The VC Firm That Brokered An Oligarch’s Investments

Venture capital fund Target Global managed tens of millions of dollars for Roman Abramovich and helped the now-sanctioned oligarch build up stakes in some of Europe’s biggest startups.

Russian oligarch Roman Abramovich quietly invested $63 million in a string of European startups through his relationship with London-based venture firm Target Global, according to a cache of documents reviewed by Forbes. The venture capital fund, which has raised over $3.2 billion of capital and backed at least 15 European tech unicorns including fintech Revolut and car marketplace Cazoo, counted on Abramovich as a co-investor and limited partner from 2015 to 2021, the documents show. The U.K. later sanctioned the oligarch in March 2022 over Russia’s invasion of Ukraine.

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