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HCVC, originally known as Hardware Club, is a venture capital firm founded in 2015 and based in Paris, France. The firm emerged from the world's largest community of hardware startup founders, evolving into a formal venture capital entity focused on hardtech investments. HCVC aims to industrialize scientific and technological progress by supporting innovative technologies that can disrupt existing markets.
As of 2023, HCVC manages a fund size of $75 million and has invested in over 56 companies. The firm operates primarily in Europe, with a strong emphasis on France. Notable milestones include the successful closure of Fund II in October 2023, which targets approximately ten deals per year. The firm has established a global community of over 500 hardtech startups, providing shared resources that enhance operational capabilities for its portfolio companies.
HCVC invests in early-stage companies, particularly in the hardtech sector, which includes computing, biotechnology, climate technology, and robotics. The firm primarily targets pre-seed and seed rounds, with check sizes ranging from $100,000 to $2.5 million. Their investment strategy emphasizes innovative technologies that have the potential to disrupt existing markets and drive significant advancements in various industries.
The firm’s thesis centers on hardtech and deep tech investing, focusing on companies that are digitizing, automating, and decarbonizing the world. HCVC is particularly interested in startups addressing complex technical challenges in sectors such as decarbonization, defense, and space. This strategic focus allows HCVC to back founders who are pioneering breakthrough innovations in their respective fields.
HCVC's portfolio includes a diverse range of companies that exemplify its commitment to hardtech innovation. Notable portfolio companies include:
Additionally, HCVC has notable exits such as Augmenta, acquired by CNH Industrial, and Caper, acquired by Instacart. The firm continues to expand its portfolio, focusing on companies that align with its investment thesis and operational support model.
Alexis Houssou: Founder & Managing Partner. Alexis has a background in venture capital and entrepreneurship, having founded HCVC after establishing Hardware Club. He focuses on guiding the firm’s investment strategy and supporting portfolio companies.
Jerry Yang: General Partner. Jerry brings extensive experience in technology investments and has been instrumental in shaping HCVC's portfolio strategy.
Aymerik Renard: General Partner. Aymerik has a strong background in engineering and technology, contributing to the firm’s focus on hardtech.
Alexandre Flamant: Partner. Previously a Principal at Singular, Alexandre specializes in identifying promising startups in the hardtech sector.
Isabel Zhang: Investor. Isabel focuses on sourcing and evaluating investment opportunities within the firm’s target sectors.
Cyril Abiteboul: Venture Partner. Formerly the Principal of the Renault F1 Team, Cyril joined HCVC in 2021, bringing a wealth of experience in high-performance technology.
To pitch HCVC, founders should visit their website at hcvc.co. The firm prefers direct applications through their online platform. When preparing a pitch deck, it is essential to include a clear overview of the technology, market opportunity, and team qualifications. HCVC typically responds within a few weeks, and while warm introductions can be beneficial, they are not strictly necessary.
In October 2023, HCVC successfully closed Fund II with a total size of $75 million, targeting investments in hardtech companies. This fund aims to support approximately ten deals per year, focusing on early-stage startups in sectors such as biotechnology, climate technology, and robotics.
Recent portfolio highlights include investments in companies like Renaissance Fusion, which is innovating in nuclear fusion technology, and Antaris, which is developing a satellite operating system. These investments align with HCVC's thesis of supporting companies that are digitizing, automating, and decarbonizing the world.
What are HCVC's investment criteria?
HCVC primarily invests in early-stage hardtech companies, focusing on sectors such as computing, biotechnology, climate technology, and robotics. They target pre-seed and seed rounds with check sizes ranging from $100,000 to $2.5 million.
How can I pitch to HCVC?
Founders can pitch to HCVC by visiting their website at hcvc.co. The firm encourages direct applications through their online platform.
What makes HCVC different from other VC firms?
HCVC differentiates itself through its strong focus on hardtech and its extensive community of over 500 startups, which provides shared resources and operational support to portfolio companies.
What is HCVC's geographic focus?
HCVC primarily focuses on investments in Europe, particularly in France, but also considers opportunities in North America.
What is HCVC's post-investment involvement like?
HCVC provides significant value-add to its portfolio companies through access to a global community, shared manufacturing, distribution, and supply chain resources, helping startups navigate complex technical challenges.
What is the fund size and target deal pace for HCVC?
HCVC's Fund II has a size of $75 million, and the firm targets approximately ten deals per year.
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