Paris-based Partech, a VC firm that invests in Internet and information technology startups at Seed, venture, and growth stages, announced the closing of Partech Growth II fund at €650M. The current fund is significantly above the Partech Growth I fund that was raised in 2015 at €400M.
Despite a remote fundraise due to the pandemic, the fund was backed by more than 45 institutional investors, endowments & foundations, pension funds, life insurers, asset managers and fund-of-funds, and 40+ prominent family offices, entrepreneurs, and business angels, from 10 countries in Europe, North America, and Asia.
Omri Benayoun, General Partner at Partech Growth, says, “We’re humbled and grateful for the support of, and commitment from, our global investors. It allows us to continue to deliver meaningful and strategic assistance to the outstanding community of European tech entrepreneurs who decide to welcome us on their journey.”
Partech invests in 5 startups
The VC firm plans to continue backing digitally native scale-ups that aim to become the next generation of Europe’s Fortune 500, spanning enterprise and SMB software, consumer brands, healthcare, financial services, education, and other frontier technologies.
With Partech Growth II, the team will double down on its existing investment strategy and claims to partner with 12 – 15 exceptional companies writing check sizes between €20 to €70M.
Besides, Partech also reports that the fresh capital has already been invested in five companies in the Czech Republic, France, the Netherlands, and Sweden. These include:
- Rohlik: a Prague-based online grocer with full end-to-end operations including procurement, fulfilment, and last mile delivery
- Skello: a Paris-based online scheduling and personnel management SaaS tool
- Rouje: a Paris-based ultimate French digital native brand of women’s fashion
- Studocu: an Amsterdam-headquartered knowledge sharing platform used by more than 15 million students in higher education globally
- Billogram: Stockholm-based integrated customer experience, bill and payment platform for large B2C enterprises
Bruno Crémel, General Partner at Partech Growth, adds, “We are excited to build conviction on and partner with even more ambitious founders across Europe, working with them to achieve their maximum potential. We’ll continue to leverage our years of operational and entrepreneurial expertise to provide them with hands-on support as they scale their way to global leadership.”
Partech is a global investment platform for tech and digital companies, led by ex-entrepreneurs and operators of the industry spread across offices in San Francisco, Paris, Berlin, and Dakar. The firm brings together capital and resources to support entrepreneurs at Seed, venture, and growth stages in Europe and North America, with a growing presence in Africa and Asia.
Partech’s current portfolio includes more than 200 companies in more than 30 countries, of which 12 are valued at more than $1B – these include Alan, Bolt, Cazoo, Jellysmack, Made.com, ManoMano, People.ai, Rohlik, Sorare, Toss, Wave, and Xendit.
With €2B under active management, Partech is consistently ranked among the top 10 VC funds worldwide and number one in Europe by Preqin, the leading independent research organisation.