Partech announces first close on €100m

The fund has a target of €120-140m and is expected to close in March 2012. Fees for investors will range from 0.4% to 2.2% depending on the stage of the fund cycle.

Based in Paris, Partech focuses on companies with high growth potential in the internet and IT sectors. Specific areas for investment include e-commerce, digital media and information technology. The firm was established in 1982 and has completed more than 100 exits to date. Notable exits in 2011 include the sale of Brands4Friends to eBay and DailyMotion to Orange.

Investors
The vehicle includes investors in former Partech funds, including CDC Enterprises, which invests on behalf of The Fond Stratégique d'Investissement (FSI) and the European Investment Fund. Corporate services provider Edenred joins the list of investors in the vehicle.

Investments
Partech International VI will primarily focus on investments in internet services and information technology in Silicon Valley and Europe. The fund will invest in start-up companies with high growth potential over the first four years of its lifespan and complete all divestments by 2021.

People
Following his recent promotion, Andreas Schlenker joins Philippe Collombel, Nicolas El Baze and Jean-Marc Patouillaud as a partner at Partech.

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