Target Partners attracts private investors

25 individuals have invested in the Munich-based Executive Fund.

Target Partners, a venture capital firm based in Munich, has set up a venture capital fund that gives exclusive access to private investors.

The fund, called Executive Fund, is the first of its kind in Europe and is said to follow similar vehicles that operate in the US. Target Partners said in a statement that '25 internationally experienced and successful venture capitalists and entrepreneurs have each invested up to E1m'. How much capital was raised in total has not been disclosed.

Commenting on the initiative, Kurt Muller, a partner at Target Partners said: 'With the Executive Fund, we have not just gained a new source of capital but also an excellent network of contacts in Europe and the USA.'

Among the entrepreneurs invested in the fund, a majority are active in the IT sector. American venture capitalists to participate include Bill Egan of Alta Communications, Reid Denis of IVP and Jim Morgan, formerly at One Liberty.