Supernova Capital aiming to raise EUR 250m by end of 2022

Myriam Mariotte
30 November 2021

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Supernova Invest, a Paris-based VC firm, is planning to raise EUR 250m for its Ambition Industrie "deep-tech" fund by Q4 2022, according to chair and managing partner Pierre-Emmanuel Struyven.

Ambition Industrie has already secured EUR 145m against its EUR 250m target, with investors including Crédit Agricole, the French Atomic Energy and Alternative Energies Commission (CEA), institutional investors, and family offices, according to Struyven.

Targets for the Ambition Industrie fund will be businesses operating in the healthcare, energy transition, digital and industrial sectors, Struyven said. With a focus on late-stage startups, the investment vehicle will primarily target those with revenues of around EUR 5m and not necessarily turning a profit. Around 75% of investments will take place in France and the other 25% in Europe, mainly in Germany, the UK, Switzerland, Belgium and the Nordic region.

With an average ticket of EUR 8m-30m, the fund can take part in funding rounds of between EUR 20m and EUR 200m, Struyven noted.

The sponsor plans to secure at least one deal by the end of this year, having already made two investments with Ambition Industrie. The fund has invested EUR 8m in Ynsect, a France-based natural insect protein production company that could launch a Series D round in 2022. It also made a EUR 10m investment in Aledia, a French developer and manufacturer of 3D LEDs for display applications.

The firm currently has two other active funds, both launched in 2017. Seed fund Supernova 2 collected EUR 75m and still has three or four investments to carry out, Struyven said. The fund targets tech companies disrupting the industrial, healthcare, energy, environment and communications sectors.

The sponsor is also still deploying the Crédit Agricole Innovations et Territoires fund, which received a EUR 50m initial investment in 2017 from French banking group Groupe Crédit Agricole. The fund targets startups dedicated to agriculture, the agrifood industry, housing, healthcare, tourism, energy, environment and marine industries.

Supernova Invest is considering launching a new fund, Supernova 3, by Q1 2023, Struyven said. The fund's target size has not been determined.