News Summary

French venture capital firm Daphni has announced the first closing of its third fund, Daphni Blue, raising €200 million ($215 million) with plans to raise up to €250 million ($270 million) by the end of the year. The fund aims to invest in 40 European startups, building on Daphni’s history of investing in 70 startups since 2015, including Back Market and Swile. The firm emphasizes investments in science-driven technologies and is recruiting PhD holders to its team, reflecting a broader trend of researchers commercializing their work. Daphni’s partners include Crédit Mutuel Arkéa, Bpifrance, and the European Investment Fund.