Ovni Capital is a brand new French VC agency backing startups with international ambitions • robotechcompany.com
When you’re a French entrepreneur, there’s a brand new enterprise capital agency on the town. Ovni Capital is asserting a primary closing of €50 million ($54 million at at the moment’s trade fee) for its early-stage fund.
The agency’s two basic companions Arnaud Laurent and Augustin Sayer have already invested in a number of firms of their earlier jobs. Laurent has labored with Didier Soucheyre to create XLR Capital and put money into startups like MWM and Onoff. He’s additionally invested in early-stage startups by WeSprint, a startup accelerator.
Sayer grew up within the U.S. and began his profession there. Extra just lately, he was a companion at Newfund Capital the place he invested in 22 completely different startups, akin to FairMoney and Umiami.
On the subject of the agency’s funding thesis, Omni Capital desires to again new startups with robust worldwide ambitions from day one. Based on the Ovni crew, many French entrepreneurs nonetheless take into consideration international enlargement too late. That’s why the variety of unicorns per capita is increased in Berlin or Stockholm than in France.
“Statistically, we additionally see that French startups are thrice extra more likely to elevate a Sequence B in the event that they take this worldwide strategy from the beginning,” Augustin Sayer mentioned in an announcement.
Along with that concentrate on startups with international staff or startups that talk internally in English, Ovni Capital will favor deep tech startups as a substitute of platform performs, marketplaces or vertical software-as-a-service merchandise. And the VC agency plans to help entrepreneurs by bringing specialists to the board of administrators.
Ovni Capital tried to boost cash from profitable entrepreneurs as a lot as doable. Total, the agency managed to persuade 50 French tech entrepreneurs to again the fund. If a few of them wish to become involved in an operational approach, they’ll signify Ovni Capital on the boards of portfolio firms.
The agency plans to take a position something between €250,000 and €2 million in 30 completely different startups. In some circumstances, Ovni Capital will be capable to put money into follow-on rounds as much as €4 million. The primary portolio firm is Axeptio, a person consent administration startup that just lately raised €3.5 million from Isai, Evolem and Ovni Capital.
