Serena Capital holds first close on €80m for Data Ventures

The fund is targeting €100m in commitments, to be reached by summer 2017, according to the GP.

Data Ventures is the first ever European venture capital fund focusing exclusively on data companies, Serena Capital claims. Similar funds already exist in the US. 

Software company Talend's group founder, Bertrand Diard, and Easyvista co-founders Jamal Labed and Sylvain Gautier will be in charge of selecting the startups to be supported by the fund. 

Amélie Faure, a specliased software entrepreneur, has also joined the firm as operating partner. Serena Capital currently has more than €300m in assets under management.

Investors
The fund has so far received support from a number of family offices and institutional investors. LPs include BPI France, which committed €20m; insurance group MACSF, which contributed €13m; German insurer Allianz; BNP Paribas; and insurance group Maif.

Investments
The fund will target data-focused companies, such as those involved in big data, artificial intelligence, machine learning and the Internet of Things, operating in sectors including banking, insurance, health, energy, manufacturing, trade or logistics.

Financing will mostly go to French startups, with tickets ranging between €500,000-5m, mostly through first financing rounds. A first investment of €750,000 has already been made for Heuritech, a French group specialised in learning technologies. 

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