Idinvest Partners, a Paris-based investment firm, has announced the closure of a €250m capital growth fund to support UK tech startups.
The ‘Idinvest Growth Fund II’ will build on the firm’s previous investment strategy, targeting European tech startups with global growth prospects in the digital, HealthTech and CleanTech sectors.
Benoist Grossmann, managing partner of Idinvest Partners, commented: “The ‘Idinvest Growth Fund II’ will allow the firm to accelerate and develop it’s relationships with growing European SMEs. Modelled on previous investments such as Talend (currently listed on The Nasdaq Stock Market), Withings (bought by global telecommunications leader Nokia) and similarly Vestiaire Collective and Sigfox (now global leaders in their respective sectors), Idinvest is confident of the potential to reproduce similar successes with businesses that have their roots in France and Europe, but whose prospects for growth are global.”
Having previously invested in UK startups including Secret Escapes, Ogury and Lastminute.com, Idinvest Partners recognises the UK’s strong startup environment, and plans to deploy further investment in the country’s technology industry.
Christophe Bavière, founding partner of Idinvest Partners, commented: “We recognise and appreciate the trust our investors have in us, some of whom have been with us for nearly 20 years. The success of the strategy proposed by this fund has attracted new partners based in the Middle East.”
In addition to funding, Idinvest Partners will provide innovative SMEs with mentoring and a supportive entrepreneurial network.
“In today’s complex market where LPs are seeking consistent and attractive performances, Idinvest’s heritage and specialisation in SMEs with strong growth potential is demonstrating the strength of its offering,” Bavière concluded.