French VC firm Elaia has announced the intermediary closing of its PSL Innovation Fund at €65 million. The firm said that it attracted support from a range of investors including the EIF, Bpifrance, Vilmorin & Cie, and more. It also plans to reach the fund's maximum threshold of €75 million within the next few months.
The fund has been launched in partnership with the PSL University and is dedicated to investing in startups from its ecosystem. According to Elaia, it has already made four investments from the fund in the startups Gleamer, Sancare, SeqOne, and Cosmian, with two more deals coming up.
The firm has also announced a new venture partner, Sacha Loiseau, who will join its life sciences team. Loiseau is the founder and chairman of Mauna Kea Technologies, chairman of Therapixel, and a vice president of the MedTech in France association.