Otium Brands renames as Eutopia

Eutopia is based in Paris and New York, and led by founding partner Antoine Fine.

Otium's brands division will spin out once the fundraising for Eutopia 1 is completed. The vehicle, with a target of €60-80m, should hold a first close on Q2 2019, Unquote understands. 

Commitments of €20m will be provided by Pierre-Edouard Stérin, founder and owner of Otium.   

The VC backs mostly French and European startups, but also US-based businesses, via seed and series-A rounds of between €500,000-10m. The firm will invest in consumer-related businesses that have a clear brand potential, mastered production and supply operation, and a proven scalable business model.

Portfolio companies previously managed by the Otium Brands team, such as Feed, backed in August, are now managed by Eutopia.

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