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Partech Ventures closes €400m fund to invest in European tech startups

partech ventures

Partech Ventures has announced the closure of a €400m growth fund which will be used to invest in UK, European and US tech.

The fund, known as Partech Growth, will seek to invest between €10m and €50m of capital in fast-growing tech and digital firms with significant revenue.

“When we launched Partech Growth at the beginning of 2015, we aimed at raising a €300m fund,” said Omri Benayoun, general partner at Partech Ventures. “Faced with strong demand from LPs and startups alike, we decided to increase our capacity to €400m which will enable us to fund the ambitious global expansion plans of the best startups across Europe and the US.”

The fund – which has invested €120m in 5 European and US West Coast tech companies – will be managed by a dedicated team led by Omri Benayoun and Bruno Crémel in Europe, and Mark Menell in the US.

“Partech Growth backs companies which, after having successfully proven their model, wish to scale up their international expansion” said Bruno Crémel, general partner at Partech Ventures, adding: “Our first investments boast an average annual growth of more than 50% with over €500m of combined revenues, and more than 1,200 employees”.