Elaia launches €120m digital fund

A first closing for Elaia Delta is scheduled to take place during Q1 2016, in parallel with the recruitment of Marc Rougier as a new partner for the firm.

Rougier is an entrepreneur focused on the digital economy. He has founded and managed companies such as Meiosys, Goojet and Scoop.it, the latter of which he is currently CEO.

According to Elaia, the new vehicle seeks to capitalise on the booming startup landscape in France. Elaia Delta is not the only fund in France looking to do so, with competition from Orange and Publicis Groupe's newly launched IrisNext, Innovacom's €50m digital fund, SNCF's €30m vehicle and the upcoming €40m closes for Breega's and HI Inov's funds.

Investors
Current fundraising for Elaia Delta features commitments from institutional LPs, corporates, family offices and business angels.

Investments
Over its lifespan, Elaia Delta will back 25-30 early-stage startups based in France and Europe. The fund targets companies from the digital sector, with a focus on those within the data segment.

Elaia recently backed online hospitality service Zenchef, which rebranded when it raised €6m from VCs Edenred Capital Partners, XAnge Private Equity, German corporate Metro Group and its existing investor base.

People
Elaia is headed by partners Philippe Gire, Xavier Lazarus and Samantha Jérusalmy; the first two co-founded the VC in 2003.

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