Ventech raises €140m

The Paris-based firm holds first close on its fifth European fund.

Early-stage VC firm Ventech Capital held an initial close on its fifth institutional European venture fund at €140 million ($170 million).

Ventech V will continue the Paris-based firm’s strategy of making seed and Series A investments in European tech startups, with initial check sizes ranging from €2 million to €5 million. The firm, now more than halfway to its targeted hard cap of €250 million, said it plans to hold a final close on the fund in a few months.

The firm’s predecessor vehicle in the series, Ventech IV, closed at its €100 million target in 2011.