Target Global News
13 articles
growth-negative
European venture firm's SPAC Target Global Acquisition I lowers deal size by 20% ahead of $200 million IPO
Target Global Acquisition I, a blank check company, has lowered the proposed deal size for its upcoming IPO. The company now plans to raise $200 million, 20% less than previously anticipated. It is focused on identifying European and Israeli technology companies and will list on the Nasdaq under the symbol TGAAU. UBS Investment Bank and BofA Securities are the joint bookrunners on the deal.
Public Trading
growth-positive
European venture firm's SPAC Target Global Acquisition I files for a $250 million IPO
Target Global Acquisition I, a blank check company formed by Target Global, plans to raise up to $250 million in an initial public offering (IPO). The company focuses on European and Israeli tech companies and aims to create long-term value through its managements expertise. The IPO will consist of 25 million units at $10 each, with each unit containing one share of common stock and one-third of a warrant. Target Global Acquisition I may also raise an additional $50 million through forward purchase agreements. The company is led by CEO Shmuel Chafets and CFO Heiko Dimmerling. It was founded in 2021 and intends to list on the Nasdaq under the symbol TGAAU, with Credit Suisse as the sole bookrunner.
Public Trading
growth-positive
This is where Target Global wants to invest its new €300m+ fund
Pan-European VC firm Target Global has reached first close on a new €300m fund, bringing the total assets under its management to €1bn. The firm aims to invest in fintech, SaaS, and wellness startups, with a focus on Europes emerging economies. Target partnered with UBS and secured commitments from various new LPs. The new fund will make initial investments of €10-20m and will target sectors such as fintech, SaaS-enabled marketplaces, Industry 4.0, and healthcare/wellness technologies. Target is also interested in companies outside of traditional innovation hubs and sees potential in emerging European economies. Berlin remains a focus for Target, with the firm expecting more success for startups in the city.
InvestmentExpand
FERI Group and Target Global Join Forces for New Growth Fund
growth-positive
Target Global has a €1M 'super seed' pot incoming to switch on laid off tech talent in Spain during COVID-19
Target Global and several Spains startup founders are allocating €1 million to support local tech talent laid off or furloughed due to the coronavirus crisis. The initiative aims to provide pre-seed financing to help crisis-hit tech workers switch gears and build out a startup concept. Target Global is contributing €500,000 from its early stage fund, while local founders are chipping in another €500,000. The initiative could initially support around 10 aspiring entrepreneurs. Applicants must be located in Spain and have some minimum amount of experience in startups or technology. The funds will cover living expenses and initial startup costs for four to six months. Target Global will be accepting applications through a landing page. The initiative is seen as a growth-positive move for the company.
LayoffsExpand
growth-positive
Target Global Invests in Teams and Markets, Not Products, Says General Partner
Delivery Hero SE co-founder Lukasz Gadowski spoke at a panel discussion during Calcalists WeTech Berlin 2020 conference. He mentioned that after the dot-com bubble burst, there were very few internet companies in Germany, creating a hunger for new business models and companies. Gadowski also highlighted that Delivery Heros market was initially small due to the lack of dedicated apps in 2010. However, with investment from Target Global, the company started to grow. Gadowski emphasized the importance of adjusting to local markets in the delivery sector, while Shmuel Chafets from Target Global mentioned the need for global potential. The panel also discussed Berlins ecosystem and how it attracted teams from Poland and the Czech Republic.
CustomersInvestment
growth-positive
Europe's Target Global raises new €120M early-stage fund
Target Global, a venture capital firm based in Berlin, has raised a new €120 million early-stage fund. The fund will be used to support early-stage tech companies across Europe and Israel. Target Global will continue to focus on startups disrupting European industries such as retail, financial services, food, mobility, healthcare, and manufacturing. The firm has a team of 50 people across multiple offices and currently manages over €800 million in assets. Additionally, Dr. Ricardo Schäfer has been appointed as a new partner for the firms Early-Stage Fund II, leading the London offices early-stage investments.
InvestmentManagement Changes
growth-positive
Pan-European VC fund Target Global is opening an office in Barcelona
Target Global, a pan-European VC firm, is opening an office in Barcelona to expand its presence in the European tech ecosystem. The firm plans to do between one and three deals per year out of the Barcelona office, focusing on early and growth-stage startups. Opening local offices allows Target Global to increase deal flow and build relationships with founders. Barcelona was chosen as the location due to its creative energy, strong mobile and SaaS sectors, and attractive Mediterranean location. Target Global has already invested around €20 million in four local portfolio companies in the past year. The expansion into Spain is seen as a growth-positive move for the company.
PartnersExpand
Be very hungry and confident about your business - Interview with Shmuel Chafets, General Partner at Target Global EU-Startups
growth-positive
Target Global, the Berlin-headquartered VC, opens London office
Target Global, a Berlin-based venture capital firm, is opening its first office in the U.K. despite Brexit uncertainty. The expansion aims to connect European innovations with global solutions and strengthen the European ecosystem. Target Global currently manages €700 million and invests primarily in SaaS, marketplaces, fintech, insurtech, and mobility. The firm plans to invest in U.K. startups disrupting European industries such as retail, financial services, food, mobility, healthcare, and manufacturing. Target Global views London as one of the worlds most innovative tech hubs and believes that opportunities will continue to exist regardless of Brexit. The company has previously backed U.K. startups Sharegain and Parkjockey. The expansion to the U.K. is part of Target Globals strategy to connect key European ecosystems and leverage their respective strengths.
PartnersExpand
growth-positive
Venture Capital Firm Target Global Raises Mobility Fund
Berlin and Tel Aviv-based venture capital firm Target Global is raising an investment fund of several hundreds of millions of dollars focused on mobility. The fund has already raised $100 million and has made four investments. Target Global is linked with leading auto parts companies in Germany and mobility and automotive-related startups in Israel. The company has $500 million under management and additional offices in San Francisco and Moscow. Portfolio companies include Blue Apron Holdings Inc. and Delivery Hero SE.
InvestmentPartners
growth-positive
Target Global announces $100 million fund to target mobility startups
Berlin-based venture capital firm Target Global has launched a new fund to target startups working to disrupt transportation. The fund has raised $100 million and plans to raise $300 million. Target Global is a family of different funds with $600 million in assets under management. The company has already invested in mobility startups such as Auto1, Delivery Hero, and GoEuro. The new fund will focus on investments in Europe and Israel, with a wide range of industry players as potential partners. Ben Kaminski, previously employed at Goldman Sachs, will join Target Global as a partner based in Israel.
InvestmentPartners
growth-positive
Target Global launches €100M fund focused on early stage startups in Europe and Israel
Target Global, an international VC firm based in Berlin, has announced the first closing of a new €100 million fund. The Early Stage Fund I will focus on investing in early stage startups in Germany and Israel, with some capital allocated for investments across the EU. Target Globals existing portfolio includes investments in software, marketplaces, and emerging sectors such as mobility, insurtech, AI, marketing automation, regtech, and fintech.
Investment
