VC Firm Partech Raises €650M To Power Europe Next Digital

VC FIRM PARTECH ANNOUNCES STAGE II GROWTH FUND OF €650 MILLION TO POWER THE NEXT EUROPEAN DIGITAL LEADERS

VC Firm Partech
Image Credit: Partech

Paris and San Francisco-based VC firm Partech just announced it has closed a Growth II fund at €650 million which is geared towards the company’s mission to power a new generation of European digital leaders.

The latest funding round which is considered as being a mostly remote fundraise based on the current pandemic, amazingly, the fund closed above the target size margin. However, it should be borne in mind that the subject company did secure €400 million Growth I under management back in 2015.

As regards the latest fundraise, it’s worth noting that backing actually came from over 45 institutional investors, such as endowment & foundations, pension funds, asset managers and fund-of-funds, life insurers, and 40+ prominent family offices, entrepreneurs, and business angels, from 10 countries in Europe, North America, and Asia, while reaffirming a deep commitment to the European tech industry with regards to the future. 

Meanwhile, the fresh capital has already been deployed in five companies across Europe. Prague-based Rohlik which has emerged as one of Europe’s leading online grocery delivery businesses is believed to have received a funding boost earlier this year. Equally, is the Paris-based online scheduling and personnel management tool Skello; also from Paris is Rouje, known and described as the ultimate French digital native brand of women’s fashion; Stockholm-based Billogram, the integrated customer experience, bill, and payment platform for large B2C enterprise; and Amsterdam-headquartered Studocu which is a knowledge-sharing platform.

Going forward, the General Partner at Partech ‘Omri Benayoun’ said: “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”.

The subject startup which is viewed as a global tech investment company is already a renowned entity in the field and already has 12 unicorns in its portfolio. Yet, as part of its effort, the company plans to continue supporting digitally native startups determined to emerge the generation of Europe’s Fortune 500, which constitute enterprise and SMB software, healthcare, consumer brands, financial services, education in addition to other frontier technologies.

Furthermore, to ensure the company’s goals are further enhanced, the team plans to double down with the latest fundraise precisely on its existing investment strategy which will include partnering with 12 – 15 exceptional companies, while drafting check sizes in the region €20 – €70 million.  

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