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Partech Launches €360M Venture Fund

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Partech, a Paris, France-based tech investment firm, launched its €360M venture fund.

Partech Venture added a diverse cohort of investors ranging to sovereign funds and leading multinational corporates, including the likes of Allianz France, BNP Paribas, Bpifrance, CDP Venture Capital, Edenred, FDJ Ventures, JCDHolding, and Lombard Odier Investment Managers.

The firm will invest across four key themes: Application Software, Deep Tech Software (Data & AI Infrastructure, Cybersecurity, DevOps), B2B & B2B2C Vertical Platforms and Fintech & Insurtech Applications. The thesis remain to lead investment in 22 to 24 Series A / Series B stage European companies, which have from €1 to €10M recurring revenue.

The investment team, led by Philippe Collombel and Reza Malekzadeh, is enhanced by experienced international team members including Jean Sini, Simone Riva, and Elena Moneta. The team also includes Nikhil Punwaney, who joined in Q3 2023. Together, they bring extensive experience as operators and investors, combining a highly technical, international, and business-oriented approach. They will leverage their expertise in Product, Business Development, Go-To-Market, M&A, C-Level Hiring and raising capital to support the portfolio companies of the new fund.

The first company backed was Smartpricing.

Partech Venture is the successor fund of PIV VII. With its venture strategy, Partech has backed global category leaders including:

  • ABTasty (AI-driven customer experience optimization platform),
  • Agicap (Cash-flow monitoring & forecasting platform),
  • Akeneo (Product Information Management & Product Data Intelligence software),
  • Bitrise (Mobile DevOps Software platform),
  • Compte Nickel – acquired by BNP Paribas – (The first Phygital Neobank),
  • Fresha (Vertical ERP for the beauty industry),
  • Guardicore – acquired by Akamai – (Micro-segmentation and workload protection solutions for datacenters),
  • Kantox – acquired by BNP Paribas – (FX risk management automation software),
  • ManoMano (B2C and B2B vertical DIY marketplace),
  • Medigate – acquired by Claroty – (Cybersecurity platform for medical devices),
  • Memfault (IoT reliability platform),
  • Odaseva (Data governance & security platform),
  • Papernest (Smart solution to manage contracts and subscriptions),
  • Platform.sh (Global DevOps infrastructure platform),
  • Shippeo (Supply-chain real-time visibility platform).

Since the end of 2021, Partech has realized 11 exits generating at least a 3x multiple on invested capital, including 6 from the venture portfolio, with 5 exits above 5x. The firm is headquartered in Paris, with offices in Berlin, Dakar, Dubai, Nairobi, and San Francisco.

VCWire

19/12/2023