€100M: Partech announces new Venture Fund

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Partech International has just announced the €100 million first close of its new venture fund, Partech International VI. Dedicated to Internet Services and Information Technology, Partech International VI will primarily focus to invest in startups Europe and Silicon Valley based startups with high growth potential.

Partech, which is headquartered in Paris, achieved a total of eight exits in 2011, including one IPO (InvenSense – NYSE INVN), and seven trade sales (notably Brands4Friends to eBay, Dailymotion to Orange, Inquira to Oracle, Digitick to Vivendi and JobPartners to Taleo).

Partech’s new fund has attracted existing and some new investors. These investors include leading institutions such as CDC Entreprises, CNP (Caisse Nationale de Prévoyance), CM-CIC, Idinvest, as well as the EIF (European Investment Fund) and AG2R La Mondiale. In addition, Edenred, the world leader in prepaid corporate services, has also  joined as an investor and will provide Partech with its business expertise.

Partech-International-site

“…we have achieved an ambitious first close and it is now very likely that we will exceed our original target. A €120-140M fund will be the ideal size in order to implement our focused international strategy,” said Philippe Collombel, Partner at Partech.

Partech also consolidates its position as a leading international venture fund with the promotion of Andreas Schlenker to Partner, thereby joining Philippe Collombel (Paris), Nicolas El Baze (Silicon Valley) and Jean-Marc Patouillaud (Paris).

“Andreas has already been instrumental in establishing our presence in Germany. We expect him to further strengthen our position in a geography of strategic importance to us,” stated Nicolas El Baze, Partner at Partech.