Paris-based VC Partech has announced the announces the €100M first close of its new venture fund, Partech International VI. The fund will be primarily dedicated to investments in internet / IT in Europe and Silicon Valley.
Partech had a eight exits in 2011, including one IPO (InvenSense), and seven trade sales (notably Brands4Friends to eBay, Dailymotion to Orange, Inquira to Oracle, Digitick to Vivendi and JobPartners to Taleo).
Investors include institutions such as CDC Entreprises (which invests on behalf of FSI), CNP (Caisse Nationale de Prévoyance), CM-CIC, Idinvest, as well as the EIF (European Investment Fund), AG2R La Mondiale, Malakoff Médéric and family offices. Edenred, which provides prepaid corporate services, joined as an LP.
“A €120-140M fund will be the ideal size in order to implement our focused international strategy,” said Philippe Collombel, Partner at Partech.
Good news for long time associate Andreas Schlenker who now becomes Partner, thereby joining Philippe Collombel (Paris), Nicolas El Baze (Silicon Valley) and Jean-Marc Patouillaud (Paris).