C4 Ventures, the Paris -based mostly VC, has lifted a new €80 million ($88 million) “Fund II”. The fund was founded by Pascal Cagni, a former Europe boss of Apple, and incorporates cofounder Raph Crouan, one more Apple alumni formerly with Startupbootcamp and is at this time President of La FrenchTech. C4 is developed to be a “post-Collection A” fund and usually invests all over €3-4 million euros.
The new fund is described as a “boutique” VC which will emphasis on tech which will prosper in “post-Covid” planet. Recruited by the late Steve Work opportunities, Cagni commenced the fund within months of leaving Apple, but the business did not grow to be sizeable right until 2014. Exterior of company, Cagni is an “ally” to President Emmanuel Macron and has worked on various initiatives to boost France’s technologies and entrepreneurship sectors.
Cagni, who was head of Apple in Europe from 2000 to 2012, reported: “Having witnessed initially-hand technology’s exclusive power to push real-time behavioral alter, we think that, even though Covid-19 is likely to bring about an economic slowdown, it is also likely to be a breeding floor for innovation and adjust as a result of disruptive tech,” reported Pascal Cagni. “We felt confident that we need to, as prepared, elevate and deploy cash in the course of this period of time.”
Fund II has a great head start off, owning invested in 7 corporations which will be in a position to adapt to a Article-Covid entire world including:
• Zoov, a French electric bike-sharing system
• DriveNets, a software business adapting the cloud model to networking, letting purchaser services suppliers to scale up for lessen fees.
• Trouva, a European on the internet homeware market assisting independent nearby outlets scale their gives on line.
C4 has previously invested in incorporate Nest, the smart thermostat enterprise obtained by Google for $3.2 billion, and Graphcore, an AI chip get started-up now valued at over $2 billion. But it also place income into Anki, a shopper robotics firm that went bust very last 12 months after raising around $200 million.