1- How early are we willing to go? As early as necessary to work with the best entrepreneurs. Tickets range from €300,000 to €10,000,000. (list of the firsts fund’s investments below).
2 – A committed and enthusiastic team, still growing: Astrid and Fadwa are kicking ass in Berlin, Antoine pampering our LPs in Paris, Camille bringing her great energy to the impact MI team in Paris.
3- An exceptional financial performance that we have been reporting since last summer (see our blog post on the subject) and that we are updating today : As of March 31, 2022, our second fund (XAnge Capital 2) generated a multiple of 4.81x, and 1.87x for our fund 3 (XAnge Digital 3).
A few weeks ago, all of the above led Sifted to put us in the top 3 French VCs (link) according to Dealroom.
So here we are, with solid cash reserves and solid performance. Two great pre-requistes to make a few steps towards our long term target, become a European early stage VC leader.
None of this would have been possible without the support of our long-term investors. XAnge 4 gathers 55% of institutional LPs (BPIfrance…) 20% of corporates and 25% of former entrepreneurs and Family Offices. Our Sponsor, Siparex Associés also injected a large amount of money.
With a proven track record in this field (Ledger, Coinhouse, Dogami, Request Finance), we want to go further. The “Digital Ownership Fund” will be an €80 million fund, investing both in equity and tokens, led by Arianee co-founder Luc Jodet who is joining XAnge as a Partner. It will be dedicated to funding the products and services enabled by true digital ownership, the core innovation of blockchain-based web3 technology. The XAnge Digital Ownership Fund strives to be the first fund capable of investing both in equity and tokens with a full European infrastructure and regulated by the French regulator AMF.
Long term we shoot for reaching half of our business, half of our investing team in Germany. Today we stand at 25% Germany vs 75% France. We’ll go step by step but we see the German market as phenomenally attractive, at least the same size as the French market and opening doors to central/eastern Europe. In 2021 we have strengthened our German presence with the opening of an office in Berlin (after Munich), and added two great female talents to our team in order to reach one third of our investments there within 2 years.
So there you go. We are very excited about what lies ahead. The macro period is complex, full of uncertainties, but when we see the projects that are knocking at the door every day in our dealflow, when we see the enthusiasm of our teams, we know that we are on the right path.
Stay tuned !
Here are the first investissements of XAnge 4 : Workmotion (Germany), Treefrog (France), Greenly (France), Silvr (France), Popsink (France), Dattak (France), Request (France), Roof (France), Pina Earth (Germany), AerospaceLab (France), Core Biogenesis (France), Planetary (Suisse), Qubit Pharmaceuticals (France), Gitti (Germany), Join (France), Dogami (France).