Partech VI closes on €130m

Partech VI held its first close in December 2011 on €100m, according to unquote" data. The fund had an original target of €120m.

Partech VI has a lifespan of 10 years. The final amount raised for the fund included a GP contribution, according to Partech senior partner Jean-Marc Patouillaud.

The firm found that the venture market was improving while it was fundraising for Partech VI, according to Patouillaud. He also added that US investors are beginning to show more confidence in Europe.

Investors
Close to 20 institutional investors committed to Partech VI, mainly from France, other parts of Europe and the US.

Prepaid company services group Edenred and global retail player Casino Group are notable investors in the Partech VI fund; both of them will be working with Partech on expansion strategies for the fund's portfolio companies.

Investments
The fund's typical investment size will be around €5m. The firm predominantly invests in businesses operating in the internet, information technology and digital economy spaces.

Partech VI has already made several investments throughout Europe. The firm recently backed the €4.6m funding round for Netherlands-based YD alongside Active Venture Partners, as well as investing in a number of French companies including Teads, La Fourchette and Toulouse-based Sigfox, which raised €10m in September last year from an Intel Capital-led consortium.

People
Philippe Collombel and Jean-Marc Patouillaud are both senior partners at Partech's Paris office. In conjunction with the closing of the two funds, Partech has announced the promotion of Gabriel Matuschka to head of the firm's Berlin office.

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