VC Firm Daphni that is based in Paris is announcing its inaugural fund for seed and Series A investments. The team will be managing $165 million fund and will try do some new things when it comes to venture capital in Europe.
As for startups, there is one big pro and one big con. The big pro is that you can get more money more quickly, ending up raising more easily. The big con is that you have to be careful when it comes to sharing data with Daphni's LPs.
Daphni has co-founded by Marie Ekelend, Willy Braun, Mathieu Daix, Pierre-Yves Meerschman and Peirre Eric Leibovici. The typical Daphni investment will sit anywhere between €300,000 and €3 million. LP's include super business angels and big companies, such as Bpifrance. Credit Mutuel Arkea, Societe Generale, Fnac-Darty, Nokia, SWEN Capital Partners, ProBTP, MAIF, and more. Also, the team wants to host technical events and also wants to develop a content strategy.
A bunch of limited partners have given a big pile of money so that a team of tech-savvy people can invest everything in startups. But Daphni wants to work a bit differently with both startups and LPs.
For each investment, Daphni's LPs will have the opportunity to co-invest with Daphni keeping the lead when it comes to board seats, carried interest, etc. But the trick is that a Daphni LP like Societe Generale doesn't have to pay any management fee for its own investments.
Obviously, the portfolio and the track record will be more important than anything else, but we'll have to wait on this front. Named after one of Caribou's stage names, Daphni wants to try new things with a new LP-VC relationship with some strict rules, a platform for entrepreneurs, VCs and LPs and a colorful branding. In others words, let us welcome Daphni.
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