Funding

[Funding alert] Paris- based HCVC Raises $75 million of it’s Second Round Funding

Oct 3, 2023 | By Startup Rise EU

Venture capital firm HCVC, based in Paris, raises $75 million in its second round of funding.The European Development Fund, Isomer Capital, and Molten Ventures are among the fund's limited partners. Albert Wenger, John Elkann, chairman of Stellantis and Ferrari, and Toto Wolff, of Mercedes F1 AMG, are all supporting the venture capital firm.

Venture capital firm HCVC, based in Paris, raises $75 million in its second round of funding.The European Development Fund, Isomer Capital, and Molten Ventures are among the fund's limited partners. Albert Wenger, John Elkann, chairman of Stellantis and Ferrari, and Toto Wolff, of Mercedes F1 AMG, are all supporting the venture capital firm.

Read also - London-based Startup Unitary Secures $15 million Series A Round Funding

The organization claims that it would fund pre-seed and seed stage firms in Europe and North America that operate in a variety of industries, such as decarbonization, defense, and space. The firm plans to carry out about 10 transactions annually, with ticket amounts expected to vary from €250,000 to €2.5 million.

Read also - Amsterdam-based Orquesta Raises €800K in pre-seed Funding

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If the names HCVC and hardtech sound recognizable, it would be wise to keep in mind that the company initially achieved notoriety via the Hardware Club program, which helped companies to discover a market for tangible goods.

More than 50 businesses, namely Cowboy, Span, Automata, Radian, Augmenta (bought by CNH Industrial), and Caper (acquired by Instacart), received funding from the inaugural fund of HCVC.

Read also - Lausanne based Debiopharm Innovation Fund Launches $150 million Seed Funding Initiative.

The company has made prior investments with the second round of HCVC's investment capital in the nuclear fusion startup Renaissance Fusion, satellite operating system company Antaris, cellular agriculture production startup Ark Biotech, nuclear waste recycling business Transmutex, and cell therapy manufacturing firm Sarcura.

Read also - Annika Falkengren Joins Swedish Tech Company Ark Kapital’s Board of Directors

About HCVC

HCVC According to the HCVC, Alexis Houssou and Barbara Belvisi established the program, which has since had 600 companies from 50 different countries on its roster.

Read also - Bolognese Biotech startup Cellply Secures €3.6 million in Funding

A limited group of the the globe's top hardtech companies have come together in Hardware Club. Members benefit from one another's expertise, knowledge, and network by sharing them, eliminating costly mistakes, and advancing more quickly. When members are chosen, there are no fees or equity transactions necessary; membership in Hardware Club is free.

Read also - Berlin-based Proptech Startup Novo Raises €1 million Pre-seed Funding

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