Partech Ventures has launched Europe’s biggest digitalstartup fund, with €60 million earmarked to fund innovative tech and Internet companies. A positive initiative for the entrepreneurial culture and the digital ecosystem – two of the mainstays of the Digital for all, Now movement!
What do e-learning platform Kartable, online retailer of “customisable” clothes, Mood by Me, miniature cloud storage console Lima and Klara, an app for communicating with doctors, have in common? Apart from their success, these startups are also all part of the portfolio of Partech Ventures, a venture capital fund that helps early-stage tech companies everywhere from Paris to Berlin and Silicon Valley.
€60 Million TO finance 70 Tech startups
A few months after launching Partech Entrepreneur, a €30 million business angel fund, Partech Ventures is doubling down with the €60 million Partech Entrepreneur II, Europe’s largest digital startup fund. The funds are provided by a number of partners, including Bpifrance and major groups such as Carrefour, Renault-Nissan and Econocom. But then entrepreneurship and digital innovation are part of Econocom’s DNA. As Bruno Grossi, Executive Director, explains:
“Creativity and initiative are essential for the success of major digital projects. Supporting the talents who have these qualities, both within and outside the group, is therefore our duty. It’s also a constant source of innovation and rejuvenation.
CHANGING THE RULES IN HIGH-GROWTH MARKETS
The lucky beneficiaries of the fund will receive between €300,000 and €1 million, with the possibility of obtaining further funding during the next round of financing. So what’s the key to landing these major investors? Just come up with an innovative app or disruptive technology: whether it’s in the field of connected devices, Big Data or retail. But be warned – competition is fierce: some 3,000 applications are submitted every year. Only the most promising ideas make it into the Partech Ventures hall of fame, which currently includes Dailymotion, La Fourchette, Yelp, LastMinute.com and Sigfox.
And it’s not just about financing: the startups selected also benefit from the expertise and advice of serial-entrepreneurssuch as Romain Lavault and Boris Golden, the Partech Shaker, 2,200 m² of office space for startups in the centre of Paris boasting high-end, flexible private offices, and an impressive ecosystem.
In the open innovation campus, run by Marie Raichvarg, resident startups have access to office space as well as interactive, collaborative areas to develop synergies thanks to the latest digital innovations and a series of events to promote learning and exchanges … An ideal environment for tomorrow’s digital makers!
Photo credit: Paolo Margari – cheap portable maps: 1 euro coin [macro] / Flickr.com / Licence CC BY-NC-ND 2.0