30 November 2021: British Patient Capital has made a €30m commitment to Partech Growth II, which announced its final close today at €650m.
Partech is one of the most active tech-specialist venture capital firms in the world, and this latest fund is one of the largest growth funds in Europe. It aims to back between 12 and 15 digital scale-ups, investing between €20m and €70m in each business across sectors such as enterprise software, consumer, healthcare, financial services, education and other frontier technologies.
Judith Hartley, CEO, British Patient Capital, said: “We are delighted to be partnering with Partech on their latest fund. They have a strong track record in backing innovative tech companies, which includes home-grown success stories such as Made.com and Brandwatch. This €30m commitment aligns with our strategy to support later stage UK businesses, and we look forward to working with Partech to produce the next generation of digital leaders.”
Omri Benayoun, General Partner, Partech Growth, said: “We’re humbled and grateful for the support of, and commitment from, our global investors. It allows us to continue to deliver meaningful and strategic assistance to the outstanding community of European tech entrepreneurs who decide to welcome us on their journey.”
Notes to Editors
About British Patient Capital
British Patient Capital is the trading name of British Patient Capital Limited, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s plc’s commercial arm.
Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large scale businesses. Launched in June 2018, British Patient Capital has £2.5bn to invest over 10 years in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more at britishpatientcapital.co.uk.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.
Born in San Francisco and Paris, Partech is one of the most active tech investors in the world, bringing together capital, operational experience, and strategic support for entrepreneurs at seed, venture and growth stages. The current portfolio includes 200+ companies in more than 30 countries, of which 12 are valued at more than $1b: Alan, Bolt, Cazoo, Jellysmack, Made.com, ManoMano, People.ai, Rohlik, Sorare, Toss, Wave, Xendit