Global VC firm Partech has just closed its fourth fund at €120 million with plans to back visionary teams in Europe and across the globe from day one of their entrepreneurial journey. The fund won’t be limited to any market and is based on an ethos of flexibility and collaboration.
As we enter into December and start to reflect on the past year in Europe’s startup ecosystem, it seems there are still big announcements to come that are worth celebrating. Today, global VC firm Partech has unveiled its fourth fund has closed at its €120 million hard cap, and early-stage startups and entrepreneurs are set to get a boost.
The fund
This new fund, Partech Entrepreneur IV, is the firm’s 4th seed fund and closes at €120 million.
Oversubscribed, it has gotten support from leading financial institutions, multinational corporations, family offices and 100 entrepreneurs – of which 35 were themselves funded by Partech in the past, reflecting the strength of Partech’s wider network and VC approach.
The fund will back around 50 founding teams in Europe and across the globe, at the pre-seed and seed stages. Thanks to a flexible and collaborative model, it can invest as a lead investor or co-investor, with initial checks from €300K to €3 million, and typically reinvest until Series B.
It’s therefore very worthy of note. This fund stands out from others as it aims to back visionary entrepreneurs from day one right through the scaling process – a long-term strategy that is much needed in the current economic climate.
The Seed strategy at Partech is managed by a dedicated team of former entrepreneurs from Europe and the US. The team is not limiting itself to specific industries, markets or models.
Romain Lavault, General Partner at Partech: “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.”
Backing promising founders
Born in SanFran and Paris, Partech is one of the more well-known VC firms out there, and currently, the portfolio includes some 210 companies across 40 countries. It aims to bring together capital, operational experience, and strategic support for entrepreneurs at seed, venture and growth stages, thinking long-term and working to a flexible and collaborative model.
Boris Golden, General Partner at Partech: “Backing and working with exceptional founders from the very beginning of their journey is the shared passion – and only focus – of our team. It is, in our experience, a unique craft, requiring stage-specific expertise, commitment and mindset.”
The Partech Seed team combines the expertise, support and commitment of an independent Seed fund, with the benefits of the larger Partech platform, allowing them to offer Founders and their team’s extensive resources, reach and perspective.
With its past Seed funds, Partech backed a range of iconic companies such as Alan, the health insurance & super app, Sorare, the NFT fantasy sports gaming platform, Jellysmack, the technology platform for creators, Xendit, the digital payment infrastructure for South-East Asia, or Merama, the leading e-commerce aggregator in Latin America.
via https://www.AiUpNow.com
December 5, 2022 at 03:55AM by contact@bcurdy.com (Patricia Allen), Khareem Sudlow
