Target Global launches $100m fund to back mobility startups in Europe

Target Global, a Berlin-based venture capital fund with $600m assets under management, is looking to invest in next-generation mobility and transportation companies across Israel and Europe.

The fund can deploy a maximum of $300m in capital and will primarily focus on innovation and technology in automotive; private and public transportation; logistics and delivery; and related cross-services.

Alex Frolov, the general partner at Target Global, said mobility disruption would fundamentally transform our lives and upend business models.

To date the fund has backed companies such as Auto1, Delivery Hero, GoEurop, Dreamlines and WeFox and Frolov said: “We believe the time is now to double-down on this, with our goal being to become the preferred partner for both startups and strategic players in the space.”

Ben Kaminski will join Target Global as a partner to lead the new fund after spending more than a decade at Goldman Sachs in London, New York and Tel-Aviv, where he helped launch the firms’ global next generation mobility coverage effort and worked with many of the leading strategic players and startups across the mobility spectrum.

In addition to the dedicated team at Target Global, the new fund will build on a network of renowned advisors and leading industry experts in the fields of automotive, logistics and technology.