Elaia Partners launches seed fund

The GP is looking to ultimately raise €50-60m, according to French publication Capital Finance. Elaia currently manages more than €80m through Elaia Ventures, its own FCPR fund closed on €45m in 2004, as well as vehicles delegated by 123Venture, Neotec and Crédit Agricole Private Equity .

Investors
Elaia has reportedly secured commitments from the state-backed Fonds National d'Amorçage, as well as FEI and Pactinvest.

Investments
The fund will look to invest up to €1m per transaction, with the possibility of providing up to €4m in follow-up rounds. It will focus on the technology sector.

The vehicle's predecessor, Elaia Ventures, had already made a third of its investments in seed-stage businesses.

People
The fund will be managed by Elaia's five-strong team, headed by partner Philippe Gire.

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