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Daphni is a venture capital firm founded in 2015 and based in Paris, France. The firm has established itself as a key player in the European startup ecosystem, focusing on user-oriented technologies that promote sustainability and social impact. Daphni operates with a VC-as-a-platform model, leveraging a community of over 300 entrepreneurs, executives, academics, and advisors to support its portfolio companies. The firm manages assets exceeding €500 million and has made 108 investments to date, including three unicorns and one IPO.
Since its inception, Daphni has evolved to include three active funds, each targeting different sectors and stages of investment. The firm has achieved notable milestones, including 22 acquisitions and a strong emphasis on supporting underrepresented entrepreneurs through dedicated funds. Daphni's commitment to environmental, social, and governance (ESG) principles is further underscored by its B Corp certification, reflecting its dedication to positive social impact.
Daphni invests primarily in early-stage startups, specifically in Seed and Series A rounds, with a check size ranging from $225,000 to $11 million. The firm has a global investment strategy, with a strong emphasis on European startups that possess international expansion plans. Daphni's investment sectors are diverse, including SaaS, fintech, healthcare, consumer goods, commerce, climate technology, proptech, food-agtech, and artificial intelligence. The firm is sector and model agnostic but has developed deep expertise in enterprise applications, consumer technology, fintech, healthtech, e-commerce, and sustainability.
In addition to its general investment strategy, Daphni has launched the Daphni Blue fund, which focuses specifically on deep tech and sustainability, with a target of €260 million. This fund aims to support innovations that address pressing environmental challenges. Daphni's investment thesis emphasizes the importance of user-oriented technologies, where the technology itself should be invisible to users, and the driving force behind usage is rooted in human emotions and experiences.
Daphni's portfolio consists of 108 companies, including notable exits such as BlaBlaCar, Swile, Back Market, Epic, and Fretlink. The firm has invested in three unicorns: Swile, Back Market, and BlaBlaCar, showcasing its ability to identify high-potential startups. Recent additions to the portfolio include Kleo, Zoe, Typology, Pasqal, and Hubcycle, reflecting Daphni's ongoing commitment to supporting innovative companies.
The portfolio is diverse, with 37 companies focused on enterprise applications and 33 in the consumer sector. Daphni's investments span various industries, including sustainable food solutions with Hubcycle, AI-driven storytelling for children with Animaj, and profit management for e-commerce with Dema. The firm continues to expand its reach and impact through strategic investments in companies that align with its values and mission.
Pierre-Eric Leibovici - Co-founder & Managing Partner. Pierre-Eric has extensive experience in venture capital and entrepreneurship, having previously worked at leading firms in the industry. He focuses on identifying high-potential startups and guiding them through their growth phases.
Pierre-Yves Meerschman - Co-founder & Managing Partner. Pierre-Yves brings a wealth of knowledge in technology investments and has a strong track record of supporting startups in scaling their operations. His expertise spans various sectors, including fintech and healthtech.
Anita de Voisins - Partner. Anita specializes in consumer technology and has a keen eye for innovative startups that address market needs. She has a background in product development and marketing, which she leverages to support portfolio companies.
Samir Matki - Partner. Samir has a strong background in finance and investment strategy, focusing on helping startups optimize their financial performance. He plays a crucial role in guiding companies through fundraising processes.
Claire Tanguy - Partner & Chief Legal Officer. Claire oversees legal matters and compliance for Daphni, ensuring that the firm adheres to regulatory standards while supporting its portfolio companies.
Etienne Renoux - Chief Financial Officer. Etienne manages Daphni's financial operations and reporting, contributing to the firm's strategic planning and investment decisions.
Jocelyn Fournier - VP of Engineering. Jocelyn provides technical expertise and guidance to portfolio companies, helping them navigate product development and technology implementation.
To pitch Daphni, founders should visit daphni's application page to submit their proposals. The firm prefers detailed decks that include information on the startup's mission, market analysis, competitive landscape, and financial projections. Daphni values transparency and clarity in presentations, which helps facilitate a smoother evaluation process.
Response times can vary, but founders can generally expect feedback within a few weeks. Daphni encourages warm introductions through their network, which can enhance the chances of a successful pitch.
Daphni runs several initiatives to support entrepreneurs, including the Time4 fund, which has a budget of €50 million aimed at underfunded entrepreneurs. This program is designed to provide resources and funding to startups led by individuals from diverse backgrounds.
Additionally, Daphni has established the Rainbow fund, an endowment launched in 2024 to support organizations focused on social inclusion and sustainability. This initiative reflects Daphni's commitment to fostering positive social impact through its investments.
On January 31, 2026, Daphni made its latest investment, continuing its trend of active portfolio expansion. In the past 12 months, the firm has completed nine investments, showcasing its commitment to identifying and supporting innovative startups.
Daphni recently closed the Daphni Blue fund, targeting €260 million for investments in deep tech and sustainability. This fund aims to support companies that address critical environmental challenges and promote sustainable practices.
In 2022, Daphni launched the Digital Retail Fund, focusing on innovations in e-commerce and financial services, further diversifying its investment strategy.
What are Daphni's investment criteria?
Daphni focuses on early-stage startups, particularly in Seed and Series A rounds. The firm seeks companies with European roots and strong international ambitions, operating across various sectors including SaaS, fintech, healthcare, and climate technology. Daphni values user-oriented technologies that promote sustainability and social impact.
How can I apply or pitch to Daphni?
What makes Daphni different from other VC firms?
Daphni operates with a unique VC-as-a-platform model, leveraging a community of over 300 entrepreneurs and advisors to provide strategic support to its portfolio companies. This community-driven approach enhances collaboration and resource sharing among startups.
What is Daphni's geographic scope?
The firm primarily invests in Europe but maintains a global perspective, seeking startups with international expansion plans. Daphni's focus on European startups allows it to leverage local expertise while supporting global ambitions.
What is Daphni's post-investment involvement like?
Daphni provides ongoing support to its portfolio companies through its community of entrepreneurs and advisors. This includes mentorship, operational support, and access to resources that can help startups scale effectively.
What is the typical fund size and check size for Daphni?
Daphni manages assets exceeding €500 million and typically invests between $225,000 and $11 million in its portfolio companies. The firm operates three active funds, each with distinct strategies and focuses.
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