Daphni secures $215M for its third fund

French VC firm Daphni has announced the first closing of its new fund, Daphni Blue. The firm has successfully raised €200 million (approximately $215 million) and aims to reach €250 million ($270 million) by the end of the year.

Daphni has a track record of investing in notable startups such as Back Market, Swile, Hubcycle, and Pasqal, with a total of 70 European startups funded since 2015.

The new fund will see Daphni investing in 40 additional startups, with key partners including Crédit Mutuel Arkéa, Bpifrance, the European Investment Fund, PRO BTP, and Swen Capital Partners.

Founder Pierre-Eric Leibovici emphasizes the importance of supporting sustainable technologies and services, highlighting the need to differentiate and innovate in a competitive market.

While many VC firms focus on artificial intelligence, Daphni is placing an emphasis on science, particularly in life sciences, biology, physics, chemistry, and mathematics, as the driving force behind future innovation.

The team at Daphni is actively recruiting individuals with diverse backgrounds, including PhD graduates and students, to bring a unique perspective to their investment strategy.

Despite the trend of French universities attracting American researchers, Daphni’s focus on fundamental science predates this movement, showcasing their commitment to innovation and research.

Looking ahead, Daphni aims to deploy its newly raised capital efficiently to generate returns and successful exits for its investors, ultimately proving the effectiveness of its investment strategy.