Iris Holds First Closing of €150M Fund

Iris, a Paris, France and Berlin, and Munich, Germany-based enterprise and progress agency, introduced the primary closing of its new €150m enterprise fund devoted to Seed and Series A investments in France, Germany and throughout Europe.

The second closing is anticipated late 2023.

IRIS Venture IV is backed by IRIS’ historic buyers together with Orange, Publicis and Bpifrance alongside newcomers amongst which a number of European household workplaces, tech entrepreneurs and portfolio founders together with Fred Potter, founder of Netatmo, Yannis Yahiaoui, cofounder of Adot, Amirhossein Malekzadeh, cofounder of Logmatic, Grégoire Delpit, cofounder of ProcessOut, Patrick Asdaghi, founder of FoodCheri or Adrien Nussenbaum, cofounder of Mirakl.

The enterprise staff invests tickets in Seed and Series A, from €1m to €8m, in tech firms throughout Europe with a give attention to France and Germany the place the funding staff relies.

The new fund is already lively with lead investments in Spinergie in France, Helu in Austria and a couple of extra to be introduced early subsequent yr.

IRIS has additionally introduced the appointment of Denis Duverne, former Chairman of the Board of AXA and Chairman of IRIS Supervisory board, a place beforehand held by Maurice Levy, Chairman of the Supervisory board of Publicis, in addition to as Senior Advisor. His work with IRIS will contain supporting IRIS in its fundraising technique, particularly for its upcoming Growth fund. As Senior Advisor, Duverne will work carefully with the administration staff to additional improve the dimensions and ambitions of the upcoming IRIS funds devoted to European tech scaleups. He graduated from HEC Paris and ENA and started his profession on the French Ministry of Finance earlier than becoming a member of the Consulate General of France in New York, the French Treasury and later turned a member of the chief board of Banque Colbert, in cost of operations.

Led by Erik de la Rivière, Julien-David Nitlech and Curt Gunsenheimer, Managing Partners, IRIS has traditionally invested in over 350 firms globally with a singular Franco-German anchorage that began within the early 1990’s. IRIS investments embody SaaS leaders reminiscent of Shift Technology (insurtech), Talend (software program), Kyriba (fintech), Lumapps (HR), Jedox (software program), business 4.0 and logistics consultants such Exotec (logistics), Braincube (manufacturing software program), Forto (freight administration), Spinergie (offshore), platforms reminiscent of Virtuo (mobility), Yubo (social) and knowledge specialists like Talon.one (advertising), Red Points (model safety) or Scality (cloud).

The staff realised greater than 300 exits together with the sale of Careem to Uber, the NASDAQ IPO of Talend, the LBO of Kyriba with Bridgepoint, the acquisition of Netatmo by Legrand or extra lately the acquisition of Monk by ACV and lots of extra.

The staff presently backs 6 lively unicorns in Europe and the USA.

FinSMEs

07/12/2022

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