Berlin, Munich and Paris-based VC firm XAnge has closed its fourth fund of €220 million. Dubbed XAnge 4, the new fund will invest in outstanding companies and teams in the seed and early stage while expanding across Europe.
The sectors that are on its radar include digital health, decentralised finance, Web3, developer tools, bio sourcing and bioproduction. The early-stage VC has assigned a ticket size of €300,000 to €10 million for the companies. According to the company, the first investments have already been made with the new fund. The most recent investments include $50 million in Series B co-funding in Berlin-based startup WorkMotion, and seed funding as a lead investor in Pina Earth.
Other current investments of XAnge 4 include Gitti (Germany), Silvr (France), Join (France), Dogami (France), Popsink (France), Dattak (France), Request (France), Workmotion (Germany), Roof (France), Greenly (France), Pina Earth (Germany), AerospaceLab (France), Treefrog (France), Core Biogenesis (France), Planetary (Suisse) and Qubit Pharmaceuticals (France).
The early-stage investors with €600 million in assets under management. In 2021 alone, XAnge invested €80 million in seed and Series A rounds. So far, the VC operates in France, Germany, Austria, Belgium, and Switzerland. XAnge counts six unicorns (Believe, Deposit Solutions, Ledger, Lydia, Odoo and Flink) in its portfolio and has supported two IPOs (Believe, Mister Spex).
Talking about the newly unveiled fund, Cyril Bertrand, managing partner said: “We have renegotiated our hard cap upwards to close at €220 million in a special context, which is a testimony of the confidence of our investors in XAnge’s ability to invest in future unicorns as early as the seed stage.”
The early-stage investor is also rolling out a dedicated Web3 fund. The Digital Ownership Fund will target a raise of €80 million.
Luc Jodet, former Arianee co-founder and partner at XAnge added: “Web3 is a new paradigm for building and managing technology platforms. While the paradigm has attracted a community of early adopters, it is now time to cross the chasm and bring web3 to the next billion users. The Digital Ownership Fund is looking for inspiring projects that build solutions not only for the web3 community but also for the rest of the world.”
From now on, the company wants to increase its focus on German startups now that it has opened a new office in Berlin after its base in Munich. The goal is to make 30% of its investments in Germany by 2025.
Nicolas Rose, managing partner added: “We will capitalise on our experience in early stage investments and our presence built up over 15 years in Germany, first in Munich and now in Berlin, to take ambitious positions throughout Europe, where innovation is accelerating very strongly.”
XAnge also plans to operate the entire startup financing chain by launching a pre-seed fund in the near future. The company currently operates in France, Germany, Austria, Belgium and Switzerland.