US-based venture capital firm Partech Ventures closed its latest fund, Partech International Ventures VII, at €400m ($455m) today with contributions from a range of limited partners that included several corporates.
Professional services firm Accenture, networking equipment maker Cisco, communications technology manufacturer Nokia, human resources firm Adecco, cosmetics producer L’Oréal and property developer Unibail were among the LPs, a spokeswoman told Global Corporate Venturing.
Financial software provider Intuit and automotive manufacturer Renault also contributed to the fund, Les Echos reported.
Founded in 1982, Partech Ventures provides funding through a range of vehicles, supplying anywhere between €200,000 for a seed round to €40m as part of a growth-stage round. It generally invests in the online and emerging technologies space.
Partech International Ventures VII is the seventh VC fund to be raised by the firm, which also has two offices in Europe, and was closed at its hard cap. It has 30 LPs altogether, including undisclosed business angels, entrepreneurs and tech company executives.
Partech Ventures has now raised almost €1bn since the start of last year for a total of four funds, including Partech Growth, which closed at €400m in June 2016 with backing from Renault, Carrefour, Ingenico Group, AG2R La Mondiale and CNP Assurances.
The firm closed a €100m seed fund six months later that featured Accenture and fellow corporates Carrefour, Edenred, Groupama, Ingenico and Renault among its LPs.