French VC firm Partech Ventures announced that they closed their seed fund of $107 million (€100 million) for early stage startups. Partech Entrepreneur II is focusing on seed rounds, and the firm plans to invest in 80 different startups.
The firm already announced the creation of the seed fund 18 months ago. At the time, Partech had $65 million (€60 million) under management. So it looks like the company signed a few more LPs to invest in more companies.
Partech has already been quite active when it comes to seed rounds in Paris and around the world. The firm closed its initial $32 million (€30 million) seed fund in 2013 and has been investing with Partech Entrepreneur II for a while. Overall, the firm has invested in 50 different companies across eight different countries with this most recent seed fund.
Today’s seed fund is backed by a lot of entrepreneurs who are giving back by investing in the fund. Portfolio companies could tap into this network for advice and connections. It’s a good sign that Partech managed to raise a second seed fund as that’s how venture firms can keep investing over the years.