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Partech Ventures beats target for two funds

8 Oct 2013

paris5_sqParis-headquartered investment firm Partech Ventures, which invests in high growth internet and IT businesses, has raised €160m for two funds, beating its target by €40m.

Partech VI has received commitments of €130m and has already invested in three businesses, while the firm’s seed fund Partech Entrepreneur has secured €30m.

Partech senior partner Philippe Collombel said, “This set up inspired by Silicon Valley is quite uncommon in continental Europe.

“This will give us the means to implement a strong and active support strategy to benefit the best entrepreneurs from the inception of their project onwards.

Partech VI was backed by nearly 20 intuitional investors from France, the rest of Europe and the US including Edenred and the Casino Group, which the firm said will contribute their business expertise.

The Partech Entrepreneur seed fund has received commitment from 40 entrepreneurs in addition to the fund’s anchor investors, the National Seed Fund (FNA) managed by Bpifrance, BNP Paribas and Econocom.

Earlier this year Partech participated in a $34.5m financing round for cloud call centre software maker Five9 and a $20m Series D financing round data centre storage optimisation business Atlantis Computing.

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