French VC firm closes new €115M fund to invest in European B2B or B2B2C startups with global ambitions

Elaia-Partners-Office

Elaia Partners, the Paris-based VC firm, today announces that its new Venture Capital fund, Elaia Delta Fund, has reached its Initial Closing at €115 million. The new fund pursues the fundamental drivers of Elaia Partners’ historical strategy targeting European earlystage digital opportunities based on high disruption and on deep technology. Elaia Partners will focus on B2B or B2B2C business models demonstrating global ambitions.

Thanks to its increased fund size and its optimized portfolio management model, Elaia Partners will continue its successful investment strategy by heavily supporting its best performing investments through their successive fundraisings.

Xavier Lazarus, Partner at Elaia Partners, says: “The timing for raising a new fund and investing at an early stage in Europe could not be better. Especially, the French deep tech startups are enjoying a powerful momentum: the best data scientists, software engineers, AI researchers and applied mathematicians seize the opportunity to transform their knowledge into fantastic products, while benefiting from the great level of maturity reached by the entrepreneurial ecosystem. We truly believe that the success stories backed by Elaia Partners so far such as Criteo, Mirakl, Sigfox or Teads, are just a starting point of what will be achieved in the future.”

In this Initial Closing of Elaia Delta Fund, Elaia Partners welcomes all its major repeating investors, including Bpifrance and EIF, Sabadell Asset Management, MGEN, BNP Paribas, EDF, Nexity, and many others. Elaia Partners stated that they will keep subscriptions to the fund open due to ongoing interest from additional investors. The firm is expecting to reach its €150M hard cap through a final close in the next few months.

Philippe Gire, Partner at Elaia Partners, says: “This highly successful fundraising is essentially due to the quality of our investment strategy and the consistent performance delivered since inception 15 years ago. It leads to compelling net cash returns for our existing investors, with close to €300M already returned from our previous funds, representing net returns above 3x.”

Elaia Partners has started to deploy the fund earlier this year, with already three disclosed investments:

  • Containo.us, an open source telecommunication solution provider for the Enterprise data center, which first product, Traefik, faces exceptional market traction.
  • FretLink, a software company providing a SaaS platform and apps linking up shippers to carriers and disrupting the fret industry.
  • Realytics, an AdTech company developing a technological and ROI-driven solution focused on TV advertising. It offers brands and agencies a refined way to track, measure and optimize their TV campaigns.

Two other investments (one in a robotics / AI company and the other in an AdTech specialist) will soon be disclosed.