Partech closes £103m seed fund, eyes UK startups

Partech fund

Paris-headquartered venture capital firm Partech has secured €120m (£103.1m) for its fourth seed fund.

The oversubscribed Partech Entrepreneur IV fund received backing from 100 entrepreneur angels, family offices, multinational corporations and financial institutions.

A spokesperson for Partech told UKTN that the UK is “definitely part of our European strategy”.

Romain Lavault, general partner, Partech, said: “We are convinced that spotting the future leaders of new emerging categories often requires a broad scope and a genuine open-mindedness towards what the most talented Founders come up with.”

Across Europe, Partech plans to support approximately 50 companies from pre-seed to seed, investing anywhere from €300,000 to €3m (£258,000 – £2.6m).

The funds will be deployed in startups across any industry, as demonstrated by Partech’s previous investments.

British companies in Partech’s portfolio range from car-buying platform Cazoo, AI data labelling startup V7 and social media platform for women, Peanut.

“Backing and working with exceptional founders from the very beginning of their journey is the shared passion – and only focus – of our team,” said Boris Golden, general partner at Partech.

“It is, in our experience, a unique craft, requiring stage-specific expertise, commitment and mindset.”

Partech also has offices in San Francisco, Berlin and Dakar. It currently has a stake in 210 companies spread over 40 countries.