Paris-based venture capital firm Partech has announced the close of fundraising for its new growth fund. Partech Growth II is the company’s second growth fund. And the team managed to raise $ 750 million.
As a reminder, Partech Growth I was a smaller fund with 400 million euros under management, which represents 460 million dollars at today’s exchange rate. Partech closed Partech Growth I in 2015.
For today’s fund, support comes from 45 institutional investors, such as endowments, foundations, pension funds, life insurers, asset managers and funds of funds. . About forty family offices, entrepreneurs and business angels also participated directly in the new fund.
Partech has already started to deploy part of the fund in technology companies. Portfolio companies include Rohlik, a grocery delivery company from the Czech Republic (more details in Ingrid Lunden’s article), Skello, a work-as-a-service scheduling software tool (more in my separate article), Studocu, a grade sharing platform for college students (Ingrid also covered this here), and the Billogram recurring payment platform (no more Ingrid).
“We are touched and grateful for the support and commitment of our global investors. This allows us to continue to provide meaningful and strategic assistance to the exceptional community of European technology entrepreneurs who decide to welcome us on their journey, ”said Omri Benayoun, general partner of Partech Growth, in a statement.
Partech plans to invest in many different verticals, both corporate and consumer businesses, across multiple industries. The firm plans to invest in 12 to 15 companies with an average check ranging from $ 22.4 million to $ 78.4 million (€ 20 million to € 70 million).