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Partech

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Partech
Partech.png
ISIN🆔
IndustryVenture Capital
Founded 📆
Founder 👔
Headquarters 🏙️San Francisco, United States
Paris, France
Berlin, Germany
Area served 🗺️
Key people
Philippe Collombel
Jean-Marc Patouillaud
Nicolas El Baze
Romain Lavault
Omri Benayoun
Bruno Crémel
Mark Menell
Reza Malekzadeh
Jean Sini
Total assets$ 1.4 billion
Members
Number of employees
50+
🌐 Websitewww.partechpartners.com
📇 Address
📞 telephone

Partech is a global investment firm, financing a wide range of technologies and businesses for enterprises and consumers, from software, digital brands and services, to hardware and deep tech across all major industries. Partech has an international presence, with offices in San Francisco, Paris, Berlin, and Dakar. Partech currently manages €1.4 billion across five separate funds, each of which dedicated to a specific stage of growth or to a specific geographical area. The firm launched its Partech Shaker campus in 2014 to host both local startups as well as European offices for international companies.

History[edit]

Partech was originally called Paribas Technologies, and was a subsidiary of the Paribas bank which started operations in 1982 in San Francisco. Partech was co-founded in 1982 by Tom McKinley and Vincent Worms. They opened their French office in Paris in 1996. In 2007, it was taken over by Jean-Marc Patouillaud[1] and Philippe Collombel,[2] who joined Partech in 1996 and 2001 respectively. They still head the company in their role as managing partners. In 2012 Partech opened an office in Berlin.[3] In 2018 the firm opened an office in Dakar, Senegal and launched its Africa focused fund.[4]

In addition, Partech has built their name off of their ability to bring European startups to the United States – their first major success, in the 90s, was Business Objects, where they were a seed investor.[5]

Today, the Partech team is made up of 50 members who are a mix of entrepreneurs and industry specialists.

Portfolio[edit]

With its different funds, Partech participated in the development and success of many startups and digital companies, French and international, including Business Object, sold back to SAP in 2008, Dailymotion, sold back to Orange in 2013, and La Fourchette, sold back to TripAdvisor in 2014, or Sigfox more recently.[6]

Its investments include Akeneo, [7] Brandwatch,[8] Dayuse,[9] Privitar,[10] and Flirtey.[11]

Active funds[edit]

Partech operates right across the financing chain for start-ups.

Seed capital[edit]

Partech Entrepreneur I, which exited in October 2013 for a total of €30 million, has invested in several start-ups such as PriceMatch and Evergig. With half of its capital subscribed by Bpifrance as well as Econocom and BNP Paribas, the fund is managed by Romain Lavault with the aim of financing 30 projects .[12] In 18 months, Partech Entrepreneur I has made it possible to invest in thirty emerging companies: 19 in France, 8 in the US and 3 in Germany. One quarter of these companies racked up in excess of a million euros in turnover.[13]

Partech Entrepreneur II is a second seed capital fund, launched in January 2015 and closed in 2016,[14] with the aim of investing in Technology projects. It closed at over $100M, making it Europe's largest seed capital fund to date in the digital sector. Its aim is to finance 80 start-ups with a starting investment of between €300,000 and €1 million. Its investments are expected to be both in Europe and in the USA (Silicon Valley). The fund is supported by Bpifrance, Carrefour, Econocom, Edenred, Groupama, Ingenico Group, Neopost, FDJ, BNP Paribas and Renault-Nissan. Funds have also been contributed by entrepreneurs and mentors based in France and on the other side of the Atlantic.

Partech Entrepeneur III is a third seed capital fund, launched in 2019 and closed in 2020[15]. Partech is now one of the largest seed investors around the globe, with offices in San Francisco, Paris, Berlin and Dakar. Its seed funds exceed €276 million in total and top 160 investments in 22 countries across Europe, US and Asia.[16]

Venture capital[edit]

Partech International VI exited in December 2011 for a total of €100 million,[17] an amount that rose to €130 million in October 2013 on the back of several significant investments by the likes of Lafourchette, Sigfox and, in September 2015, Compte Nickel.[18] Jean-Marc Patouillaud and Philippe Collombel head up this fund, which is expected to negotiate between 20 and 25 transactions over a four-year period.[19]

Partech International Ventures VII closed in 2017 for a total of $450 million, [20]. Two thirds of the fund will be used to back European startups developing emerging technologies while the remainder will be invested in US startups. [21].

Growth capital[edit]

Partech Growth, which first exited in January 2015 for a total of €200 million. This fund, which is expected to negotiate one to two investments per year with starting investments of between €10 million and €45 million, has been entrusted to Bruno Crémel, Omri Benayoun and Mark Menell. It comprises major industrial groups such as Renault, Carrefour and CNP Assurances. Several institutional investors, who have supported the fund for several years now, have subscribed – including Bpifrance, CNP Assurance and AG2R La Mondiale – as well as big groups like Carrefour, Ingenico, Groupama and Renault. The fund has also invested in Made.com[22] and Freedom Pop.[23]

Partech Africa[edit]

In 2018 Partech launched an Africa-focused fund which will look to provide early-stage funding to promising startups and founders on the continent. The fund targets a total amount of $100 million, making it one of the largest Africa-focused funds.[24] [25]

In 2019 Partech announced that it would double it's African VC fund to $143 million.[26] Partech's African investments include Kudi[27], TradeDepot[28] and Yoco[29].

Partech Shaker[edit]

In December 2014, Partech unveiled Partech Shaker, a campus dedicated to open innovation, i.e. the exchanging of experiences and cooperation between start-ups and major groups.[30] It is the first time that a venture capital fund has created its own start-ups campus.[31]

The Shaker's premises, located at 33 rue du Mail in Paris, are home to around thirty Partech start-ups (currently Kartable and Influans) along with major companies (currently France Télévisions, Lagardère, Saint-Gobain, etc.).[32] Among the most promising start-ups hosted by Partech Shaker are the French arms of Kantox and Sigfox.

The premises are also open to foreign start-ups keen to gain a foothold in Paris: in 2015, Partech Shaker welcomed Hotel Tonight, Pinterest and Dropbox.[33]

Notable supported companies[edit]

Over time, Partech has invested in close to 300 companies[citation needed]

  • Monax: blockchain and smart contract infrastructure provider
  • NA-KD: Swedish Fashion e-commerce company[34]
  • Made.com: Online Furniture Retailer[35]
  • SendinBlue: email marketing/marketing automation SaaS tool for SMBs and ECommerce
  • Sigfox: network operator data Machine to Machine (M2M) and Internet of Things (IoT)

References[edit]

  1. "Meet the NovaSparks Management team".
  2. "Philippe Collombel".
  3. "Transatlantic VC Partech International opens new office in Berlin". HEUREKA magazine. 2012-12-11. Retrieved 2019-01-15.
  4. "Partech Ventures Launches Africa-Focused Fund". January 22, 2018.
  5. "Partech Ventures: Europe's first French Tier-One VC".
  6. "[Finance] Le fonds Partech Ventures lève 160 millions d'euros pour financer de nouveaux projets".
  7. Akeneo. "Enterprise PIM Leader Akeneo Raises $13 Million Series B to Improve Ecommerce Product Management". www.prnewswire.com. Retrieved 2019-03-01.
  8. "Partech Ventures leads $33M Series C for Brandwatch". www.bizjournals.com. Retrieved 2019-03-01.
  9. "Partech and IDinvest lead €15M Series A in Dayuse.com". Closing Circle. 2016-01-13. Retrieved 2019-03-01.
  10. "Privitar Closes $80 Million Series C Funding Round Led by Warburg Pincus".
  11. "Partech Ventures company profile". craft.co. Retrieved 2019-03-01.
  12. "Econocom joins business angel venture "Partech Entrepreneur"".
  13. Boogar, Liam. "Partech Ventures announces the Biggest European Seed Fund. Ever".
  14. "Partech Ventures closes $108 million fund for 80 seed-stage startups in the U.S. and Europe". December 6, 2016.
  15. "Paris-based VC Partech reveals new $100 million fund, seeking seed-stage investments in post-COVID trends".
  16. "Partech announces €92 million seed fund for 'post-COVID' trend startups".
  17. Butcher, Mike. "Partech get to the €100M first close of its new venture fund".
  18. "€10M financing round for Compte Nickel, a French "bank-less" account service, led by Partech Ventures".
  19. Ohr, Thomas. "€100M: Partech announces new Venture Fund".
  20. "Partech Ventures raises $450 million fund".
  21. "A VC firm has raised €400 million to invest in European and US startups working on emerging technologies".
  22. Butcher, Mike. "Made.com Raises $60M To Accelerate European Expansion Led By Partech And Fidelity".
  23. "Rejecting M&A, FreedomPop Raises Another $30M For Its Free Mobile Service".
  24. "A new pan-African fund will give a boost to Francophone Africa's fledgling startups". January 23, 2018.
  25. "Partech is doubling the size of it African fund to $143 million". January 31, 2019.
  26. Jake, Bright. "Partech is doubling the size of its African venture fund to $143 million". Tech Crunch.
  27. "Nigerian fintech Kudi raises $5m Series-A round to expand network, products". Venture Burn.
  28. "Nigerian startup TradeDepot scores big with $3m in funding from Partech". Venture Burn.
  29. "SA fintech Yoco raises whopping $16m in Series-B round led by Partech". Venture Burn.
  30. De Kerautem, Virginie. "Partech Shaker: a new Innovation-stimulation campus".
  31. Carroll, Michael. "Alcatel-Lucent seeks innovation boost through Partech Ventures research campus".
  32. De Kerautem, Virginie. "Partech Shaker: a new Innovation-stimulation campus".
  33. Ganguly, Chawm. "Paris: Partech Shaker to become a mini Silicon Valley, hosts Dropbox and Pinterest".
  34. "Swedish Fashion e-commerce Company NA-KD raises $45M Series B".
  35. "Online furniture retailer Made.com raises £40 million".

External links[edit]


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