Partech raises $750 million growth fund

Paris-based VC firm Partech has announced the closing of the fundraising of its new growth fund, Partech Growth II, managing to raise $750 million.

Partech Growth I was a smaller fund with €400 million under management, or $460 million at today’s exchange rate. Partech closed Partech Growth I in 2015.

When it comes to today’s fund, backing comes from 45 institutional investors, such as endowments, foundations, pension funds, life insurers, asset managers and fund-of-funds. Around 40 family offices, entrepreneurs and business angels also participated in the new fund.

Partech has already started deploying some of the funds in tech companies. Portfolio companies include Rohlik, a grocery delivery company from Czech Republic (more details in Ingrid Lunden’s article); Skello, a work scheduling SaaS tool (more details in my separate article); Studocu, a note-sharing platform for college students (Ingrid also covered it here); and recurring payment platform Billogram (more from Ingrid).

“We’re humbled and grateful for the support of, and commitment from, our global investors. It allows us to continue to deliver meaningful and strategic assistance to the outstanding community of European tech entrepreneurs who decide to welcome us on their journey,” Partech Growth general partner Omri Benayoun said in a statement.

Partech plans to invest across many different verticals, both enterprise and consumer companies, across multiple industries. The firm plans to invest in 12 to 15 companies with an average check ranging from $22.4 million to $78.4 million (€20 million to €70 million).

Rohlik raises $119M at a $1.2B valuation to grow its 2-hour grocery delivery service in Europe

Skello raises $47.3 million for its employee scheduling tool

StuDocu raises $50M as its note-sharing network for college students passes 15M users

Billogram, provider of a payments platform specifically for recurring billing, raises $45M