Paris-based venture capital firm HCVC is set to make waves in the startup ecosystem with the launch of its new $75 million deep tech fund, aptly named “Fund II.” The firm aims to provide pre-seed and seed funding to promising companies in Europe and North America, solidifying its position as a key player in the investment landscape.
Key Takeaway
HCVC, a Paris-based VC firm, has raised $75 million for its new deep tech fund, “Fund II.” With a focus on supporting pre-seed and seed stage startups in Europe and North America, HCVC aims to foster advancements in clean energy, computing, robotics, defense tools, and biomanufacturing. The firm’s strong community ties, diverse portfolio, and exclusive investor backing position it as a significant player in the venture capital landscape.
Evolution from Hardware to Deep Tech
Initially focused on hardware startups, HCVC has evolved to encompass a broader range of deep tech ventures. This includes companies in sectors such as climate, biotech, robotics, and space exploration. Notable portfolio companies of HCVC include Cowboy, a leading electric bike manufacturer, as well as Renaissance Fusion, a pioneering nuclear fusion tech company.
Community-driven Approach
HCVC draws its name from the Hardware Club, a thriving community of hardware and deep tech companies that collaborate, share knowledge, and support one another. With over 600 companies in its network, the Hardware Club serves as a valuable resource and networking platform for entrepreneurs in the sector.
While HCVC is not a direct investor in every company within the Hardware Club, it has demonstrated its commitment to supporting startups through its original $50 million fund, which has backed 50 companies since 2018.
Enabling Future Innovations
Alexis Houssou, founder and managing partner at HCVC, expressed the firm’s dedication to backing visionary founders who are paving the way for a better future. This includes supporting ventures working on clean energy solutions, advanced computing technologies, context-aware robots, defense tools for democracies, and biomanufacturing for sustainable food production.
Partners and Investors
HCVC boasts a stellar team of partners, including Alexis Houssou, Jerry Yang, Aymerik Renard, and recent addition Alex Flamant. The fund has secured funding from noteworthy investors, such as the European Investment Fund, Isomer Capital, and Molten Ventures. Individual investors, including Albert Wenger, John Elkann, and Toto Wolff, have also contributed to the fund.
Notably, HCVC takes pride in its exclusive backing from European, American, and Japanese investors, distinguishing itself from many U.S.-based VC firms that often involve Saudi Arabian investors.
