First, peHUB broke the news that Partech International portfolio company Racktivity did a CEO shuffle as it prepared to commit to European operations, and today, sources tell peHUB, the international VC will soon be fundraising.
Partech’s sixth international VC fund will be in the range of the VC’s last fourth and fifth vintages that respectively in 2001 and 2006, took in about $300 million and $200 million, according to a source. Partech has not hired a placement agent, according to that source.
Partech has several winners in its portfolio, and exits still to go. One notable exit was last month’s sale of Inquira, the CRM software firm, to Accenture. Terms of the deal were not disclosed. The VC has also contributed to early and multiple rounds in Jaspersoft, the business software company founded in 2001, and RockYou, the social gaming company. One of the primary competitors to Zynga and Kabam, RockYou has been buying up complementing developers, like Playdemic and 3 Blokes Studios. In fact, it has been reported, Jaspersoft, as well, could be buying up smaller competitors in the near term. Along with these investments, Partech has contributed to multiple rounds in cloud storage company Racktivity, as well.
Past notable exits for Partech—which it will surely highlight to LPs internationally and in the U.S.—include Akimbi, the software testing firm acquired by VMWare in 2006; BusinessObjects, which was bought in 2007 by SAP; and, Verifone, tucked into H-P in 1997.
The VC, which was founded in 1982, has limited data available on its funds. Even with winning investments lined up, any figures on its fifth fund would be too premature to objectively evaluate, given how young the vintage is. Data on its fourth fund—which does not factor in this summer’s exit—include an investment multiple of 1.00x and a net IRR of -0.8 percent, according to CalPERS.
Thomson Reuters’ data indicates no fund amount was publicized for Partech’s 1982 investment vehicle. In 1985, Partech’s first International Venture Fund collected $50 million and in 1987; Fund II raised $120 million. International Fund III raised $120 million. Earlier-mentioned 2001 and 2006 funds, at $300 million and $200 million, are also International Funds. VCs familiar with Partech will not confuse these funds from the investor’s International Growth Capital Funds, which raised, sequentially, $65 million for Fund I in 1998; $135 million for Fund II in 1999, and $43 million for Fund III in 2000, Thomson Reuters’ data shows.
The VC declined to comment for this story.