German venture capitalist bucks trend with fundraising

German venture capital firm Target Partners has surprised the market with a first closing of its latest fund despite the moribund state of venture capital fundraising in Europe.

The first closing hit €61.3m ($91.2m) and the private equity house is hoping to raise €120m. A cap of around €130m is understood to have been imposed on the fund although Target declined to comment on the figure.

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