Picture credit: Alven
Alven, a Paris-based early-stage backer, introduced on Wednesday that it has closed a €350M fund to again European entrepreneurs at Seed and Collection A phases.
The French VC’s sixth fund, Alven VI, has exceeded its preliminary goal of €300M, making it the biggest early-stage fund raised in France. At the moment, the corporate has €2B in Property Underneath Administration (AUM).
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Moreover the present traders, Alven VI fund additionally attracted a number of new traders from European, North American, and different world establishments. With the most recent fund, the corporate will make investments between €100k to €15M and has a considerable reserve for follow-on investments.
Guillaume Aubin and Charles Letourneur, co-founders of Alven, say, “We satisfaction ourselves in constructing long-term relationships with entrepreneurs, and this additionally applies to traders in Alven. Not solely our present LPs have regularly invested in us, however we’ve additionally welcomed various new traders that need to be a part of the French Tech success story.”
Alven: What it’s good to know
Based in 2000 in Paris, Alven has made unicorn investments in corporations like Qonto, Dataiku, Algolia, Stripe, and Ankorstore. Since its inception, the VC has invested in 160 groups throughout Europe and European groups within the US, and has realised greater than 70 exits, together with the current sale of Sqreen to Datadog, Cardiologs to Philips, and Frichti to Gorillas.
The VC agency has just lately opened an workplace in London and plans to rent throughout funding and portfolio assist groups.
Over the previous few months, the corporate added portfolio corporations in France and areas just like the USA, UK, Finland, Sweden, Poland, and Switzerland.
The corporate additionally launched Operation3, a expertise programme to establish and prepare folks in Web3. Additionally, the corporate introduced quite a few initiatives to foster and nurture a pool of feminine executives to advertise range inside its portfolio govt committees.
The Alven VI fund will proceed to speculate throughout fintech, marketplaces, enterprise software program, social, and leisure. The staff may also deal with new sectors, together with crypto and local weather tech as properly.
Alven says {that a} portion of the brand new fund shall be deployed throughout Europe and European founders within the US in sectors the place it has constructed deep experience.
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