Partech: A Portrait of the Franco-American Venture Capital Pioneer
San Francisco, 1982. As Silicon Valley was inventing modern venture capital, a fund was taking shape on the other side of the Atlantic with a bold idea: connect American innovation with European ambition. Forty years later, Partech has become one of the few truly global venture capital funds, with 2.7 billion euros under management, offices across four continents, and a portfolio that runs from Doctolib to pan-African digital champions. Whether you're raising a seed round in Paris or a growth round in Dakar, Partech probably has a vehicle for you.
Screenshot of the partechpartners.com homepage (March 2026)
The story of Partech
Partech is one of the oldest venture capital funds in Europe. Founded in San Francisco in 1982 under the name Partech International, the fund was born in Silicon Valley's fledgling ecosystem. It was an oddity: an investment vehicle designed from the start as a bridge between the United States and Europe.
The early decades: the transatlantic bridge
Through the 1980s and 1990s, Partech invested mainly in technology companies straddling the two continents. The fund built its reputation on its ability to spot European companies capable of scaling into the American market, and vice versa. That was a rare position at the time: most VCs were purely local.
The pivot toward Paris
Over the course of the 2000s, Partech gradually shifted its center of gravity toward Paris. The French tech ecosystem was growing, opportunities were multiplying, and the fund found in France fertile ground for early-stage investing. This pivot didn't mean abandoning San Francisco: it was a two-way expansion. Partech kept its American office while building a top-tier Parisian team.
The African expansion (2017)
In 2017, Partech launched Partech Africa, led by Tidjane Dème out of Dakar. It was a visionary bet: investing in Africa's digital champions at a time when very few European funds were looking at the continent. The first Africa fund raised 70 million dollars. The second, Africa II, reached 245 million dollars at first close in 2023. Partech publishes its Africa Tech VC Report every year, which has become an industry reference. In 2025, the report revealed that African tech funding had reached 4.1 billion dollars, up 25% year over year.
2025-2026: multi-stage maturity
Today, Partech manages roughly 3 billion euros across five distinct investment vehicles. The fund covers a startup's entire life cycle, from seed to pre-IPO. Few funds in the world can claim such complete coverage.
Timeline of Partech's investments and key milestones
The founders and the team
Partech is led by a team of General Partners with complementary profiles, spread across several continents.
Tidjane Dème: the architect of Partech Africa
A General Partner based in Dakar, Tidjane Dème runs Partech's African strategy. His background is unusual for VC: trained as an engineer, he worked at Google before joining Partech to launch the first VC fund dedicated to African tech startups from a sub-Saharan office. His on-the-ground knowledge and pan-African network make Partech Africa a credible player where other funds only have a distant view.
Omri Benayoun: growth
The General Partner in charge of Partech Growth, Omri Benayoun supports European scale-ups expanding internationally. His vehicle targets companies with between 10 and 100 million euros in annual revenue.
Cyril Collon and Bruno Crémel: European venture
Cyril Collon and Bruno Crémel lead the seed and Series A/B venture funds in Europe. Their focus: mission-critical B2B software and the digital transformation of businesses.
Partech's total team numbers between 50 and 200 people, spread across four continents. It's an unusual structure for a VC, closer to an investment advisory firm than a boutique fund.
Partech's investment thesis
Partech's thesis rests on one core principle: support startups at every stage of their growth, with local teams on the ground.
Four distinct investment lines
Partech Seed: early-stage B2B in Europe. Tickets from 500K to 3 million euros. The fund looks for startups with a working product and their first customers. A particular focus on enterprise software, cybersecurity, and applied AI.
Partech Venture: Series A and B. Mission-critical software, digital transformation of large companies and SMEs. This is the fund's historical core.
Partech Growth: European scale-ups with between 10 and 100 million euros in revenue. Tickets from 10 to 100 million euros and up. The goal is to support international expansion and prepare for an exit, whether IPO or acquisition.
Partech Africa: pan-African digital champions. Tickets from 1 to 15 million dollars. Coverage of the entire continent, with an emphasis on Nigeria, Kenya, and South Africa. Sectors: fintech, e-commerce, logistics, edtech.
Partech Impact (new): impact-driven B2B tech, a 300 million euro fund in the process of closing in 2026. Investment in companies whose model combines financial performance with measurable environmental or social impact.
The hands-on approach
What sets Partech apart from most multi-stage funds is its physical presence in every geography. The fund doesn't manage Africa from Paris. It doesn't manage growth from seed. Each line has its own team, its own office, its own networks. That's more expensive to run, but it's what enables real operational support: recruiting, go-to-market, customer introductions, pricing strategy.
Notable portfolio
Partech has invested in more than 220 companies across 40 countries. Here are the most notable:
Partech's leading investments and notable exits
Doctolib: a platform for booking medical appointments and teleconsultation. A French unicorn valued at more than 5 billion euros. It's probably the best-known name in Partech's portfolio.
AB Tasty: a web optimization and personalization platform. The leader in the A/B testing market in Europe.
Akeneo: a Product Information Management (PIM) solution. The global leader in its category, used by hundreds of retail and e-commerce brands.
Qevlar AI: an AI-based cybersecurity startup. Raised 30 million dollars in March 2026, with Partech as a co-investor.
Fyld: AI infrastructure. Raised 41 million dollars in February 2026. A sign of Partech's shift toward applied AI.
CO2 AI: a tool for measuring and reducing corporate carbon footprints. A spin-off of BCG, backed by Partech Impact.
The portfolio reflects the fund's multi-stage, multi-geography DNA: from French seed startups to African scale-ups, by way of global SaaS leaders.
Key figures
- Founded: 1982 (San Francisco)
- Headquarters: Paris (main), with offices in San Francisco, Berlin, Dakar, Dubai, and Nairobi
- AUM (assets under management): roughly 3 billion euros
- Companies backed: 220+ across 40 countries
- Seed IV fund: 120 million euros
- Growth I fund: 400 million euros
- Africa II fund: 245 million euros+ (first close 2023)
- Impact fund: 300 million euros (closing 2026)
- Team size: 50-200 people
- Stages covered: Seed, Venture (A/B), Growth, Africa, Impact
- Tickets: from 500K euros (seed) to 100M euros+ (growth)
- Geography: Europe, Africa, United States, Middle East
FAQ
How big is Partech?
Partech manages roughly 3 billion euros under management across five investment vehicles: Seed, Venture, Growth, Africa, and Impact. It's one of the largest French venture capital funds, with an operational presence in 6 cities across 4 continents.
Does Partech invest in Africa?
Yes. Partech Africa, launched in 2017 and led by Tidjane Dème out of Dakar, is dedicated to pan-African tech startups. The second Africa fund reached more than 245 million dollars at first close. Partech was the first major European VC to establish a permanent office in sub-Saharan Africa.
What sectors does Partech invest in?
Partech invests in B2B SaaS, cybersecurity, AI, fintech, digital transformation, climate tech, and impact startups. The sectors vary by vehicle: the Seed fund focuses on European B2B, while the Africa fund covers pan-African fintech, e-commerce, and logistics.
How do you pitch Partech?
The most effective route is an introduction through a portfolio founder or an ecosystem partner. Partech has an application form on its website, but the conversion rate on cold applications stays low for a fund of this size.
