Partech Growth Fund holds €200m first close

The GP said the France-based vehicle was raised in response to a dearth of European investment into technology and digital companies which have already achieved significant revenue generation.

Coming a year after Partech raised its previous fund, the Growth Fund will supplement the €30m Partech Entrepreneur vehicle and 2011-vintage €130m Partech VI.

The trio of funds gives the GP separate vehicles for seed, early-stage and late-stage venture investments.

Partech's previous fund has a 10-year lifespan.

Investors
LPs in Partech Growth Fund include state-backed BPI France, CNP Assurances, AG2R La Mondiale and industrial groups Carrefour, Ingenico Group and Renault.

Investments
Partech Growth Fund will make late-stage venture investments in fast-growing companies in the digital and technology sectors.

The vehicle will commit equity tickets of €10-30m to European businesses that are already generating significant revenues.

People
Bruno Crémel, Mark Menell and Omri Benayoun are general partners of Partech Growth Fund.

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