Paris-based global technology investment firm, Partech has closed its fourth seed fund. The Partech Entrepreneur IV was closed at €120 million hard cap, making it the biggest seed fund for the VC yet.

The investment round saw participation from financial institutions, corporations and 35 entrepreneurs who were previous recipients of its investments. According to the VC, backers of the round are entrepreneurs, business angels and senior managers of tech groups that are both public and private.

The VC firm plans to invest funds between €300,000 and €3 million in around 50 startups across the globe.

The target and the hard cap were raised in response to investor interest. Partech Entrepreneur II hit its new hard cap of €100 million, closing the fundraising round with more than triple the assets of Partech Entrepreneur

The new fund, he says, will continue the strategy pursued by its predecessor. Specifically, Partech Entrepreneur II is targeting startups with the capacity for major technological innovations that are destined to become game changers in high-potential markets.

These companies include Flirtey, a startup that specializes in e-commerce and drone product delivery. It also includes Elon Musk’s Hyperloop One, which is developing a new mode of transportation that will move people and things more quickly while having little impact on the environment, Resolution Games, a virtual reality game studio created by the creator of Candy Crush, and Alan, the first independent health insurer to be launched in France in thirty years.More about Partech

Following on the heels of Partech Entrepreneur I, Partech Entrepreneur II was launched in April 2015 to fund startups in the seed phase.

Romain Lavault, now the General partner of the VC firm, started France’s first AI software company in 2002, receiving the most significant seed round France had seen at that time, €5 million from the firm. Afterwards, he rejoined the company after his departure in 2011.