By Steve O’Hear
Target Global, the Berlin-headquartered VC that has backed the likes of Auto1, Delivery Hero, Omio (formerly GoEuro) and Wefox, is opening up its first U.K. office — undeterred by Brexit uncertainty.
The U.K. expansion, which adds to Target’s Berlin, Tel Aviv and Moscow offices, was overseen by General Partner Yaron Valler. Two of the firm’s partners will be based in London. They are Malin Holmberg and Gilad Engel who will be supported by Venture Partner Rytis Vitkauskas along with back office and finance staff.
By expanding its reach to London, Target Global says it will continue to back “European innovations with solutions to global problems,” with the broader aim of connecting the various and often disparate hubs within the European ecosystem. With regards to the U.K. specifically, Target Global Partner General Partner Alex Frolov cites “engineering, deep tech and fintech” as particular strengths and areas the VC plans to invest.
To that end, Target Global currently has €700 million under management across Europe, investing primarily in SaaS, marketplaces, fintech, insurtech and mobility. The firm says it takes a “multi-stage approach” to the businesses it backs, following three active investment strategies: early-stage, growth and a dedicated mobility fund — which recently backed …read more
Source: Tech Crunch