Partech Ventures, a prominent backer of UK tech companies, has closed a €400m (£353m) technology investment fund.
The ‘Partech International Ventures VII fund’ attracted 30 European and US investors alongside business angels, entrepreneurs and technology executives.
The European Investment Fund and Bpifrance invested alongside corporates including the French lottery, Accenture, Cisco Systems, Nokia, Adecco and L’Oréal.
According to a statement, the fund will seek to invest in Series A and Series B rounds. It has, the statement added, already completed 10 investments in Europe and in the US.
A spokesperson told Tech City News: “The UK, London in particular, has a great talent pool and a capacity to attract international talents. Hopefully this will not go away with Brexit.
“Our investment strategy is pan-European and transatlantic. Our goal is to deploy two thirds in Europe and one third in the US. In Europe, we look at all opportunities, but the three most significant hubs are the UK, France and Germany.”
Partech usually invests anything from €200,000 in Seed through to €40m in growth funding.
In a previous interview with Tech City News, Romain Lavault, general partner at the firm, said Partech was looking to back all things digital.
Additionally, he noted the criteria for investment varied depending on each deal, but highlighted it was always looking for companies whose potential could be realised in a large market.
So far, Partech’s investments in the UK include Kantox, Made.com, Brandwatch and Push Doctor.
Today’s news comes after the firm raised a €100m Seed fund, known as ‘Partech Entrepreneur II’, last year.