French Fundraising Shows Startup Cash Is Pouring Into Paris
- Partech, Idinvest closing rounds this month, latest in series
- Artificial intelligence, e-commerce among investment themes
A picture taken on July 14, 2016 shows an aerial view of Paris with the Seine river, the Eiffel tower, the Trocadero, and the Montparnasse Tower. / AFP / THOMAS SAMSON (Photo credit should read THOMAS SAMSON/AFP/Getty Images)
Photographer: Thomas Samson/AFP via Getty ImagesTwo of France’s bigger venture-capitalists, Partech Ventures and Idinvest Partners, are closing funds this month, adding to recent examples of investors pouring money into European startup investments.
Partech Ventures said Monday it increased its latest venture fund to 400 million euros ($456 million) from the likes of Cisco Systems Inc., Nokia OYJ, Renault SA and others -- more than it had initially anticipated when it closed the first round a year ago. Idinvest Partners, another Paris-based VC, expects to close a 250 million euro fundraising in the coming weeks, including from state-backed Bpifrance, insurance companies, and financial investors, said Benoist Grossmann, managing partner.