French VC Elaia reaches €120 million first close for new multi-stage B2B technology fund
French venture capital firm Elaia has achieved a significant milestone with the first close of its fifth Digital Venture Fund (DV5) at €120 million, with a target to reach €300 million. This fund is dedicated to backing European B2B technology startups from their pre-Seed to Series B stages, offering investment ticket sizes between €1 million and €15 million. This initiative underscores a growing confidence in the European tech ecosystem and its potential for global scalability. The DV5 fund has already begun deploying capital with initial investments in Mimic Robotics and Linkup, signalling its active engagement in identifying promising B2B technology ventures. The fund's investor base includes a mix of returning and new limited partners such as Bpifrance, MACSF, and BNP Paribas, demonstrating sustained institutional support for Elaia's investment strategy. This first close follows DV4's successful €200 million closure in 2023, highlighting a consistent upward trajectory for the firm. This development occurs within a broader context of robust venture capital fundraising across Europe, with multiple firms announcing substantial new funds focused on B2B technology, AI, and DeepTech. For instance, Vanagon Ventures secured €20 million for deeptech and AI startups, and Notion Capital raised €114 million for AI-driven software and FinTech. Elaia's DV5, with its substantial first close, stands out as a significant player, reinforcing the continent's drive to nurture and scale high-growth B2B technology companies.
Curated and translated by Europe Digital for our multilingual European audience.
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