British Business Bank has committed €20m to Partech Partners’ inaugural €300m Impact Fund.
The commitment follows a €30m investment made in 2021 into Partech Growth II, a €650m fund.
Partech, which was founded 40 years ago and is headquartered in Paris, invests in technology businesses globally.
Its Impact Fund focuses on European companies developing solutions to environmental and societal challenges.
The fund adopts a multi-thematic investment strategy, targeting areas including clean production, sustainable agriculture, clean construction, new mobility, economic empowerment and digital health.
The British Business Bank said its investment in pan-European funds is intended to ensure UK companies are included within their geographic focus and benefit from international capital flows.
The fund has already invested in UK-based Fyld, an AI-powered frontline intelligence platform for the infrastructure sector, as part of a $41m Series B funding round.
Christine Hockley, managing director and co-head of funds at the British Business Bank, said: “Our fund investments are designed to increase the availability of capital for UK businesses, with a focus on the growth stage.
“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.”
Robert Greenwood, senior investment director, funds, at the British Business Bank, said: “We have been working with the team at Partech for five years.
“This new commitment reflects our shared values not only when it comes to supporting scale ups, but that purpose and returns can go hand-in-hand.
“Together, we can help businesses to grow while creating meaningful impact in the UK and beyond.”
Rémi Said, general partner at Partech Partners, said: “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.
“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.”
