Top Venture Capital Firms & Investors in France

Our complete guide in 2025 for the top investors and VC firms in France.

Contributors: Carl Lager

Last updated: April 21, 2025

Cityscape of Paris financial district during daytime with prominent text overlay: 'Investors in France’Cityscape of Paris financial district during daytime with prominent text overlay: 'Investors in France’

France’s Startup Ecosystem: A Maturing Tech Powerhouse

France’s startup scene has rapidly matured over the last five years, establishing itself as one of Europe’s most dynamic tech ecosystems. Anchored by Paris, the country has emerged as a strong competitor in global innovation, thanks in large part to initiatives like La French Tech, a government-backed effort to accelerate startup growth nationwide. With over 40 unicorns and total startup valuations doubling within half a decade, the momentum is undeniable.

Enterprise SaaS and fintech remain pillars of the ecosystem. Startups such as Qonto and Lydia (now rebranded as Sorcellerie) have carved out dominant positions in digital banking and payments.

However, France’s ambitions go beyond software. In recent years, the ecosystem has expanded aggressively into deep tech, particularly artificial intelligence and biotech—two sectors now attracting some of the region’s largest venture rounds.

AI Momentum and Government Support Drive Growth

AI was the standout vertical in 2023. In addition to new funding rounds, Paris saw the launch of multiple AI labs and a surge of interest from global investors. These advances were supported by robust public backing. French institutions like Bpifrance and the French Tech Souveraineté Fund continue to play a stabilizing role in the market, co-investing alongside VCs to ensure startups have access to capital even during market downturns.

8 black llogos of leading investors in france8 black llogos of leading investors in france

Despite the broader global funding correction, France maintained a strong year in venture capital deployment. In the first half of 2023, startups raised €4.3 billion, placing France just behind the UK and Germany. By year’s end, total investment was estimated at around €9–10 billion, representing a decline from the record-breaking 2022 but still a healthy figure given market conditions.

New Funds Signal Long-Term Commitment

French venture firms remained aggressive in fundraising. In 2023, 29 new funds closed, bringing in €4.7 billion—slightly ahead of the previous year. This new dry powder points to sustained investor interest and positions France for continued growth into 2025.

Government Co-Investment Enhances Stability

France’s venture ecosystem benefits greatly from state-backed investment vehicles. Bpifrance’s Large Venture fund, the Tibi initiative, and the Souveraineté fund work to mobilize public and private capital, particularly for AI and strategic deep tech sectors. This hybrid funding model has helped France weather global VC downturns more effectively than many peer countries.

Leading French VC Firms Across Stages

At the early stage, firms like Partech, EQT Ventures, and Alven remain highly active. Growth-stage funding is led by heavyweights such as Eurazeo, Serena Capital, and Bpifrance, while international investors are increasingly participating in later rounds—especially in sectors like fintech and AI.

France’s Recent Startup Funding Highlights

Several standout deals defined France’s investment landscape last year. Topping the list was Mistral AI, a Paris-based AI startup that raised €105 million in seed funding, marking the largest seed round in European history. The company became a symbol of France’s emergence as an AI powerhouse. Meanwhile, Hugging Face, an open-source AI platform rooted in the French ecosystem, raised $235 million at a $4.5 billion valuation, with investors including Nvidia and Salesforce.

Fintech and Climate Tech Continue to Scale

On the fintech front, Sorcellerie (formerly Lydia) secured a €100 million Series C extension, while Africaworks raised €30 million to expand its fintech-enabled workspace platform. These examples reaffirm France’s strength in financial technology, especially in mobile-first solutions and embedded finance.

Climate tech also saw major wins. Battery innovator Verkor closed an €850 million round to build a new gigafactory, reinforcing France’s leadership in sustainable energy infrastructure. In quantum computing, PASQAL raised €100 million, adding to the country’s growing deep tech portfolio.

France’s 2025 Outlook for Venture Capital Growth

As global markets stabilize, France is entering 2025 with solid momentum and a robust foundation. The AI sector is expected to lead investment activity, driven by rising demand for European alternatives to U.S.-based models and tools. Paris is emerging as a continental hub for AI development, benefitting from both local expertise and international capital.

Meanwhile, biotech, fintech, and climate tech continue to mature, with startups moving from early proof-of-concept to commercialization. France’s hybrid funding model—blending venture capital, corporate investment, and government support—offers a unique resilience that positions it well for future cycles.

France’s VC Ecosystem Stands Out for Stability and Scale

Between a growing pool of institutional capital, proactive government programs, and an increasingly international investor base, France’s VC market is proving both adaptable and forward-looking. For startups and investors alike, 2025 could mark the beginning of a new growth era in French innovation.

All investors in France

Our complete list of all active venture capital firms and investors in France.

AXA Venture Partners
Founded
2015
Investments
94
Exits
11
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Altran
Founded
1982
Investments
4
Exits
0
Investment stage
Series B
Series C
Pre-Seed
Company profile
See full breakdown
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Alven
Founded
2000
Investments
198
Exits
33
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Andera Partners
Founded
1953
Investments
173
Exits
52
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Asterion Ventures
Founded
2021
Investments
12
Exits
0
Investment stage
Seed
Series A
Company profile
See full breakdown
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C4 Ventures
Founded
2012
Investments
51
Exits
9
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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Daphni
Founded
2015
Investments
60
Exits
4
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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Elaia
Founded
2002
Investments
148
Exits
30
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Emblem
Founded
2023
Investments
32
Exits
Investment stage
Pre-Seed
Company profile
See full breakdown
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Fly Ventures
Founded
2016
Investments
83
Exits
5
Investment stage
Pre-Seed
Seed
Company profile
See full breakdown
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Future Shape
Founded
2014
Investments
29
Exits
3
Investment stage
Series A
Series B
Company profile
See full breakdown
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HCVC
Founded
2015
Investments
56
Exits
4
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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InfraVia Capital Partners
Founded
2008
Investments
9
Exits
0
Investment stage
Series C
Series D
Company profile
See full breakdown
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Iris Capital
Founded
1986
Investments
133
Exits
32
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Kima Ventures
Founded
2010
Investments
643
Exits
89
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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Newfund
Founded
2008
Investments
157
Exits
29
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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Orange Ventures
Founded
2015
Investments
50
Exits
6
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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Partech
Founded
1982
Investments
485
Exits
89
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Quadrille Capital
Founded
2001
Investments
39
Exits
10
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Serena
Founded
2008
Investments
110
Exits
21
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Seventure Partners
Founded
1997
Investments
236
Exits
60
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Sofinnova Partners
Founded
1972
Investments
278
Exits
62
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Super Capital
Founded
2020
Investments
97
Exits
Investment stage
Pre-Seed
Seed
Series A
Company profile
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The Family
Founded
2013
Investments
73
Exits
9
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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TotalEnergies Ventures
Founded
2008
Investments
86
Exits
13
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Ventech
Founded
1998
Investments
198
Exits
45
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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What are the most active venture capital firms in France?

The most active venture capital firms in France include Idinvest Partners, Partech Ventures, Serena Capital, and Ventech. These organizations have been major players in the French startup ecosystem for many years, having invested millions of euros into promising companies across multiple industries. These firms are also well-connected to other investors around the world and provide invaluable advice and resources to their portfolio companies.

What are the current hottest sectors for venture capital right now in France?

The hottest sectors for venture investment in France are currently digital health, fintech, enterprise software and artificial intelligence (AI). These sectors have seen a massive influx of capital over the past several years, as investors recognize the potential of these technologies to revolutionize industries.

Digital health has been particularly attractive to investors due to its ability to improve patient outcomes while simultaneously reducing healthcare costs. Numerous startups in this space have raised large amounts of money from leading venture capital firms such as Idinvest Partners, Partech Ventures and Serena Capital.
Fintech companies have also received significant attention from investors recently due to their potential for disruption in the financial services industry. Companies such as Lydia Solutions, Curve and Leetchi Group have all raised large amounts of venture capital to fuel their expansion thorugh their different stages of funding.

Enterprise software and AI are both highly sought after by venture capitalists as well. Companies like Octo Technology and Deezer have been able to raise substantial rounds of financing from investors looking for the next big thing in technology.

What are the most active lead investors in France?

The most active lead investors in France include Idinvest Partners, Partech Ventures and Serena Capital. These three firms have invested in a wide range of startups across multiple sectors, including digital health, fintech and enterprise software.
Idinvest Partners has made numerous investments in French startups over the past year, such as medical app Doctolib, fintech Lydia Solutions and AI-based cybersecurity company Coralogix. They currently manage €5 billion of assets and are one of the largest venture capital firms operating in Europe today.

Partech Ventures is another leading investor based in France that recently raised its fourth fund totaling €800 million. Their investments this past year included e-scooter company Bolt Mobility, analytics firm Sqreen and online marketplace Back Market.

Serena Capital is a smaller venture capital fund that has invested in numerous French startups such as delivery service Stuart, job platform Lengow and IoT startup Ewattch. Their investments have helped to develop the tech ecosystem in France and have been instrumental in the success of numerous companies.
In conclusion, it’s clear that venture capital firms play an important role in fostering innovation and growth in France. With more international investors entering the market and an increasing number of deals being done each year, it looks like the future of VC investing in France is bright.