Ventech celebrates €150m fund raising

Ventech has reached a final close of its third venture capital fund, Ventech Capital III, at €150m as targeted. The fund, sponsored by Natixis Private Equity, attracted several new investors, such as AGF, CDC Entreprises, the Groupe Caisse d’Epargne and Société Générale. Nearly half of the fund has been raised with new investors, illustrating the strong track record and experience of the Ventech team.

Ventech Capital III already has six portfolio companies, including Actogenix (Administration of therapeutic proteins and peptides), Crocus (Supplier of MRAM products and technologies), MXP4 (Digital Interactive Music Format), Skyrecon (Security Solutions Software) and Viadeo (Networking via Internet). The fund will continue to invest in Ventech’s focus area of early stage information technology (software, hardware and communications, and applications and services) and biotechnology.

Ventech invests principally in France, but has also made significant investments in Germany and Switzerland, in particular in life sciences. The Ventech team also occasionally looks at investment opportunities in the US and Israel.

Outside France, Ventech has made it a rule always to invest alongside a first-rate local partner, as investing in start-ups requires the close monitoring of investments and an intimate knowledge of the country’s social, legal and economic environment.

With its third fund, Ventech now has €325m under management including the funds Ventech II (€112m) and Ventech I (€62m). Successes from these funds include MeilleurTaux, the first company to IPO on the Alternext Market at €150m, with a 15x multiple; Musiwave, sold to Openwave for US$120m with a 10x multiple; and Alantos Pharmaceuticals, sold for US$300m to Amgen generating a 5.5x.

Global Private Equity acted as placement agent for the new fund.