Partech Raises New $750 Million Growth Fund
Paris-based VC firm Partech has announced the closing of the fundraising of its new growth fund. Partech Growth II is the firm’s second growth fund. And the team managed to raise $750 million.
When it comes to today’s fund, backing comes from 45 institutional investors, such as endowments, foundations, pension funds, life insurers, asset managers and fund-of-funds. Around 40 family offices, entrepreneurs and business angels also participated directly in the new fund.
The company has already started deploying some of the fund in tech companies. Portfolio companies include Rohlik, a grocery delivery company from Czech Republic (more details in Ingrid Lunden’s article), Skello, a work scheduling software-as-a-service tool (more details in my separate article), Studocu, a note sharing platform for college students (Ingrid also covered it here) and recurring payment platform Billogram (more from Ingrid).
“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,” Growth General Partner Omri Benayoun said in a statement.
The company plans to invest across many different verticals, both enterprise and consumer companies, 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).