European venture capital firm supports successful track-record in Germany with a permanent office and seed investments in an array of exciting start-ups
Target Global is today announcing the opening of a new office in Berlin to be run by general partners Yaron Valler and Shmuel Chafets, who joined the firm in 2015. Yaron and Shmuel collectively hold more than 20 years of investment experience and will be identifying investment opportunities across Europe with a focus on Germany and Israel and also in North America.
Along with opening a new office, Target Global has supported its presence in Germany with seed investments in online rental platform nestpick, online insurance broker Clark and online real estate agents McMakler. Target Global also recently finalised its seed investment into Missbeez, an Israeli start-up providing on-demand beauty services.
Both Yaron and Shmuel bring rich and successful careers in venture capital to Target Global, supporting the firm’s global network. Yaron has invested in companies including Panaya (sold to Infosys), Fyber (sold to RNTS Media), led the Series A and B rounds for GoEuro and was one of the first investors in Delivery Hero. Shmuel’s successful investments include iZettle, Hansoft and DreamLines, where he held a position on the board. Shmuel also founded GPV, a pioneering venture investment vehicle in Warsaw with a special focus on software and internet security technology.
Yaron Valler says: “Target Global is at an exciting stage of its evolution and already has a superb track record of backing impressive consumer internet and financial technology firms. I am very excited by this opportunity to draw on my experience and build a bridge for European start-ups wanting to access global markets, especially in North America. I certainly believe Target Global is a significant global investment partner for exceptional businesses.”
Shmuel Chafets comments: “What Target Global offers to the European venture capital industry is experience and connection to the most interesting start-up market outside of the Valley, Israel, which boasts a remarkable concentration of talent and breadth of innovation. Along with its exceptional global network, the firm can also take a company from seed through to much later Series investment with its impressive fund structure. I am very excited to be able to support the best entrepreneurs on the planet with Target Global.”
Alexander Frolov, partner, Target Global says: “The opening of a Berlin office is a significant development for Target Global, increasing our sphere of influence and broadening our already large global network. As a firm we have made a number of significant investments in Germany including Delivery Hero, GoEuro, Book A Tiger and DreamLines, so opening this office demonstrates our commitment to the abundance of new ventures that are being created across the country. With investors of the quality of Yaron and Shmuel running the office we are confident that our investors will secure opportunities to back the finest European start-ups.”
Target Global currently manages more than $300 million in assets, divided between its growth fund targeting Series B and later investments and also its Seed Stage fund for seed and early Series A investments.