Breega, a Parisian VC firm founded by former entrepreneurs, has closed its third fund totalling €110 million. This latest round brings the total amount of funds under management to €260 million.
BCV3 (Breega Capital Venture 3), a successor of the firm's multi-sector fund, first launched in 2015. Its raison d'être is to support and accelerate tech startups with a strong team, innovative tech, and, naturally, a solid value proposition.
Of the €110 million fresh in the cookie jar, 12 startups have already poured the milk, including deeptech focused startups reciTAL and Ponicode . Amounts range from €1 million to €4 million in seed or series A rounds.
"Driven by the global pandemic, artificial intelligence tools and platforms are advancing at a high speed in various tech sectors. AI is now present in a large part of the new technologies that are now shaping the way we live, interact, consume and work. Our latest investments reflect this trend,” comments co-founding partner Maximilien Bacot.
In addition to former successful entrepreneurs who make up the majority of Breega's investors, Bpifrance, the EIF, “entities” from banking and insurance networks, and Isomer Capital are also invested in Breega.
"Breega is a fund that closely supports its entrepreneurs. Breega was by our side from inception to the exit of FoodChéri, the foodtech I co-founded in 2015, sold in 2018 to Sodexo. My investment in Breega's new fund is a concrete way to help and advance the next generation of entrepreneurs,” says Food Chéri co-founder and Breega investor Patrick Asdaghi.