Paris, 9 January 2024 - Racine has advised Partech Partners on the closing of Partech Venture, its latest venture capital fund targeting mission-driven software, data and fintech specialists in Europe.
This transaction will enable Partech to pursue its mission to drive the digital transformation of enterprises and SMEs.
Founded in 1982 in San Francisco, Partech Partners is a French investment fund with international ambitions, specialising in the technology sector and digital innovation. A major player in venture capital, Partech is headquartered in Paris and operates on four continents with offices in Berlin, Dakar, Dubai, Nairobi and San Francisco. With €2.5 billion under management across its seed, growth, impact and venture investments, Partech manages a portfolio of 220 innovative companies.
The launch of Partech Ventures follows the success of Partech International Ventures VII, which raised €400 million eighteen months after its launch in 2015. Partech Venture will invest in Application Software, Deep Tech Software, B2B & B2B2C Vertical Platforms and Fintech & Insurtech Applications. The fund aims to invest in 22 to 24 Series A / B stage European companies which have from €1 to €10M recurring revenue.
Partech Venture has brought together international institutions, sovereign wealth funds and leading multinationals, including Allianz France, BNP Paribas, Bpifrance, CDP Venture Capital, Edenred, FDJ Ventures, JCDHolding and Lombard Odier Investment Managers. This fund has doubled the target of its predecessor, aiming to close at €360 million. Half of this sum has already been raised and €13 million has already been invested in Series A in Smartpricing, an Italian company specialising in financial management software for the hotel industry.
Racine Avocats advised Partech Partners with a team consisting of Rima Maitrehenry (partner) and Stein Mpassi Loufouma (associate) on the structuring of the fund ; Fabrice Rymarz (partner) and Charles-Xavier Vincenti (associate) on tax matters.