Target promotes new partner

Münnix replaces Olaf Jacobi, who left the firm in October last year to run Capnamic Ventures' new Berlin office.

Münnix joined Target in 2011 as an associate. He worked on investments in startups such as adsquare, a mobile audience targeting app, which raised a €3.4m series-A in October 2014.

In 1999, Münnix founded his own company, MX Application Development, a software development consultancy, which he ran for more than 12 years. He was also a software architect at Orimos Financial Analytics, a Berlin-based enterprise fintech startup, and worked at the Centre of Nanophotonics (CNP) on quantum cryptography.

Target claimed it has completed its most active year ever, investing €25m across 17 financing rounds. The VC currently has €300m under management and invests in technogy startups in Germany, Switzerland and Austria.

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