German venture capital firm Target Partners raises €113m fund focusing on new technologies and renewable energy

28 April 2009

Munich-based venture capital firm Target Partners has held a final closing of its Target Partners Fund II on €113m.

Among the investors are institutional clients including Bayerische Beamten Lebensversicherung, CAM Private Equity, Capital Dynamics, Etera Mutual Pension Insurance Company, Invesco Asset Management, LGT Capital Partners, Morgan Stanley Alternative Investment Partners, RWB AG and a number of family offices, the firm said.

‘We are planning to invest the funds in about 20 technology companies in the areas of IT, internet, media, semiconductors, telecommunications, alternative energies, cleantech, microtechnologies and nanotechnologies,’ said Berthold von Freyberg, partner, Target Partners. ‘As with our previous fund, we expect to mainly invest in Germany, Austria and Switzerland.’

‘In spite of the current economic crisis, this is the right time to found new companies and invest in startups,’ added von Freyberg. ‘When the crisis passes, those companies that have developed products that they can successfully sell into an expanding market will have a distinct competitive advantage. Thanks to our long-term investment strategy, we see the current economic situation as a huge opportunity for the future.’

With €225m under management, Target Partners invests in start-up and early stage companies and supports them during their build-out and expansion phases.

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Tags: cleantech, venture capital

This story was published on Tuesday, April 28th, 2009 at 1:13 pm and is filed under Europe, energy efficiency, funds. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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