Paris VC firm Iris Capital has announced the close of its new €250 million IrisNext fund for investing in European companies from seed to growth stages.

Investors in IrisNext include Orange, Publicis, Valeo, and state-backed investment bank Bpifrance. The fund will invest between €1 million and €30 million in startups, mostly in France and Germany, in fields like IoT, cybersecurity, 5G, and AI. The fund will also make some investments in the US.

The fund is led by managing partners Pierre de Fouquet, Antoine Garrigues, Erkan Kilicaslan, and Erik de la Rivière.

The firm’s corporate network will help startups expand across Europe, according to Garrigues.

“In the last five years, together with Orange and Publicis Groupe, we’ve successfully co-created what we call the multi-corporate VC model,” commented de Fouquet. “We would like to thank Orange and Publicis Groupe for their renewed trust and we are looking forward to expanding the success of this model with our new corporate partners.”

Previous investments from Iris Capital include Mailjet, Scality, and Shift Technology.

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