Pan-European VC firm Target Global has reached first close on a new €300m fund, with the firm looking to invest in fintech, SaaS and wellness startups.
The new fund, which is one of five currently operating at Target, brings the total assets under its management to €1bn. The firm hopes to close the fund at €400m by the summer and is looking to Europe’s emerging economies for investment opportunities, in addition to its core markets of London, Berlin and Tel Aviv.
To secure the new fund, Target partnered with UBS, the Swiss wealth management firm, which introduced clients to the fund. In addition to UBS, Target secured commitments from a range of new LPs, including FERI, as well as European hotel companies and real estate businesses, according to the fund.
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