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French VC agency Partech has closed one other seed fund devoted to early-stage tech startups — the fund is named Partech Entrepreneur IV. This time, Partech has raised €120 million. It represents $124 million at immediately’s trade fee.
In 2020, Partech raised $100 million for Partech Entrepreneur III. On the very finish of 2016, Partech raised $107 million for its earlier seed fund. So Partech can have a bit extra money to put money into early-stage startups, nevertheless it received’t be a large distinction.
With immediately’s new fund, the agency plans to take a position something between €300,000 and €3 million. For a lot of startups, it will characterize their first VC funding, on the seed stage and generally even pre-seed stage. Partech can lead or co-invest within the spherical.
On the subject of follow-on rounds, a VC agency that chooses to take a position as soon as once more in a portfolio firm was once an exception. It has develop into the norm for a lot of VC funds. And Partech is following this pattern because it says that it will likely be in a position to reinvest till the Sequence B spherical.
However Partech Entrepreneur IV stays a devoted seed fund as a result of Partech thinks seed investments require a devoted staff with some particular abilities. “Backing and dealing with distinctive founders from the very starting of their journey is the shared ardour — and solely focus — of our staff. It’s, in our expertise, a singular craft, requiring stage-specific experience, dedication and mindset,” Common Accomplice Boris Golden mentioned in a press release.
As for verticals and geographies, Partech doesn’t have any particular trade, market or mannequin in thoughts. It’s an opportunistic seed fund largely centered on Europe, with some investments within the U.S. and Southeast Asia.
“We’re satisfied that recognizing the longer term leaders of latest rising classes typically requires a broad scope, and a real open-mindedness in the direction of what probably the most proficient founders provide you with,” Common Accomplice Romain Lavault mentioned in a press release.
Whereas Partech doesn’t listing all of the restricted companions in its new seed fund, the agency says that 150 entrepreneurs (present or previous) contributed to the brand new fund. There are different backers as nicely, equivalent to monetary establishments, multinational firms and household workplaces.
Previously, Partech has invested within the seed rounds of Alan, Sorare, Jellysmack, Xendit and Merama. And now, Partech has raised sufficient cash to put money into one other 50 tech startups.
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