February 4, 2023

Eureka News

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France’s IRIS Capital achieves €110m first closing for its new €150m venture fund • Eureka News Now

According to Atomico’s new State of European Tech 2022 report, France has taken the UK title as the third largest listed tech nation, while the UK slips to fourth place. This has nothing to do with Brexit, of course… Meanwhile, Sista, the Paris-based organization campaigning for more finds for women founders, recently closed €30m of a proposed €100m fund to further their goals. It seems France is definitely on the rise when it comes to startups and VC.

Further proof of that thesis came this week with the news that France-based IRIS Capital has achieved the first €110 million closing on its new €150 million venture fund (IRIS Venture IV) and plans to hold a second closing in Q3 2023.

The new fund will focus on seed and Series A investments and will focus on France, Germany and across Europe. This is the fourth early stage fund raised by IRIS. The fund will invest in seed and Series A rounds from €1m to €8m.

LPs include French groups such as Orange, Publicis and Bpifrance, as well as newcomers such as Fred Potter, founder of Netatmo, Yannis Yahiaoui, co-founder of Adot, Amirhossein Malekzadeh, co-founder of Logmatic, Grégoire Delpit, co-founder of ProcessOut, Patrick Asdaghi, founder of FoodCheri or Adrien Nussenbaum, co-founder of Mirakl.

Julien-David Nitlech, Managing Partner at IRIS, commented in a statement: “With this new seed and early-stage fund, we intend to continue our successful journey of selecting, supporting and scaling differentiated technology platforms developed by exceptional founders, who know their market well. To do this, we have built a new team of investors that carries our selective DNA and methods.”

To date, IRIS has invested in companies such as Shift Technology (Insurtech), Talend (Software), Kyriba (Fintech), Lumapps (HR), Jedox (Software), Industry 4.0 and logistics experts such as Exotec (Logistics), Braincube (Manufacturing Software), Forto (freight management), Spinergie (offshore), platforms like Virtuo (mobility), Yubo (social) and data specialists like Talon.one (marketing), Red Points (brand protection) or Scality (cloud). Recent investments include Spinergie in France, Helu in Austria and 2 others to be announced early next year.