International and San Francisco-based venture capital firm Partech International announced the first close of €100M ($135M) for its sixth fund. The VC firm, which also has European operations, did not specify a target for its fund.
Partech International today announces the €100M ($135M) first close of its new venture fund, Partech International VI.
Dedicated to Internet Services and Information Technology
Partech International VI will be primarily dedicated to investments in internet services and information technology in Europe and Silicon Valley. The fund will invest in start-ups with high growth potential, capitalizing on a 30-year expertise and track record.
“Our thoughtful sector strategy and unique transatlantic presence in Europe and Silicon Valley are highly sought after by the most ambitious entrepreneurs and the most demanding investors”, highlights Jean-Marc Patouillaud, Partner at Partech.
Support of Prestigious Investors
Partech’s new fund has attracted high quality existing and new investors who were compelled by the fund’s ability to generate strong results and exits, even in challenging economic environments. Partech achieved a total of eight exits in 2011 in Europe and the US, 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).
These investors include leading institutions such as CDC (which invests on behalf of FSI), CNP (Caisse Nationale de Prévoyance), CM-CIC, Idinvest, as well as the EIF (European Investment Fund), AG2R La Mondiale, Malakoff Médéric and family offices. In addition, Edenred, the world leader in prepaid corporate services, joined this list of prestigious investors and will provide Partech with its business expertise.
« The trust of our investors is invaluable and we are thankful for their support. As a result, 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.
Strengthened International Team
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.
This new fundraise also successfully caps the generational transition which was initiated during the previous fund. “This transition has been gradual; we started the process in Europe and it is now complete. I am very satisfied with the results,” highlights Vincent Worms, founder and Partner Emeritus of Partech.
Partech focuses on high-growth opportunities in internet and information technology. Specific areas of investment include e-commerce, digital media and infrastructure technology. In each of these areas, Partech looks for companies with a disruptive approach and a clear leadership potential.
Partech is one of the most established venture firms in the European and American markets, and has long standing experience in growing young companies internationally. It is also a team that has successfully implemented a long-term strategy, over multiple funds.
Our global approach has been successfully applied for nearly 30 years. Many of our 100+ portfolio company exits (via IPO and M&A) are global companies and transatlantic success stories: Akimbi Systems (VMW), Alvarion (ALVR), Apsylog (PRGN), Ascend Communications (ASND), Brands4Friends (EBAY), Buongiorno (BNG.MI), Business Objects (SAP), Cadence Design (CDNS), Cartesis (SAP), DailyMotion (ORANGE), DCT (SYMC), Digital Island (ISLD), Digitick (VIVENDI), Fluxus (BT), Informatica (INFA), Invensense (INVN), ISDnet (CW), JobPartners (TALEO), Jungo (NNDS), Meiosys (IBM), Pentasafe (NTIQ), Q-layer (ORCL), Quinstreet (QNST), Teknovus (BRCM), Verifone (PAY), Vignette (VIGN) and Visicu (EICU).
More information can be found at www.partechventure.com.