Headquartered in Paris, The Family has just raised a new €15 million funding round to accelerate more European startups in the future. The round was led by LGT Capital Partners and joined by HummingBird Venture, Project A, eVentures and others. According to The Family Co-founder Oussama Ammar, the accelerator will use the fresh capital to do more of the same, while this funding round will give the company some extra stability.
With the new funds, The Family also plans to invest in every initial funding round after a startup joins the fellowship. This means that if a The Family startup can find a lead investor, The Family will automatically join the round with the same valuation and conditions.
The Family has fine-tuned its startup fellowship program over the years. Every quarter, around 20 startups join the accelerator and its onboarding sessions in Paris, Berlin and London. In the Paris-based The Family headquarter, the team is focused on product and engineering. In London, they help startups raise money, and in Berlin, the accelerator help startups mostly with execution and operations.
The Family mostly helps startups mostly with advice and connections, but there is no big investment by the accelerator itself, and no demo day and end of batch. Startups which want to becom part of The Family need to be willing to give away 5% of their equity.
For more info, check out the interview we did with Alice Zagury ealier this year. Alice is the Co-founder of The Family and kind of the queen bee of the Paris startup scene.