The fund will invest in companies linked to École Polytechnique, including spinouts, alumni-founded startups or businesses incubated by the school.
Polytechnique Ventures, a France-based investment fund, was launched on Tuesday with €20m ($24m) in initial capital to invest in companies aligned with École Polytechnique.
The fund was created at the behest of the institution’s alumni but also plays into École Polytechnique’s goal of having a vehicle backed by its incubator. It is targeting a €30m to €40m close.
Polytechnique Ventures will invest in companies emerging out of École Polytechnique’s laboratories, incubated by its X-Up or X-Tech programmes or co-founded by one or more alumni. It will particularly seek out companies pursuing social impact.
The vehicle will focus on early-stage deep tech opportunities, co-investing at the pre-seed and seed stages where it will look to commit around €250,000 to €500,000 per deal. It will have the capacity to provide follow-on funding, supplying up to an average of €2.5m at series A stage.
The first two investments are…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
