Despite the constanct conflict with the separatists and ongoing riots and protests everywhere due to the announced imprisonment of nine catalan politicans Berlin headquartered investment firm Target Global has announced the opening of a new office in Barcelona, confirming the company’s commitment to significantly increasing its activity in the city and across Spain. Over the last 12 months the Germans have invested about €40m. The biggest stakes are TravelPerk, Badi, Doc Planner and Mediquo.
Target Global was founded in 2012 and is led by Shmuel Chafets, Alex Frolov, Mike Lobanov, and Yaron Valler. The firm manages over EUR 700 million in dedicated Early Stage, Growth Stage, and Mobility funds – investing across Europe and Israel in SaaS, marketplaces, fintech, insurtech, and mobility.
The company believes that Spain is one of the most promising ecosystems for the next few years, in particular, Madrid and Barcelona. They see the Spanish capital as the largest metropolitan area in Southern Europe and as a center for research and technology for the country . They also stress the high number of computer developers that live in Spain.
With regard to Barcelona they say that it is a great place to live and a very creative city. The company sees great Spanish companies around which build products and provide solutions in sectors such as SaaS, HealthTech, marketplaces, FinTech. For the Germans Spain is also interesting due to its natural second market in South America and in the US, because Spanish is the second most commonly spoken language in America.