French venture capital firm Daphni has announced the first close of its third fund, Daphni Blue, securing €200 million (~$215M USD) with a target of €250 million by year’s end.
The fund will focus on investing in science-driven startups across Europe, with plans to back up to 40 companies.
Focus on Science-Backed Innovation
While many VC firms are heavily focused on AI, Daphni is betting on deep science as the next major driver of breakthrough innovation. The firm is particularly interested in areas such as:
- Life sciences
- Physics and chemistry
- Mathematics and quantum computing
Founding partner Pierre-Eric Leibovici noted,
“Large language models and quantum computing both stem from fundamental science. Our fund reflects that reality — science is the foundation of the next wave of disruption.”
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Strategic LPs and Academic Integration
Daphni Blue is backed by a strong lineup of limited partners, including:
- Crédit Mutuel Arkéa
- Bpifrance
- European Investment Fund
- PRO BTP
- Swen Capital Partners
To align with its science-first strategy, Daphni has recruited team members with academic backgrounds, including PhD holders and students.
Leibovici added,
“Today’s researchers are more willing to commercialize their work. We want to support that transition from lab to market.”
Proven Track Record
Since its founding in 2015, the french firm has invested in 70 startups, including success stories like:
- Back Market
- Swile
- Hubcycle
- Pasqal
With $215 million already secured and more to come, the VC firm is positioning itself as a leading force in science-based venture investing in Europe, aiming to not just fund startups — but deliver real returns through innovation.
