Prosper Project Gets $ 13 Million Investment From Target Ventures Fund

    Target Ventures, a Russian venture capital fund, made its first investment in the United States. Thus, the fund invested $ 13 million in the Prosper P2P platform. At the same time, the fund acquired shares through several secondary transactions, writes Rusbase. The deal was announced by Mikhail Lobanov, co-founder and managing partner of the Target Ventures fund.

    Prosper is one of the leaders in the p2p lending market in the USA. In March this year, the service’s turnover amounted to about $ 200 million. The p2p lending market in the USA is constantly growing, by about 77.5% per year, starting in 2009. The total amount of loans issued by these services in 2014 in the United States amounted to more than $ 6.6 billion.

    In addition to the investment, the fund also announced the opening of an office in San Francisco. The company intends to invest in rounds B, C and above (we are talking about amounts from $ 1 million to $ 30 million).

    “The Russian market is simply not big enough. In addition, there are too few companies in Russia that could become buyers of startups, ”Mikhail Lobanov said.

    The fund will be managed by Andrei Kazakov, who previously managed the Foresight Ventures fund.

    The fund intends to expand its presence in Europe, in particular in Germany. Target Ventures is now operating in Europe, and the fund's portfolio includes Delivery Hero delivery service. Last year, the fund withdrew from the German Fyber project, with a yield of 200%.

    The total capital of the fund is $ 300 million.

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