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Partech raises $750 million growth fund – FiratNews

Partech raises $750 million growth fund – TechCrunch

Paris-based VC agency Partech has introduced the closing of the fundraising of its new progress fund. Partech Progress II is the agency’s second progress fund. And the workforce managed to boost $750 million.

As a reminder, Partech Progress I used to be a smaller fund with €400 million underneath administration, which represents $460 million at in the present day’s alternate charge. Partech closed Partech Progress I again in 2015.

With regards to in the present day’s fund, backing comes from 45 institutional buyers, resembling endowments, foundations, pension funds, life insurers, asset managers and fund-of-funds. Round 40 household workplaces, entrepreneurs and enterprise angels additionally participated immediately within the new fund.

Partech has already began deploying a number of the fund in tech firms. Portfolio firms embrace Rohlik, a grocery supply firm from Czech Republic (extra particulars in Ingrid Lunden’s article), Skello, a piece scheduling software-as-a-service device (extra particulars in my separate article), Studocu, a notice sharing platform for school college students (Ingrid additionally lined it right here) and recurring cost platform Billogram (extra from Ingrid).

“We’re humbled and grateful for the assist of, and dedication from, our international buyers. It permits us to proceed to ship significant and strategic help to the excellent group of European tech entrepreneurs who determine to welcome us on their journey,” Partech Progress Normal Companion Omri Benayoun stated in an announcement.

Partech plans to take a position throughout many various verticals, each enterprise and shopper firms, throughout a number of industries. The agency plans to spend money on 12 to fifteen firms with a mean verify starting from $22.4 million to $78.4 million (€20 million to €70 million).

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