Target Global — an international VC firm based in Berlin — has announced today the first closing of a new €100 million fund.
Focused on early stage startups, the firm’s Early Stage Fund I will invest in both seed and A rounds. It is expected to invest in up to 20 companies throughout the life of the fund.
Run out of Target Global’s main office in Berlin, the fund will concentrate on investing in startups located in Germany and Israel. While the lion’s share will go to early stage startups in those two regions — which are personified by the fast-growing and important startup hubs in Berlin and Tel Aviv — it will also allocate some capital for investments across the EU.
“Both cities are dynamic tech hubs and each brings a unique skill-set to the table,” Shmuel Chafets, general partner at Target Global, said. “Target Global’s ES Fund will as a bridge connecting Tel Aviv and Berlin with the aim to unite Israel’s innovative mindset with Germany’s excellence in business execution and operations to augment the overall impact.”
Target Global’s existing portfolio includes investment in both software and marketplaces, as well as emerging sectors such as mobility, insurtech, AI, marketing automation, regtech, and fintech.
With more than $500 million in assets under management and offices in Berlin, Tel Aviv, San Francisco, and Moscow, Target Global focuses primarily on fast-growing, digitally enabled B2C and B2SMB companies in fintech, travel, software, and mobile communications. Since 2012 it has invested in more than 40 companies including Delivery Hero, Blue Apron, Juno, WeFox, and Lemoncat.