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Partech closes third seed fund at $100 million to target post-COVID innovations

Partech has closed its third seed fund as the venture capital firm seeks to expand investments across a range of sectors it believes will be even more critical in the wake of the coronavirus.

The fund, Partech Entrepreneur III, will back companies in areas such as health, work, commerce, finance, mobility, and AI. Partech has continued investing during the lockdown period in companies based in Europe, the U.S., and Asia.

In a press release, the firm said it believes the lockdowns will accelerate many of the digitization trends already happening in health care and work. Startups, rather than large companies with legacy businesses, will be in a better position to leverage these emerging trends, according to Partech.

Partech is a global investment firm. While the bulk of its partners and operations are in Paris, it also has offices in San Francisco, Berlin, and Dakar. The firm has $1.5 billion under management and makes investments that range from $200,000 to $50 million.

At the seed stage, the firm has more than $300 million in assets, and has made more than 160 investments in 22 countries. Within the seed stage, Partech differentiates between smaller investments in pre-seed rounds up to larger investments in pre-Series A rounds.

During the coronavirus lockdown, the firm reported that it has invested in 8 startups and has committed to 2 more.