Hitting the Target

Munich-based venture capital firm Target Partners has reached a first close of its new fund, Target Partners Fund II, at €61.5m.

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.

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 in German speaking countries in sectors including IT, communications, Internet, media and CleanTech.