Target Partners Fund II closes on EUR113m

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Fund

Venture capital firm Target Partners has held the final closing of Target Partners Fund II on EUR113m, just below its original target of EUR120m. The fund is structured as a German GmbH & Co KG and has a lifespan of 10+2 years. SJ Berwin provided legal advice.

Investors

Among the investors are institutional clients including Bayerische Beamten Lebensversicherung, CAM Private Equity, Capital Dynamics, Etera Mutual Pension Insurance Company, Invesco Asset Management, LGT Capital Partners, Morgan Stanley Alternative Investment Partners, RWB AG and a number of family offices.

Investments

Target Partners will invest in about 20 technology companies operating in IT, Internet, media, semiconductors, telecommunications, alternative energies, cleantech, microtechnologies and nanotechnologies; mainly in Germany, Austria and Switzerland. The fund will invest between EUR1m-3m in a first round of financing and provide EUR5-8m in total. The fund can co-invest.

The latest investment was a seed round in Scoreloop AG (see page 29).

People

The four partners, Berthold von Freyberg, Waldemar Jantz, Kurt Muller and Olaf Jacobi are supported by a team of four.

Name: Target Partners Fund II

Closed on: EUR113m

Focus: Venture, technology, DACH

Contact: Olaf Jacobi

Address: Target Partners GmbH

Kardinal-Faulhaber-Strasse 10

80333 Munich

Germany

Advisers