The Paris-based venture capital firm Partech has announced the final close of its debut impact fund at €300M, aiming to bridge the gap in growth capital for European industrial tech companies. The fund targets 15 B2B companies with revenues above €10M, focusing on clean manufacturing, sustainable agriculture, green construction, and digital health, with its carried interest tied to impact performance metrics for the first time.
Partech’s fund will invest in companies operating across clean manufacturing, sustainable agriculture, green construction, new mobility, economic empowerment, and digital health. The fund has already invested in SustainCERT, a climate verification and certification platform based in Luxembourg, though the investment size remains undisclosed.
The investor base includes Bpifrance, the European Investment Fund, Legrand, LCL, and Société Générale, a mix of public development institutions and strategic corporate investors. The fund is registered as an Article 9 fund under the EU’s Sustainable Finance Disclosure Regulation, subject to binding sustainability objectives.
Partech’s carried interest is linked to impact performance, aligning fund economics with outcomes. The target companies, with revenues above €10M, need institutional support and growth capital to expand across Europe’s markets, each with unique regulatory environments and talent pools.
Partech Impact is part of a larger trend, alongside firms like Breakthrough Energy Ventures and Deep Tech Fund, targeting similar growth-stage climate tech companies. Partech’s distinct approach combines European roots with a fund structure that holds companies accountable beyond financial returns.