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Daphni Blue: French VC Firm Raises €200 Million to Fuel Startup Innovation
French venture capital firm Daphni has successfully closed the first round of its new fund, Daphni Blue, raising €200 million (approximately $215 million), with plans to reach €250 million by year’s end. This fund aims to invest in 40 innovative European startups, focusing on sustainable technologies and scientific advancements.
In a significant development for European venture capital, French firm Daphni has announced the first closing of its new fund, Daphni Blue, raising €200 million (around $215 million). The firm anticipates reaching a total of €250 million ($270 million) by the end of this year. This fund will enable Daphni to invest in an additional 40 startups, continuing its commitment to fostering innovation across Europe.
Daphni’s Investment History and Vision
Daphni has built a strong track record since its inception in 2015, investing in over 70 startups, including notable companies such as:
- Back Market
- Swile
- Hubcycle
- Pasqal
The firm’s founding partner, Pierre-Eric Leibovici, emphasized the importance of differentiation and sustainability in their investment strategy. He stated, “We need to ask ourselves how we can both differentiate ourselves, and support technologies or services that are sustainable when we invest in new projects.”
Focus on Science and Innovation
Unlike many venture capitalists who frequently highlight artificial intelligence, Daphni is shifting its emphasis towards science as the foundation for future innovations. Leibovici remarked, “When you talk about quantum computing, that’s fundamental physics combined with hardware and software.” He believes that breakthroughs in large language models stem primarily from mathematics.
Expanding the Investment Team
To support its new fund and strategy, Daphni is on the lookout for diverse talent, actively recruiting individuals with advanced scientific backgrounds. Notably, the investment team includes a PhD graduate and a PhD student. Leibovici noted, “The new generation of researchers are much more open to commercializing their fundamental and applied research, because they see all their friends around them starting companies.”
Global Reach and Future Plans
While French universities are moving to attract American researchers, Daphni has clarified that its focus on fundamental science predates this trend. “It’s a coincidence. We launched this long before there was this trend,” Leibovici explained. Nevertheless, Daphni remains open to investment opportunities from American researchers launching startups in Europe.
As Daphni prepares to deploy this newly raised capital, the firm is aware that raising funds is merely the first step. Leibovici concluded, “Raising is not an end in itself. What is an end in itself is distributing returns, and therefore exits.”
Conclusion: With Daphni Blue, the firm is poised to support the next wave of startup innovation in Europe, focusing on sustainable technologies and scientific advancements. As they embark on this journey, their strategic approach to investment will play a crucial role in defining their success.
Keywords: Daphni Blue, venture capital, French startups, innovation, €200 million fund, sustainable technology, scientific advancement.
Hashtags: #DaphniBlue #VentureCapital #FrenchStartups #Innovation #SustainableTechnology #Science #InvestmentStrategy
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