Target Partners Holds First Close

Target Partners, a Munich-based venture capital firm, has held a EUR 61.5 million first close on its second fund. The fund target is EUR 120 million. Limited partners include Morgan Stanley, LGT Capital Partners, Bayerische Beamten Lebensversicherung, RWB RenditeWertBeteiligungen AG and CS Strategic Partners. The firm's debut fund closed on EUR 112 million in 2000.

PRESS RELEASE 

Target Partners, a Munich-based venture capital firm, today announced the first closing of its new fund, Target Partners Fund II, at EUR 61.5 Million. Private individuals, family offices and institutional investors made commitments, including Morgan Stanley, LGT Capital Partners, Bayerische Beamten Lebensversicherung a.G., RWB RenditeWertBeteiligungen AG and CS Strategic Partners.

“We were convinced by the quality and professionalism of the team and the demonstrated success of Target Partners Fund I”, explained Mr. Jamey Sperans, Executive Director of Morgan Stanley Alternative Investment Partners. “Target Partners represents one of the most exciting opportunities to invest in Europe's resurgent venture capital sector which, in our view, compares quite favourably to opportunities we are seeing globally.”

“With Fund II, we are committed to continue the success we started with Fund I”, stated Kurt Mueller, Partner at Target Partners. Since the year 2000, Target Partners Fund I (EUR 112 Million) has invested in 17 young companies, of which 5 have been successfully exited so far.

The new fund, Target Partners Fund II, has a target size of EUR 120 Million.

“We plan to continue our successful strategy of investing in young technology companies with 'home run' potential for the fund”, continued Mueller. The fund will mainly invest in companies from the German speaking countries, with sectors including IT, communications, Internet, media and clean-tech.

About Target Partners

Target Partners is one of the leading early-stage venture capital funds in Germany. The firm invests in start-up and early stage companies and supports them during their build-out and expansion phases.

With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States.