Target Global closes €100 million early stage investment fund

Berlin-based VC firm Target Global has closed its latest fund of €100 million to invest in early stage companies.

The Target Global Early Stage Fund I will invest in tech companies at the seed and Series A round, mainly in Germany and Israel with some other EU investments, and is expected to back up to 20 companies.

It will seek startups in verticals like fintech, regulation tech (regtech), insurance tech (insurtech), AI, and marketing automation, and is managed by Yaron Valler, Shmuel Chafets, Alexander Frolov and Mike Lobanov.

The fund will connect the ecosystems of Berlin and Tel Aviv, said Chafets.

“Target Global’s ES Fund will serve 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,” he said.

“The fund will concentrate on software and marketplace startups that have great potential to scale fast in the changing financial environment - mainly focusing on B2B opportunities in fintech. We will definitely look at startups dealing with blockchain and cryptocurrencies,” added Lobanov.

The firm, which has $500 million in assets under management, is based across Berlin, Moscow, Tel Aviv, and San Francisco. Other investments include Delivery Hero, Blackmoon, and DocPlanner.

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