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Serial Entrepreneur Stracke supports Target Partners

Munich, July 4, 2011: Tim Stracke (37), CEO of Chrono24 GmbH, has joined Munich venture capital firm Target Partners (www.targetpartners.de) as a Venture Partner. At Target Partners, the serial entrepreneur and business angel will focus on startups and business concepts in the areas of ecommerce and software.

“I look forward to helping Target Partners build up a network with key Web and software companies in the Frankfurt Rhine-Main region and the Karlsruhe area, with the goal of identifying promising investment opportunities,“ said Stracke.

Since 1999, Stracke has co-founded, led and sold a number of Internet companies (e.g., mentasys GmbH, Wohnen im Alter GmbH). He has also been active as a business angel, taking shares in Internet startups and advising company founders on strategy, finance and marketing/sales. Since 2010 he has also served as Co-CEO of Chrono24 GmbH, an Internet platform for luxury watches, where he took on the role following a management buyout of the company. Stracke, who has a degree in industrial engineering and management, also continues to support and advise Internet startups and is active on various supervisory and executive boards.

“With the addition of Tim Stracke, we continue to expand our venture partner program at Target Partners. Tim brings extensive entrepreneurial and business angel experience and has an excellent network in the German ecommerce scene,” said Berthold von Freyberg, Partner at Target Partners. About Target Partners: With EUR 225 million under management, Target Partners is one of the leading early-stage venture capital funds in Germany. The firm invests in start-up and early stage companies and supports them during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States. For more details: www.targetpartners.de

Press contact Target Partners:

Sprachperlen GmbH Agentur für Unternehmenskommunikation Helena Horak Am Glockenbach 3 80469 Munich Tel.: +49 (0)89 411 53 199 Fax: +49 (0)89 411 53 200 Mail: helena.horak@sprachperlen.de

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Years of combined experience in software development and R&D