Hitting the Target

Private individuals, family offices and institutional investors made commitments, including Morgan Stanley, LGT Capital Partners, Bayerische Beamten Lebensversicherung, RWB RenditeWertBeteiligungen AG and CS Strategic Partners.

Jamey Sperans, executive director of Morgan Stanley Alternative Investment Partners, said of the fund: “We were convinced by the quality and professionalism of the team and the demonstrated success of Target Partners Fund I. Target Partners represents one of the most exciting opportunities to invest in Europe’s resurgent venture capital sector which, in our view, compares quite favourably to opportunities we are seeing globally.”

The new fund, Target Partners Fund II, has a target size of €120m. The team will continue its successful strategy of investing in young technology companies with ‘home run’ potential for the fund and will mainly invest in companies from German speaking countries in sectors including IT, communications, Internet, media and CleanTech.

Since 2000, Target Partners Fund I (€112m) has invested in 17 young companies, of which 5 have been successfully exited so far.