Ventech holds first close on €140m

Oscar Geen
07 March 2018

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French VC Ventech, the former venture arm of Natixis Private Equity, has held a first close on €140m for Ventech Capital V, which has a €200m hard-cap.

Ventech will stick to its strategy of investing in early-stage European companies, predominantly in the business services sector.

The firm held a final close for its fourth fund on €110m in November 2014 and raised a slightly larger fund in 2007, holding a final close on €150m.

Ventech's previous funds have generated a 2.5x money multiple and a gross IRR of 15%, according to an interview with Ventech partner Jean Bourcereau in French daily Les Echos.

Investors
Half of the LPs in Ventech V are European institutional investors, in line with previous funds, according to Les Echos.

The European Investment Fund and IB both backed Ventech IV, as did French insurance company Groupe SMABTP and state-backed investor CDC Entreprises. Former parent Natixis has also previously made significant contributions to Ventech funds.

Investments
The new fund will make 25-30 investments of €500,000-15m. It will target early-stage companies in the business services sector, including enterprise software developers, data processing and artificial intelligence-enabled startups.

People
Ventech – Jean Bourcerau (partner).