Partech Partners has secured a €20m (£17.3m) commitment from the British Business Bank in support of its €300m (£260m) Impact Fund.
Founded 40 years ago, Partech is a Paris-based technology investor that backs European impact firms addressing societal and environmental challenges.
British Business Bank’s backing of the fund follows a €30m (£25.9m) commitment it previously made in 2021.
The bank said it has chosen to invest in pan-European funds headquartered outside of the UK as part of its strategy to ensure the UK remains included in the geographical strategies of European investment vehicles.
“Our fund investments are designed to increase the availability of capital for UK businesses, with a focus on the growth stage,” said Christine Hockley, managing director and co-head of funds, at British Business Bank.
“This means not only supporting the launch of UK-based funds but also encouraging European growth funds to invest in the UK.
“Our commitment to Partech’s Impact Fund demonstrates how we work with European funds to ensure UK companies benefit from the capital and expertise of global investors.”
The fund recently invested in the UK-headquartered AI intelligence platform Fyld, which closed a $41m (£32m) Series B round.
“Building a first time team and a first‑time fund in this environment was a real test of conviction and the outcome speaks for itself,” Rémi Said, general partner at Partech Partners.
“We are proud to have attracted a world‑class, global LP base and to be backing companies that are shaping more sustainable value chains across Europe, with tangible ROI for their customers; demonstrating that impact and strong economic performance are mutually reinforcing.”
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