Partech, a Paris-based Venture investment company, has recently secured $750 million for expansion, the firm’s second-growth fund is Partech Growth II.
To refresh your memory, Partech Growth I was a lesser fund with €400 million in assets under management or $460 million at today’s currency rate.
Partech Growth I was shut down in 2015. Endowments, charities, pension funds, life insurance, asset managers, and fund-of-funds are among the 45 institutional investors who have backed today’s fund.
Around 40 family offices, entrepreneurs, and business angels took part in the new investment directly.
Partech has indeed begun investing in tech startups with some of the funds. Rohlik, a Czech grocery delivery service, Skello, a work scheduling software-as-a-service tool, Studocu, a note-sharing site for college students, and Billogram, a reoccurring payment platform, are among the portfolio firms.
African countries that have profited from the company include Yoco, a South African fintech firm, and TradeDepot, a Nigerian B2B e-commerce site.
In a remark, Partech Growth General Partner Omri Benayoun expressed his gratitude for the company’s global investors’ commitment and assistance.
It enables the company to continue providing valuable and strategic help to the exceptional community of European digital entrepreneurs who have chosen to welcome the company on their path.
Also read, Partech Report: African Investors Can Explore Many Options in tech
The venture firm intends to invest in a variety of industries and verticals, including both business and consumer enterprises.
The firm intends to invest in 12 to 15 enterprises for a total of $22.4 million to $78.4 million (€20 million to €70 million).
Fintech accounted for 25% of overall African capital raised last year, according to Partech, with the agritech, logistics & transportation, off-grid tech, and health tech sectors trailing behind.
According to Partech Africa, $2 billion was invested in African businesses in 2019. The figure for 2020 has been reduced to $1.43 billion.
According to Briter Bridges, total VC for African companies in 2020 is expected to be $1.31 billion, up from $1.27 billion in 2019. The company’s revenue increased from $496 million in 2019 to $700 million in 2020.
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