In our previous articles, we explored the VC ecosystem in countries like Italy, Ireland, the UK, and more. This time, let's have a look at France.
According to PitchBook data, France is Europe's second-largest VC hub by the amount of capital invested. The ecosystem is growing and expanding year by year, as it shows, in 2021 French startups raised €10.7 billion in funding, doubling the number raised in 2019.
As of now, over 400 venture capital firms and 200K verified startups are listed on La French Tech, a French platform connecting startups, investors, business angels and entrepreneurs. Moreover, France is a country that originated more than 20 unicorns, such as Payfit, payroll software for companies, Ankorstore, a wholesale marketplace uniting brands and retailers, Qonto, a finance solutions platform for SMEs and freelancers, and more.
Having explored the top French accelerators, it’s time to dig deeper into the leading French VC funds.
Kima Ventures
Geography: global
Preferred industries: sector-agnostic
Investment ticket: €150K
Company stage: multistage
Kima is an angel investment fund that belongs to the French telecoms millionaire Xavier Neil. He owned WorldNet, the first French Internet provider, and Station F, the largest startup incubator in France. Kima Ventures helps two or three startups weekly by providing financial aid, support, and access to its network. The fund backed such startups as Wise, a financial technology company, Ledger, a hardware wallet technology for crypto assets, and Cera, a platform for elderly care.
Partech
Geography: global
Preferred industries: sector-agnostic
Investment ticket: from €200K to €75M
Company stage: seed, venture, growth stage
Partech is a global investment platform supporting tech companies worldwide. Apart from financial support, the firm helps with resources through its numerous funds: Partech Africa, Partech Entrepreneur III, Partech International Venture VII, Partech Growth I, and Partech Growth II. The firm invested in Rohlik, a Czech e-grocery platform, Jellysmack, a global creator company, Zeps, a money transfer service helping migrants to send money around the world.
Sofinnova Partners
Geography: global
Preferred industries: life science, healthcare, sustainability,biopharma, medtech, sustainable agriculture and materials/chemi
Investment ticket: undisclosed
Company stage: from seed to late stage
Sofinnova Partners labels itself as "Partners for Life" by offering long-lasting cooperation based on transparency and trust. The firm holds several funds focusing on specific sectors, for example, Sofinnove crossover supports innovative biotech and medtech companies in later stages, Industrial Biotech works with early-stage companies that make a positive global contribution in the agriculture chemicals, food, and materials sectors, Sofinnova telethon focuses on early-stage Italian science startups, and MD Start is an in-house medtech accelerator. Sofinnova Partners financed Abivax, a medtech company helping treat patients with inflammatory, viral diseases, and cancer, Moon Surgical, a platform developer that helps surgeons through computer vision, haptics, and robotics, Prometheus Materials, a zero-carbon emission bio-cement developer, and more.
Seventure Partners
Geography: North America, Europe, Asia
Preferred industries: life sciences, digital technologies
Investment ticket: €500K and €10M per round; up to €20M per company
Company stage: from early to late stage
Seventure is a subsidiary of Natixis Investment Managers, the financial services arm of the second largest bank in France, Groupe BPCE. Seventure Partners invests in high-potential companies operating in digital technology and life sciences and serves as a lead investor in companies it finances. The firm backed such businesses as Sentryc, a German brand protection platform, 77 Foods, a vegetable fat producer, CattleEye, an automated platform for monitoring livestock, and more.
Eurazeo
Geography: global
Preferred industries: sector-agnostic
Investment ticket: undisclosed
Company stage: multistage
Eurazeo helps innovative companies through long-term support, acceleration, and finances. Thanks to prominent French families, David-Weill, Decaux, and Richardson, the VC firm managed to expand its reach to the whole of Europe, North America, and Asia. Additionally, Eurazeo invests in its own capital from small-mid to mid-large buyout segments and cooperates with private fund groups via direct equity co-investments, commitments to primary funds, and secondary transactions. Eurazeo invested in Swile, a digital provider of employee benefit solutions, Grab, a Southeast Asian app offering various services, like financial, mobility, deliveries, and many more.
Omnes Capital
Geography: EU
Preferred industries: complex software, space, cyber security, new materials, industry 4.0, healthcare, human healthcare innovations
Investment ticket: from €1M to €5M
Company stage: Series A and B
Omnes helps innovative European startups financially and strategically. In addition to financing, the VC deals with buyouts, co-investment, and renewable energy infrastructure. The firm supports the youth through its fund, and it meets the UN Principles for Responsible Investment requirements. Omnes backed Therapixel, an AI-based software company for medical imaging analysis, Skillup, a French marketplace that connects companies with training providers, and Prima Vita, a platform offering support for the elderly and those with reduced mobility.
Alven
Geography: Europe
Preferred industries: B2C/B2B marketplaces, productivity and dev tools, vertical AI platforms, consumer social & entertainment, B2C financial services and wellness brands
Investment ticket: undisclosed
Company stage: early-stage
Alven is a Paris-based VC known for backing French unicorns, Qonto, Ankorstore, Algonia, and Dataiku. The firm assists companies financially and strategically. Also, it organizes initiatives, with hiring females, for instance; or, in cooperation with Jericho, a global Web3 community, Alven initiated a program helping Web2 entrepreneurs learn about Web3 through mentorship and workshops. Alven invested in more than 160 startups, including Angle, the first decentralized stablecoin protocol, Akeneo, a Product Experience Management (PXM) solutions platform offering brands and merchants create an engaging customer experience, and Indy, an automated accounting platform.
Ventech VC
Geography: Europe, China and Southeast Asia
Preferred industries: sector-agnostic; focus on SaaS, deeptech, ecomm, marketplace, adtech, media, fintech hardware.
Investment ticket: from €100 - €500K to €2 - €5M
Company stage: early-stage
Ventech focuses on tech-driven European companies that contribute to the environment and society. The VC has two projects, Ventech Europe, directed at the whole of Europe, and Ventech China, targeted at China and Southeast Asia. The firm supported over 200 companies, including Botify, an enterprise SEO platform, Speexx, a mobile and online corporate language training solution, Withings smart health solution provider, and more.
XAnge
Geography: global
Preferred industries: digital, deeptech, impact
Investment ticket: between €1M to €10M at the first check; €250K - €10K in financing rounds
Company stage: early stage
XAnge finances ambitious startups and offers networking and direct matchmaking services, business development, recruitment and team management, and international expansion through its Startup Success platform. The firm has analyzed over 200 cases already. XAnge financed Evaneos, an online marketplace for customized tours, Pina.Earth, which aims to quantify and reward sustainable forestry, NEOBRAIN, an AI talent management platform for business performance, and more.
360 Capital Partners
Geography: Europe
Preferred industries: B2B, B2C, D2C, SaaS, marketplace, deep tech, AI, ML, robotics, business process automation, mass consumer disruption
Investment ticket: €150K - €10M
Company stage: pre-seed - Series B
360 Capital Partners helps disruptive startups with finances, networks, and mentorship. The firm aims at value creation, launching numerous funds to support innovative, tech-driven founders. 360 Capital Partners backed more than 140 companies, like Kampaay, a B2B platform helping to organize business events, Siteflow, a service management software for
complex industries requirements, Specify, a brand identity platform.
Newfund
Geography: France and the US
Preferred industries: sector-agnostic
Investment ticket: $250K - $2M
Company stage: early stage
Newfund is a VC operating in France and Silicon Valley to support startups that are changing the world. The firm helps enthusiastic companies with high potential growth through financing, providing access to its operating team and its cross-border ecosystem. Newfund backs Oplit, a production planning platform, Kumo, a fast-casual food brand from Japan, Adaxis, a software platform for robotic manufacturing, and more.
Elaia
Geography: Europe
Preferred industries: digital, deep tech
Investment ticket: undisclosed
Company stage: early-stage
Human-centric VC firm, Elaia supports disruptive companies by providing advice and finance through its extensive network of scientists, entrepreneurs, and business enthusiasts. Additionally, the firm partners with scientific organizations and institutions, like France’s National Institute for Research in Digital Science and Technology (Inria). Elaia financed Criteo, a commerce media platform helping brands and publishers meet their business goals, Ornikar, a French online driving school, Mirakl, an e-commerce marketplace platform, and more.
Innovacom
Geography: Europe
Preferred industries: digital and deep tech
Investment ticket: undisclosed
Company stage: early-stage
Innovacom is focused on emerging digital companies, offering long-term financial and strategic support. The firm was created by France Telecom and is associated with Turenne Capital, a French private equity group. Innovacom assists companies financially and by connecting them with partners and customers. The VC firm backed Uavia, an industry 4.0 platform that connects autonomous drones and robots to the cloud, Diabeloop, a diabetes medical device company, and Upciti, a real-time urban data provider.
Karista
Geography: Europe
Preferred industries: health, digital, tech, NewSpace
Investment ticket: undisclosed
Company stage: early-stage
Karista helps promising startups through financing and mentorship. Currently, the firm deploys three European early-stage funds, where Karista helps companies skyrocket. Additionally, Karista asks for a lead or a co-leading position in invested companies, providing support, expertise, and access to its extensive network. The firm guided over 100 companies, including Ludocare, a platform assisting patients with chronic diseases and their families, MoveUp, a remote medical care provider, and i-Lunch, a French delivery for balanced meals.
Serena Capital
Geography: a strong focus on France, Europe, and occasionally in USA
Preferred industries: sector-agnostic, especially DeepTech, enterprise software, marketplaces, entertainment; and excluding CleanTech, MedTech
Investment ticket: from €100K to €15M
Company stage: pre-seed - Series A
Serena supports entrepreneurs who think bold and want to become big tech players. It backs four-five teams yearly to help startups operate on a global scale. The firm also created a peer-to-peer community for C-level companies, Serena Squad, with access to exclusive materials, playbooks, templates, and workshops. Serena invested in such companies as Kardinal.ai, a logistic intelligence platform, Cometh, a blockchain game development studio, Helios.do, a French sustainable alternative bank, and more.
EQT
Geography: global
Preferred industries: sector-agnostic
Investment ticket: €2M - €50M
Company stage: seed to growth
EQT is a global VC organization operating in numerous European cities, including Paris. It supports ambitious, tech-driven entrepreneurs who aim to grow internationally. EQT makes responsible investments through a multi-stakeholder approach, which involves support, mentorship, and financing. EQT Paris advisory team specializes in private equity, infrastructure, real estate, and ventures. It primarily invests in French-speaking companies, like SHL Medical, a Swiss advanced drug manufacturer, or DESOTEC, which creates a mobile industrial filtration technology.
Aglaé Ventures
Geography: global
Preferred industries: sector-agnostic with a preference for marketplaces, software (SaaS, Open-source), content platforms, consumer apps, digitally native vertical brands
Investment ticket: from €100K to €100M
Company stage: seed to pre-IPO
Aglaé Ventures is a global VC company backed by Agache (former Groupe Arnault), which belongs to Bernard Arnault, an LVMH controlling shareholder. The VC provides long-term support to tech-driven companies, offering growth management, digital marketing, brand building, global expansion strategy, and recruitment help. Aglaé Ventures backed Spotify, Lyft, Netflix, Slack, and other big players.
Daphni
Geography: Europe
Preferred industries: sector-agnostic
Investment ticket: £1m – £15m
Company stage: multistage
Daphni is a VC firm and a VC platform with an over 300-user community of business-oriented people - founders, investors, entrepreneurs, and more. The firm invests in a variety of ambitious companies through three different so-called vehicles. Daphni financed Made.com, an online retail platform, Agricool, a platform offering locally grown fruits and vegetables, Modjo, a conversational analysis platform, and more.
EduCapital
Geography: Europe
Preferred industries: edtech
Investment ticket: undisclosed
Company stage: from late seed to Series B
EduCapital believes in the future of European education, so it supports promising companies, platforms, tools, innovative schools, and more. The VC provides finances, and recruitment, process, and go-to-market assistance. EduCapital backed such companies as Labster, an e-learning company that offers virtual lab simulations using math algorithms, Preply, an online language tutoring marketplace, Invivox, which connects doctors for practical training in the field.
C4 Ventures
Geography: Europe
Preferred industries: smart hardware, future of commerce, digital media, future of work
Investment ticket: £1m – £15m
Company stage: early-stage
C4 Ventures is founded by Pascal Cagni, France ambassador for International Investments and Business France Chairman. C4V invests in Series A European startups and later-stage companies aiming for global expansion. In addition, the firm helps with product development, go-to-market strategy, and scaling up businesses. C4V financed Refurbed, an Austrian marketplace of refurbished electronics, Lyst, a premium shopping app offering over 8 million products from various brands and shops, and Everly, a marketplace for online grocery shopping.
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