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French VC Part'Com launches new technology fund

French venture capital firm Part'Com has launched a new technology fund with an ambitious target of E150m.

Venture fundraising conditions have been miserable for the last 18 months and look unlikely to improve significantly in the immediate future. If successful in meeting its target, Part'Com's fund would be one of the largest to have been raised in Europe since the later stages of the technology boom.

The firm is part of the CDC Ixis group and has been investing in technology, media and communications since 1986.

Irish firm ACT Venture Capital and German firm Polytechnos Venture Partners have been the only success stories this year to date. Optimists, however, argue that conditions for venture investing have rarely been better and this should be a good moment to be committing to quality funds.

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