It’s been announced that Partech International Partners has performed a management buyout from it’s parent firm Partech. The deal was led by managing partners Philippe Collombel and Jean-Marc Patouillaud (HEC MBA ’90) and received the support of their investors. This comes after the firm called in it’s limited partners to help mediate disagreements amongst the partners earlier this year (which is fairly unique to say the least!). As others have pointed out, does this call into question the firms’ international venture model? Or, as both parties imply that they still plan on co-investing together, is this simply a matter of allowing both teams to refocus? It’s a probably a bit of both. The benefits of having people on both sides of the Atlantic really show themselves in later stage VC investments and both sides will appreciate having a network abroad at some point, but it’s probably not critical.