French VC firm Breega launches €150M fund targeting UK startups: Know more

Paris-based Breega, a venture capital firm built by founders to propel startups to global success, announced through a LinkedIn post the launch of a new Europe Seed III fund at €150M to back early-stage innovators and tech entrepreneurs to fuel Europe’s most promising startups.

“Given tight market conditions and a global 50 per cent drop in VC funds funding, we couldn’t be more proud of this achievement and confident in our unique full-stack funding model,” says Breega.

According to Sifted, Breega has closed just over €75M as of now and will invest in UK-based startups.

This initiative marks Breega’s third early-stage investment fund since its inception in 2015, complementing its €250M later-stage fund for Series A and B investments.

Investment in the UK

Breega, which already has a London office, plans to expand its UK team to eight members by 2024. The firm, with 13 out of its 100 portfolio companies based in the UK, is also considering expansion into another European country. 

Sifted reports that the fund will support startups in software, fintech, deeptech, future of work, and climate tech, with investments ranging from €500K to €3M. 

Breega strengthens its European presence, particularly in the UK by appointing Daniel Shellard, a seasoned entrepreneur and former Breega-backed founder, as Partner to spearhead initiatives in the British market.

Article 8+ SFDR

Article 8 of the Sustainable Finance Disclosure Regulation (SFDR) applies to funds that promote environmental or social characteristics along with good governance practices, according to Worldfavor. 

These funds must disclose how these characteristics are met and provide information on designated benchmark indices. 

Unlike Article 9 funds, Article 8 funds do not have specific ESG or core objectives but go beyond basic sustainability risk considerations mandated by Article 6.

Brief about Breega

Breega is a venture capital firm and has amassed €500M in assets under management (AUM) since its founding in 2015. 

With a focus on purpose-driven founders, Breega supports startups from ideation to impact, providing not only capital but also essential connections, expertise, and support. 

The firm claims that its approach, termed “full stack funding”, addresses entrepreneurs’ needs at every stage, and they invest in startups across Europe and internationally, primarily at the pre-seed to Series B stages of development.