December 5th, 2023
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Paris, December 5th, 2023. Partech, the global technology investment firm, announces the first closing of its Growth Impact Fund and its first investment in SustainCERT, an Amsterdam-based climate impact verifier.
Climate change is now one of the biggest global challenges and Europe has a leading role to play. Today, Europe hosts a vibrant technological ecosystem to support the environmental transition, benefiting from numerous tailwinds: public funding, strong regulations which are encouraging Corporates and SMEs to transform their operating and commercial models, while committing to net-zero ambitions. This is triggering a need for innovative climate tech solutions. As a result, Europe has become the leading ecosystem in the climate domain: 40% of the global climate tech patents have been originated here in the last years i.e. 1.5 times more than in the US.
However, there remains a gap in private investment opportunities available to support the scale-up of these innovative businesses. Most of the Impact investment funds are focused on companies at the early-stage and very limited players are supporting their next stage of development, once they start to reach commercial maturity. This is the objective of Partech Impact, a debut fund which has a target size of €300 million.
“Partech Impact’s objective is to partner with 15 Impact-native technological global champions, addressing fundamental climate and social challenges. The objective is to support their growth journey, filling the gap that we see in the current funding landscape between early-stage funds and large buy-out funds”, says Rémi Said, General Partner, Partech Impact.
“We will invest in B2B companies that have reached at least €10M of revenues, transforming deeply the value chains they operate in”, adds Arnaud Minvielle, General Partner, Partech Impact. “Our thematic approach prioritizes businesses which have a strong impact on the industrial, agri-food, environment, and inclusion value chains.”
Alongside capital, the companies will be able to tap into the extensive knowledge and expertise of the team mixing buy-out, growth, tech, operational and consulting experience. These companies can expect hands-on support ranging from shaping the strategy, and establishing solid foundations and operating systems, to driving commercial traction, facilitating organisational growth, and supporting a robust framework for measuring their impact; all core capabilities of the team and very much required at this stage of maturity. Partech Impact has indeed assembled a team with high profile track records and experiences from Bain Capital, Eurazeo, Morgan Stanley, Blackrock and McKinsey, fully leveraging the capabilities of the Partech platform.
Partech Impact welcomes a diversified and international asset of investors including Bpifrance, the EIF backed by the InvestEU programme, Legrand, LCL, and Societe Generale.
Operating as an Article 9 fund, as defined under the EU’s Sustainable Finance Disclosure Regulation: all impact measurement and creation is prioritized at each stage, Partech Impact is committed to ensuring the impact-nativity of each investment at every stage of the process from initial screening, to due diligence, through to post-investment involvement.
“This milestone marks a leap for the European tech ecosystem. At Partech, being a pioneer is in our DNA as showcased with the successful launches of different investment strategies in the last 10 years for example: Seed (2013), which successfully closed its 4th vintage in December 2022 and Growth (2014), which successfully closed its 2nd vintage in October 2021”, says Philippe Collombel, General Partner at Partech. “The launch of Partech Impact is a new milestone in our entrepreneurial journey and reinforces our commitment to driving positive change through sustainable innovation.”
Partech Impact has already successfully finalized its first investment in SustainCERT, an Amsterdam-based climate impact verifier playing a critical role in the digital verification and certification of carbon reduction projects for project developers and corporates. SustainCERT has already showcased strong proof of a successful business model with material revenues and blue-chip customers and is now ready for its next phase of growth. Partech’s Impact team is excited to support the company in this phase, leveraging their experience and expertise to support the scale up of SustainCERT commercial and operational capabilities, with the objective of helping the company to reach global leadership.
Partech is a global tech investment firm headquartered in Paris, with offices in Berlin, Dakar, Dubai, Nairobi, and San Francisco. We are a team made up of independent thinkers. We are unconstrained by hype, trend or fixed ways of working. We believe in the power of alliance in action, working together and side-by-side with the founders we back, in the shared pursuit of success. We bring together capital, operational experience and strategic support for the entrepreneurs we back from seed through to growth stage. Born in San Francisco 40 years ago, today we manage €2.5B AUM and our current portfolio of 220 companies in 40 countries, across 4 continents.
About Partech Impact Team
Partech Impact assembled a very strong team to deliver on its strategy combining buy-out, growth, tech, operational and consulting experiences. At the origin of the project, Rémi Said (acting as General Partner Partech Impact, formerly Executive Vice President at Bain Capital), Arnaud Minvielle (acting as General Partner Partech Impact, formerly Senior Partner at McKinsey) and Karim Tadjeddine (acting as Senior Advisor, formerly Senior Partner at McKinsey) joined by a talented team of 3 Investment Directors: Trisha Nangia (formerly Head of Strategy and ESG at Blackrock), Laetitia Marcade (formerly Senior Associate at Partech Growth) and Alizé Laurent (formerly Associate at Eurazeo).
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