COMPANY

Target Partners

Target Partners is a early-stage venture capital firm focused on DACH technology startups.

Analyst Perspective

Target Partners GmbH is a private venture capital firm based in Munich, Germany. It invests in early-stage technology companies, with explicit geographic focus on Germany, Austria and Switzerland. The firm reports €300 million under management and positions itself around backing young technology businesses from the early stages of company building. Its customers are fund investors seeking exposure to early-stage technology and founders seeking institutional capital and venture support. The business generates revenue through fund management economics, principally recurring management fees on committed or managed capital and performance-based carried interest tied to investment exits and portfolio value creation.

Analyst Signal Briefing

Updated: 30 Jul 2026

No strategic news signals detected in the last 90 days.

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Category Differentiation

Target Partners is a venture capital firm, not a marketing agency, adtech platform or enterprise software vendor. It invests in startups rather than selling software or media services directly.

Target Partners: About

The company operates as a venture capital manager. It raises and manages investment funds, deploys capital into early-stage technology companies, supports portfolio development and seeks returns through exits, follow-on rounds and appreciation in portfolio company value. Value creation depends on sourcing proprietary deal flow, selecting high-upside startups and converting portfolio growth into realised investment returns.

How Target Partners Works & Monetises

Business model analysis and core revenue streams

The firm monetises through venture fund economics: recurring management fees for administering invested capital and performance-based carried interest from profitable exits. Its commercial model is not SaaS or transaction software; revenue is tied to assets under management and investment performance over the fund lifecycle.

Revenue Channels

Fund management feesRecurring fee on assets under management
Carried interestPerformance-based share of fund investment gains

Recent Signals (Target Partners)

AdzineOct 29, 2014

Targetinganbieter adsquare gewinnt weiteren Investor

Adsquare, a platform provider for mobile audience targeting, secured 3.4 million euros in a Series A funding round led by Target Partners, with participation from existing investors. The round aims to accelerate growth and international expansion, with BFB Frühphasenfonds Brandenburg and Berlin Ventures also backing the company. Adsquare’s technology connects offline consumer behavior with digital advertising by analyzing real-time, anonymized location data from billions of data points to infer interests. As an official data partner of AppNexus, the company can enrich billions of daily requests via networks such as MoPub, Smaato, and PubMatic, enabling more precise targeting at scale. Early campaigns have been run for Vodafone, Europcar, HRS, and Deutsche Bahn. Founders Tom Laband (CEO) and Sebastian Doerfel (COO) emphasize precise audience definitions, while Target Partners’ Olaf Jacobi highlights demand for targeted capabilities amid device fragmentation and cookie restrictions. Adsquare holds an ePrivacy seal and collaborates with networks, publishers, and RTB platforms.

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AdzineMar 24, 2011

NEXT Elevator Pitch

Applications for the NEXT Elevator Pitch begin today as part of the NEXT Conference. The program offers young startups a chance to present their idea to a jury of national and international startup leaders. The jury includes Ola Ahlvarsson (Result), Marco Börries (NumberFour AG), Maks Giordano (juuman´okudo), Stefan Glänzer (White Bear Yard), Olaf Jacobi (Target Partners), Christoph Räthke (Founder Institute), Boris Veldhuijzen van Zanten (The Next Web), Alexander von Frankenberg (High-Tech Gründerfonds), and Sarik Weber (Hanse Ventures). Startups must have been founded within the last year, with a focus on viable business models in the Internet and E-Commerce space. Interested teams can also vote for their favorite startups, with voting open until 17 April. The winners of the voting will be invited to pitch at NEXT 2011, creating opportunities to connect with investors and multipliers in the ecosystem.

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Target Partners: Frequently Asked Questions

What is Target Partners?

Target Partners is a private early-stage venture capital firm based in Munich that invests in technology companies across Germany, Austria and Switzerland.

Who uses Target Partners?

Its direct users are founders and management teams seeking venture capital, and limited partners allocating capital to early-stage technology funds.

How does Target Partners make money?

It makes money through recurring fund management fees and carried interest earned from successful portfolio investment exits.

Company Facts

Founded
1999
Headquarters
Paul-Gerhardt-Allee 50, 81245 Munich
Core Segment
Private Equity, VC & Investor
Company Size
10–49
Official Link
targetpartners.de