Target Global gathers 100 mln euros for mobility fund

Berlin-based venture firm Target Global has raised 100 million euros for a new fund focused on mobility innovation in Europe and Israel. Ben Kaminski will join Target Global as a partner to lead the fund after previously working at Goldman Sachs.

Correction: An earlier headline and report of this news item misstated the amount raised for this fund. It has since been corrected. 

PRESS RELEASE

Berlin, June 6, 2018 – Target Global, a Berlin-based international venture capital fund with $600m assets under management, is launching a dedicated fund to invest in next-generation mobility and transportation.

Its unique evergreen structure means that, unlike traditional VC funds that have a fixed end-point, this one will run indefinitely. The fund can deploy up to $300m in capital, providing investors with a long-term interest in disruptive changes across the entire mobility spectrum. The primary targets for investment will be European and Israeli startups that focus on innovation and technology in automotive, private & public transportation, logistics & delivery and related cross-services.

“At Target Global we strongly believe that mobility disruption will fundamentally transform our lives and upend business models”, said Alex Frolov, General Partner at Target Global. “In recent years we have invested in startups that are bringing innovation to the way people and goods move, including Auto1, Delivery Hero and GoEuro. We believe the time is now to double-down on this, with our goal being to become the preferred partner for both startups and strategic players in the space.”

Ben Kaminski will join Target Global as a Partner to lead the new fund after over a decade at Goldman Sachs in London, New York City and Tel-Aviv, where he helped launch the firms’ global next generation mobility coverage effort and worked with many of the leading strategic players and start-ups across the mobility spectrum.

In addition to the dedicated team at Target Global, the new fund will build on a network of renowned advisors and leading industry experts in the fields of automotive, logistics and technology.

About Target Global
Target Global is an international Venture Capital firm headquartered in Berlin, with $600 million in assets under management. Connecting the key European startup ecosystems, we leverage the unique DNA of each of our target geographies, across our global network. Building on our experienced team with substantial operational and investment experience, we help exceptional entrepreneurs to build market leaders. Target Global follows a lifecycle approach, investing in fast-growing online platforms, targeting trillion $ markets. Our partners have been investing for more than 15 years in the digital technology space, backing some of the European success stories. The Target Global portfolio includes companies such as Auto1, Delivery Hero, GoEuro, Dreamlines and WeFox. Read more: https://www.targetglobal.vc/