Venture Capital Firm Target Global Raises Mobility Fund
The Berlin and Tel Aviv-based firm intends to raise several hundreds of millions of dollars for the fund, looking to harness its ties with German automotive companies and Israeli mobility startups
Berlin and Tel Aviv-based venture capital firm Target Global is raising an investment fund of several hundreds of millions of dollars to be focused on mobility, Shmuel Chafets, a general partner at Target Global told Calcalist in an interview last week.Founded in 2012, Target Global invests in early stage and growth stage companies and has $500 million under management. The company has additional offices in San Francisco and Moscow. Portfolio companies include New York-listed cooking ingredients delivery company Blue Apron Holdings Inc., and German food delivery company Delivery Hero SE.
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The fund has already raised $100 million in July and has since made four investments, Chafets said.
Shmuel Chafets, a general partner at Target Global. Photo: PR
“Mobility is trending because it is a huge industry undergoing a fundamental change,” he said. Target Global is linked with leading auto parts companies in Germany and mobility and automotive-related startups in Israel, he added.
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Chafets and Yaron Valler, also a general partner at the firm, will represent Target Global at Calcalist’s WeTechBerlin conference, to be held in February. Target Global is a partner at the event.