Newly Incepted Venture Capital Firm Yellow raises €30 million in pre-seed funding. It was started by Glovo’s founders, Oscar Pierre and Sacha Michaud, and Adam Lasri, a former investor at the multinational venture capital firm Atomico.
With a focus on France and Southern Europe, Yellow’s aspirations are felt throughout all of Europe. The fund accepts investing in both B2C and B2B businesses and is not restricted to any one industry.
It plans to invest between €200k and €500k in pre-seed stages of businesses. By not taking the lead, it rather wants to actively work with other European VC funds that are funding related projects.
Yellow seeks to assist entrepreneurs who are looking to break into France and important Southern European markets (primarily Spain, Portugal, and Italy), which have not received sufficient venture capital funding in the past.
Unlocking talent assistance, negotiating regulatory environments, and facilitating introductions to bigger organisations are some of the major hurdles associated with growing a business in this region.
In light of this, Yellow was supported by an abundance of well-known Southern European family business owners and founders of successful European tech businesses, including over a dozen unicorn founders.
Adam Lasri (ex-Atomico investor and co-founder of Yellow): “It is great to collaborate with both Oscar and Sacha. We have known each other for years and I have seen firsthand how supportive and engaged they have been with the more than 30 founders they have backed over the last few years. We now have joined forces to formalize that commitment through Yellow, and we are excited that the kick-off of the fund has been met with overwhelming interest by investors. With me based in France and Oscar and Sacha’s strong ties to not just Spain, but also across Italy and Portugal, we see Yellow well positioned to support founders from the region and those looking to expand there and help unlock the region’s full potential. Together, we bring practical advice for founders around scaling and expanding as well as professional investment expertise to help them navigate the wider European VC landscape.”
There are Yellow teammates in Barcelona and Paris. Professional investor Victor Navarro, who is located in Barcelona and has been covering Southern Europe for the Spanish fund KFund for the past few years, completes it. Another team member will shortly join from Paris.
Yellow represents a personal endeavour for Oscar Pierre and Sacha Michaud, as well as an extension of their four years of business angel investments. They remain totally dedicated to their executive positions at Glovo.