Partech Ventures closes seventh VC fund at EUR400m hard cap
Partech Ventures has held the final closing of its seventh venture fund at its hard cap of EUR400 million. The oversubscribed fundraising attracted commitments from thirty European and US investors along with business angels, entrepreneurs and tech executives.
All previous investors renewed their support, and new leading international players joined them, accounting for half of the investors of the round.
The fund is positioned for series A or B financing rounds. It has already made nearly ten investments in Europe and the United States, including Chronext (Cologne), Qapa (Paris), Akeneo (Boston/Nantes), A/B Tasty (New York/Paris), Rinse (San Francisco), and Toss (South Korea).
Investments across the Partech platform range from EUR200,000 in seed to EUR40 million in growth and meet all financing needs of the best innovative startups, regardless of their development stage. The investments cover the entire scope of emerging technologies which are shaping the future of major industries, such as applications, software and cloud computing, artificial intelligence, consumer electronics, robots and components, industry of the future, virtual reality, blockchain, drones, mobility, cybersecurity, networks and infrastructure, etc.
The operations are driven by 12 General Partners in the San Francisco, Paris and Berlin offices, which are staffed by a total of 45 professionals. Partech's long-term presence in the United States, dating back to 1982, has since been strengthened, and now numbers five investors including three General Partners and a Venture Partner.
Partech Ventures' accelerated growth and the considerable trust shown by international investors reflect the maturity of the European venture ecosystem.
From 2012 to 2016 the number of venture investments in Europe grew by more than 20 per cent annually (source: tech.eu). Apart from the UK, which remained stable over this period (+0.5 per cent annually), continental Europe saw the number of investments increase by more than 40 per cent per year. In 2016, France became the most active European country in tech investments, followed by the UK, Germany, Sweden, Spain, the Netherlands, Finland, Switzerland, Belgium and Ireland – countries in which Partech Ventures was particularly active.
With this strong growth in investments, made possible by several generations of extraordinary entrepreneurs, dozens of tech and digital champions are emerging in Europe. The promising new tech companies are financed by venture funds which now have both the critical size and the means to support these entrepreneurs on a very operational level. Another key element of the ecosystem is the fact that several major European corporations are beginning to reap the rewards of their digital transformation, and are making ambitious acquisitions up to hundreds of millions of euros