Partech Ventures

Partech Ventures
Industry Venture Capital
Headquarters San Francisco, United States
Paris, France
Berlin, Germany
Key people
 Philippe Collombel
Jean-Marc Patouillaud
Nicolas El Baze
Romain Lavault
Omri Benayoun
Bruno Crémel
Mark Menell
Olivier Schuepbach
Reza Malekzadeh (entrepreneur)
Total assets $ 1.2 billion
Number of employees
 25-50
Website www.partechpartners.com

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 €1.3 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

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].

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

Portfolio

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[5].

Active funds

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

Seed capital

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 [6]. 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 [7].

Partech Entrepreneur II is a second seed capital fund, launched in January 2015 and closed in 2016[8], 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.

Venture capital

Partech International VI exited in December 2011 for a total of €100 million[9], 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[10]. 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[11].

Growth capital

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[12] and Freedom Pop[13].

Partech Africa

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. [14]

Partech Shaker

In December 2014, Partech Ventures unveiled Partech Shaker, a campus dedicated to open innovation, i.e. the exchanging of experiences and cooperation between start-ups and major groups.[15] It is the first time that a venture capital fund has created its own start-ups campus[16].

The Shaker's premises, located at 33 rue du Mail in Paris, are home to around thirty Partech Ventures start-ups (currently Kartable and Influans) along with major companies (currently France Télévisions, Lagardère, Saint-Gobain, etc.).[17] 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[18].

Notable supported companies

Over time, Partech has invested in close to 300 companies [19]

References

  1. ↑ "Meet the NovaSparks Management team".
  2. ↑ "Philippe Collombel".
  3. ↑ "Transatlantic VC Partech International opens new office in Berlin".
  4. ↑ "Partech Ventures Launches Africa-Focused Fund". January 22, 2018.
  5. ↑ "[Finance] Le fonds Partech Ventures lève 160 millions d'euros pour financer de nouveaux projets".
  6. ↑ "Econocom joins business angel venture "Partech Entrepreneur"".
  7. ↑ Boogar, Liam. "Partech Ventures announces the Biggest European Seed Fund. Ever".
  8. ↑ "Partech Ventures closes $108 million fund for 80 seed-stage startups in the U.S. and Europe". December 6, 2016.
  9. ↑ Butcher, Mike. "Partech get to the €100M first close of its new venture fund".
  10. ↑ "€10M financing round for Compte Nickel, a French "bank-less" account service, led by Partech Ventures".
  11. ↑ Ohr, Thomas. "€100M: Partech announces new Venture Fund".
  12. ↑ Butcher, Mike. "Made.com Raises $60M To Accelerate European Expansion Led By Partech And Fidelity".
  13. ↑ "Rejecting M&A, FreedomPop Raises Another $30M For Its Free Mobile Service".
  14. ↑ "A new pan-African fund will give a boost to Francophone Africa's fledgling startups". January 23, 2018.
  15. ↑ De Kerautem, Virginie. "Partech Shaker: a new Innovation-stimulation campus".
  16. ↑ Carroll, Michael. "Alcatel-Lucent seeks innovation boost through Partech Ventures research campus".
  17. ↑ De Kerautem, Virginie. "Partech Shaker: a new Innovation-stimulation campus".
  18. ↑ Ganguly, Chawm. "Paris: Partech Shaker to become a mini Silicon Valley, hosts Dropbox and Pinterest".
  19. ↑ "Partech Investments on Crunchbase".
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