Partech closes €300m impact fund despite 'toughest fundraising environment in a decade'

Paris-based venture capital firm Partech has closed its debut impact fund at €300m, despite an overall tough fundraising environment, particualr for impact and climate.

The Partech Impact Fund will back mid‑stage European B2B tech firms helping to decarbonise and digitize global value chains across sectors such as clean production, sustainable agriculture, mobility, and digital health.

The firm said the vehicle fills a structural gap for growth‑stage impact firms seeking investors with both scale‑up capital and operational expertise.

“Impact‑native companies reaching commercial maturity need investors who bring more than capital,” said Arnaud Minvielle, general partner at Partech, in a press statement.

“They need strategic, operational, and scaling capabilities typically found in private equity," he continued. "Our fund was built precisely for this transition phase.”

LPs include Allianz SE, Bpifrance, the European Investment Fund (EIF), the British Business Bank, and Visa Foundation, alongside new backers such as COFIDES, Neuberger Berman, and QIC. The fund is managed by a team formerly from Bain Capital, McKinsey, and Bridgepoint.

Rémi Said, general partner at Partech, said building the fund in one of the "toughest fundraising environments in a decade” was a test of conviction, adding that returns from impact‑native companies are proving “mutually reinforcing” with sustainability goals.

Global fundraising for VC firms hit a eight-year low in 2026.

About 40% of the fund has already been invested, the company said, including in xFarm Technologies, Makersite, Gireve, and the UK‑based FYLD platform.

Founded in San Francisco 40 years ago and headquartered in Paris, Partech manages around €3bn across 220 companies in 40 countries.