C4 Ventures Launches $88 Million Fund for Post-Series A Startups in a Post-Pandemic Era
Introduction
In a significant development, C4 Ventures, the Paris-based venture capital firm, has raised a new €80 million ($88 million) fund. The ‘Fund II’ will focus on tech that thrives in a "post-COVID" world, investing in startups that can adapt to the changing landscape. We take a closer look at this new fund and its founders.
Founders
C4 Ventures was founded by Pascal Cagni, a former Europe boss of Apple, along with co-founder Raph Crouan, an Apple alumnus previously with Startupbootcamp and currently president of La FrenchTech. This boutique VC firm is designed to be a "post-Series A" fund, normally investing around €3-4 million.
The Post-COVID World
Cagni, who was head of Apple in Europe from 2000 to 2012, said: "Having witnessed first-hand technology’s unique power to drive real-time behavioral change, we believe that, although COVID-19 is going to bring about an economic slowdown, it is also going to be a breeding ground for innovation and change through disruptive tech." He added, "We felt confident that we should, as planned, raise and deploy capital during this period."
Investments
The new fund has already made significant investments in seven companies, including:
- Zoov: A French electric bike-sharing platform.
- DriveNets: A software company adapting the cloud model to networking, allowing consumer service providers to scale up for lower costs.
- Trouva: A European online homeware marketplace helping independent local shops scale their offers online.
Previous Investments
C4 Ventures has previously invested in notable startups like:
- Nest: The smart thermostat company acquired by Google for $3.2 billion.
- Graphcore: An AI chip startup now valued at over $2 billion.
- Anki: A consumer robotics company that went bust last year after raising around $200 million.
Conclusion
C4 Ventures’ new €80 million fund is well-positioned to take advantage of the opportunities emerging in a post-COVID world. With its focus on tech that thrives in this new landscape, C4 is poised for success. We look forward to seeing which startups they will support next.