Axeleo Capital, a venture arm of the French enterprise-focussed startup accelerator Axeleo, has closed its €45 million fund. Officially launched back in July 2017, the fund has made 20 investments in 20 months. From the freshly closed fund, Axeleo Capital aims to invest in seed and Series A rounds with tickets ranging from €500,000 to €4 million.
The fund is a continuation of Axeleo's acceleration programme, which focuses on data enhancement, artificial intelligence, IoT, and cybersecurity applied in the B2B space.
The list of LPs of the €45 million fund includes the French Tech Accélération fund operated by Bpifrance, the Auvergne-Rhône-Alpes Region, VINCI Energies, the Crédit Agricole Group, BNP Paribas and the Caisse d'Epargne Rhône-Alpes. Family offices and entrepreneurs experienced in technology represent 30 percent of the fund, Axeleo Capital stated in a press release. The firm has also partnered with Hi Inov, which delegated to Axeleo the management of its €10 million seed fund.
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