Delivery Hero and Blue Apron investor Target Global launches $100m tech fund to find the next Uber

German venture capital fund Target Global has launched a $100m (£74.7m) tech fund with a focus on innovation in mobility and transportation.

With investments to be spread across startups in Europe and Israel, the fund is set to run indefinitely and can deploy up to $300m in capital, satisfying investor need for long-term interest in mobility disruption.

Target has said that its primary focus will be on tech startups sitting within automotive, private and public transportation, logistics and delivery.

Read more: Uber gears up to launch electric bikes across Europe after Jump acquisition

“We are focusing on startups across Europe and see the UK as one of the key hubs for investment with a large number of mobility startups disrupting transportation, freight and logistics” said general partner Alex Frolov in a statement to City A.M.

“We believe the time is now to double-down on this, with our goal being to become the preferred partner for both startups and strategic players in the space.”

With more than $600m in assets under management, the venture capital firm has seen some great successes in recent years, with previous investments in startups like meal-kit delivery service Blue Apron and online takeaway marketplace Deliver Hero going public in 2017.

Other exits include adtech startup Fyber, ride-sharing app Juno and German online insurance marketplace Clark, which closed a $29m Series B funding round with Portag3 Ventures and White Star Capital in April.

Target has also announced today that Ben Kaminski, a former executive director for Goldman Sachs’s technology, media and telecoms effort across London, New York and Tel-Aviv, will be leading the fund.