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BPIFRANCE, the EIB Group and KFW invest €75M in Partech Growth

Bpifrance, the EIB Group (through the European Investment Fund) and KFW today announce their €75M joint investment in Partech Growth. For the first time, these three key-players of the European economic revival invest together in a growth fund.


The signing took place at the French presidential palace during the major Franco-German conference, in the presence of Emmanuel Macron, French Minister of Economy, Industry and the Digital Sector and Sigmar Gabriel, Vice Chancellor of Germany and federal Minister of Economy and Energy.

Partech Growth is a growth fund managed by Partech Ventures. It provides between €10M and €50M of capital to fast-growing technology and digital companies that have already achieved meaningful revenues. The European market suffers from a lack of capital funding for amounts exceeding €10M. This €75M joint investment, and the support of many other investors, enables Partech Growth to exceed €370M in commitments to date. The final closing will take place at the beginning of 2016.

"Partech Growth addresses the European financing gap. We are delighted to see major government-backed players like Bpifrance, EIF and KFW support growth capital and to help large European tech companies become global leaders", said Bruno Crémel, General Partner of Partech Ventures in charge of Partech Growth.

Nicolas Dufourcq, General Manager of Bpifrance, added that "The support from Bpifrance and KFW to Partech Growth, which is established in France and in Germany among others, is unprecedented in the European growth capital industry. This agreement materializes a tangible symbol of Franco - German cooperation in the larger context of the European Union, with the support from the European Investment Fund ".

According to Ambroise Fayolle, Vice- President of the EIB: "This funding is a strong symbol for Franco-German cooperation. It is also a new way for the Investment Plan for Europe to support growth and business competitiveness on a European scale. In the wake of pan-European fund Partech Growth and with these synergies, the promising capital growth activity will thrive, giving European tech and digital companies new means to grow and expand on an international scale.

"The European growth capital industry still lacks operators and resources: to support it, the EIF trusts Partech Ventures, a leading venture capital fund in Europe. Partech Ventures secured strong means by setting up a team of highly qualified and dedicated professionals to this activity", said Pier Luigi Gilibert, Chief Executive of the EIF.

KfW´s CEO Dr. Ulrich Schröder added : “Our commitment is part of our long-standing cooperation with European promotional institutions. In spring of this year, we have issued together with the European Commission a declaration to enlarge our common activities and to support growth of the European economy. The benefit of our cooperation extends well beyond capital investments.  All the partners will profit from a better entrance into the respective markets which are no longer national but European and even global.  The different financial support mechanisms of each promotional institution combined will strengthen one of the leading European venture funds specialized in the digital economy.”

"Our recent European investments perfectly summarize the fund’s and Partech Ventures’ strategy in general: to invest in companies that aim at reaching global leadership by breaking the rules of their industry", said Omri Benayoun, General Partner at Partech Ventures and responsible for Partech Growth.

 
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