Paris-based Partech, a global technology venture capital firm, has launched a new €360M fund called Partech Venture to support mission-critical software, data, and fintech experts in Europe.
The fund continues the focus of its predecessor, Partech International Ventures VII, by investing in companies driving digital transformation for both Enterprises and SMBs.
Partech has also revealed its initial investment in Italy-based Smartpricing, a Revenue Management System developed to grow the revenue of hotels.
Everything you need to know about the new fund
The Partech Venture team, led by Philippe Collombel and Reza Malekzadeh, includes international experts including Jean Sini, Simone Riva and Elena Moneta bring experience in operations and investing.
The team will offer support in various areas, including product, business development, go-to-market strategy, M&A, and fundraising, along with access to Partech’s specialised platform teams.
Philippe Collombel, General Partner and co-founder of Partech says, “We are continuing to build on the success of our previous venture, with experienced partners that have built a portfolio of leading European companies and we have added some new talent to increase our coverage of the best European deals.”
Partech Venture will target four key themes: application software, deep tech software (data & AI infrastructure, cybersecurity, DevOps), B2B & B2B2C vertical platforms, and dintech & insurtech applications.
The fund’s goal is to lead investments in 22 to 24 Series A / Series B stage European companies with recurring revenues ranging from €1M to €10M.
General Partner Reza Malekzadeh says, “We are essentially keeping the same investment strategy for our venture fund: we will seek to support promising category leaders that are striving for either European dominance or the potential to expand to the US.”
“We have only scratched the surface of the huge market potential arising from the digital transformation of European enterprises and SMBs.”
“European capabilities in creating mission-critical applications for productivity, digital infrastructure, data protection and cyber security, as well as tools that leverage data and AI, have dramatically improved over the last 10 years,” adds Malekzadeh.
Investors supporting Partech Venture
Partech Venture has garnered support from a diverse investor cohort, including Allianz France, BNP Paribas, Bpifrance, CDP Venture Capital, Edenred, FDJ Ventures, JCDHolding, and Lombard Odier.
Managing Partner Philippe Collombel says, “We are thrilled by the robust backing received by Partech Venture, a testament to the success of our prior fund, the effectiveness of our investment strategy, and the dedication of our team.”
“Already, half of the fund, €180M, has been committed, drawing support from a diverse range of investors.”
Investment in SmartPricing
Partech Venture has made its first investment by leading a €13M Series A round for Smartpricing, an Italian company specialising in revenue management software for hotels.
Founded in 2020, Smartpricing uses machine learning models and proprietary algorithms to optimise hotel pricing based on market data, saturation, price trends, and historical hotel performance.
Philippe Collombel notes that Smartpricing has significantly boosted the turnover of over 3,000 hospitality establishments by an average of 30 per cent, amassing 2 million bookings in three years.
“Extending its footprint, notably in Italy and the DACH region, Smartpricing is poised to emerge as the global leader in revenue management for small and medium-sized hospitality structures,” says Collombel.
The raised capital will help Smartpricing in team expansion, new product launches, and solidification of its position in the hospitality sector’s software and fintech vertical.
Brief about Partech
Partech is a global tech investment firm, founded 40 years ago. It is headquartered in Paris, with offices in Berlin, Dakar, Dubai, Nairobi, and San Francisco. The firm manages €2.5B in assets.
It offers capital, operational experience, and strategic guidance to entrepreneurs from seed to growth stage, with a diverse portfolio spanning 220 companies across 40 countries.
Earlier this month, Partech closed the first round of its Growth Impact Fund and invested in SustainCERT, a Luxembourg-based climate impact verifier. In September 2023, the tech investment firm rebranded with a new visual identity and strategic focus, highlighting its four-decade history in venture capital.
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