Alven, a Paris-based early-stage backer, announced on Wednesday that it has closed a €350M fund to back European entrepreneurs at Seed and Series A stages.
The French VC’s sixth fund, Alven VI, has exceeded its initial target of €300M, making it the largest early-stage fund raised in France. Currently, the company has €2B in Assets Under Management (AUM).
Besides the existing investors, Alven VI fund also attracted several new investors from European, North American, and other global institutions. With the latest fund, the company will invest between €100k to €15M and has a substantial reserve for follow-on investments.
Guillaume Aubin and Charles Letourneur, co-founders of Alven, say, “We pride ourselves in building long-term relationships with entrepreneurs, and this also applies to investors in Alven. Not only our existing LPs have continually invested in us, but we’ve also welcomed a number of new investors that want to be part of the French Tech success story.”