Axeleo Capital Raises $51 Million Fund, Expands Acceleration Program
Axeleo Capital has announced the successful closure of its first fund, raising a total of $51 million (€45 million). This significant milestone marks a major expansion for Axeleo, which began as an accelerator focused on enterprise startups. The firm has since grown to offer both an acceleration program and a full-fledged VC fund.
The Evolution of Axeleo
Axeleo’s journey started with an accelerator that helped pick up around 10 startups per year, guiding them towards reaching the Series A stage. If these startups performed well over the 12-18 months of the program, Axeleo would then invest in them using its VC fund. This synergy between the acceleration program and the VC fund is crucial to Axeleo’s success.
The Acceleration Program: Axeleo Scale
Axeleo’s acceleration program has now been rebranded as Axeleo Scale. This revamped program continues to focus on early-stage investments, providing support and guidance to startups in their critical growth phase. The team at Axeleo Scale works closely with entrepreneurs, offering expertise and resources to help them overcome the challenges of scaling.
The VC Fund: Axeleo Capital
Axeleo Capital is the firm’s VC fund, which invests in promising startups that have demonstrated significant potential. With a focus on early-stage rounds, Axeleo Capital provides critical funding for B2B companies operating in sectors such as artificial intelligence, cybersecurity, and SaaS.
Limited Partners and Strategic Partnerships
The first fund has received support from prominent limited partners, including Bpifrance through the French Tech Accélération program, the Auvergne-Rhône-Alpes region, Vinci Energies, Crédit Agricole, BNP Paribas, Caisse d’Épargne Rhône-Alpes, and various business angels and family offices.
Axeleo has also partnered with Hi Inov, the holding company of the Dentressangle family. As part of this partnership, Axeleo will handle the early-stage investments for Hi Inov, totaling $11.3 million (€10 million).
Geographic Focus: Europe and France
Axeleo’s focus on European startups is a deliberate choice, driven by the firm’s commitment to supporting local innovation. With its headquarters in France, Axeleo has established itself as a key player in the European startup ecosystem.
Investment Strategy
Axeleo Capital invests in early-stage rounds ranging from $565,000 (€500,000) to $4.5 million (€4 million). The firm prioritizes B2B startups operating in sectors that are strategically aligned with its investment thesis.
Portfolio Companies
To date, Axeleo has invested in an impressive portfolio of companies, including Alsid, Vectaury, 365Talents, Jenji, Ermeo, and several others. These investments demonstrate the firm’s ability to identify and support high-growth startups.
Team Expertise
The team at Axeleo brings extensive experience and expertise to the table. With a deep understanding of the startup ecosystem, they are well-equipped to guide entrepreneurs through the challenges of scaling their businesses.
Axeleo’s Impact on the European Startup Ecosystem
As a prominent player in the European startup ecosystem, Axeleo is committed to fostering innovation and supporting local entrepreneurship. By providing critical funding and guidance to early-stage startups, Axeleo plays a vital role in driving growth and success for European companies.
Romain Dillet: Senior Reporter at TechCrunch
Romain Dillet, Senior Reporter at TechCrunch, has provided extensive coverage of Axeleo’s journey. With over 12 years of experience at TechCrunch, Romain has established himself as a knowledgeable voice on the European tech scene.
As one of the most influential tech journalists in Europe, Romain brings a deep understanding of startups, privacy, security, fintech, blockchain, mobile, social media, and more to his reporting. With a strong background in startups and an ability to spot emerging trends, Romain has written numerous scoops on major acquisitions from Apple, Microsoft, and Snap.
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