Markets
The current team at target Global numbers 50 people based in London, Berlin, Moscow, Tel Aviv, and Barcelona. The company will focus on the type of startups that will be disrupting the multi-trillion European industry.
The main sectors of interest include retail, healthcare, manufacturing, and food. Technology such as SaaS, e-commerce, AI and online market places are likely to play a key role.
Some of the company’s existing investments include front-runners like TravelPerk, Payd, AutoI, Wefox and Delivery Hero.
Target Global specifically looks to invest in those companies that have experienced teams and are looking to target large markets. While accepting that early stage Start-ups are still in their formative stages, they are always looking for founders who are likely to go the distance.
In the meantime, the company has appointed Dr Ricardo Schäfer as a new partner. He will be based in the London Office and be leading investments for Early-Stage Fund II.
Schäfer is a well known early-stage Angel investor with a specific focus on prop-tech and fintech. Target Global is enthusiastic about his hands-on approach and feels sure that his entrepreneurial style will fit in well with the company ethos, strategy, and culture.