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Reflexion Capital is a venture capital firm based in France, established to identify, finance, and support technology companies that demonstrate strong growth potential while achieving profitability. Founded by Nicolas Meunier, the firm has built a reputation for focusing on B2B technology sectors, particularly in Software as a Service (SaaS), marketplaces, and cybersecurity. Reflexion Capital operates with a clear investment thesis that prioritizes sustainable business models over traditional burn-and-grow strategies.
The firm currently manages a portfolio of 10 companies and typically invests an average of €3 million per company. Reflexion Capital is known for its commitment to supporting semi-mature markets that exhibit potential for organic or external growth. The firm is regulated by the AMF in France and operates under the fund name Reflexion Capital #1.
Reflexion Capital's team consists of experienced professionals, including General Partners Ivan Michal and Jean Bertin, who bring a wealth of knowledge and expertise to the firm. The firm is also recognized for its community engagement through initiatives like the 'Bootstrap to the Moon' podcast, which shares valuable insights from entrepreneurs.
Reflexion Capital primarily invests in B2B technology sectors, focusing on Software as a Service (SaaS), marketplaces, and cybersecurity. The firm targets companies that are in semi-mature markets, demonstrating potential for organic or external growth. The average investment ticket size is €3 million, with a typical holding period of approximately 5 to 6 years. Reflexion Capital seeks to partner with firms that are either profitable or nearing profitability, aligning with their investment philosophy that emphasizes sustainable growth.
The firm is particularly interested in companies that can demonstrate a clear path to profitability and are willing to pursue growth strategies that do not rely on excessive capital burn. Reflexion Capital's investment strategy is designed to identify firms that can thrive in competitive environments while maintaining a focus on financial health. Their approach includes a preference for investments that can leverage existing market opportunities and drive innovation within their respective sectors.
Reflexion Capital's portfolio includes a diverse range of companies within the B2B technology space. Notable portfolio companies include:
Among these, MyTower stands out as a notable exit, showcasing Reflexion Capital's ability to identify and support companies that achieve significant milestones in their growth trajectories.
Nicolas Meunier - Founder & CEO. Nicolas has extensive experience in venture capital and entrepreneurship, having led multiple successful investments in the technology sector.
Ivan Michal - General Partner. Ivan brings a wealth of knowledge in B2B technology investments and has a strong track record of supporting portfolio companies in achieving growth.
Jean Bertin - General Partner. Jean has a background in technology and finance, contributing to the firm's strategic direction and investment decisions.
To pitch Reflexion Capital, founders should visit their website at reflexion.capital. The firm prefers direct applications through their online platform. In the pitch deck, it is essential to include a clear overview of the business model, market opportunity, and financial projections. Founders should also highlight their team's expertise and any traction the company has achieved. Response times may vary, but founders can expect to hear back within a few weeks.
As of March 2026, Reflexion Capital continues to expand its portfolio, focusing on B2B technology investments. The firm has recently highlighted its commitment to supporting companies that prioritize profitable growth strategies. Reflexion Capital remains active in the entrepreneurial community, promoting initiatives that foster collaboration among startups.
What are Reflexion Capital's investment criteria?
Reflexion Capital focuses on B2B technology companies, particularly in SaaS, marketplaces, and cybersecurity. They seek firms that are either profitable or nearing profitability, with a clear potential for organic or external growth.
How can I apply or pitch to Reflexion Capital?
Founders can pitch to Reflexion Capital by visiting their website at reflexion.capital. The firm encourages direct applications through their online platform.
What makes Reflexion Capital different from other VC firms?
Reflexion Capital emphasizes profitable growth strategies rather than burn-and-grow models. They focus on sustainable business practices and actively engage with the entrepreneurial community through initiatives like their podcast.
What is the geographic scope of Reflexion Capital's investments?
The firm primarily invests in Europe, with a strong focus on France. They target companies that operate within the B2B technology sectors in these regions.
What is the typical check size for investments?
Reflexion Capital typically invests an average of €3 million per company, aligning with their strategy to support firms that demonstrate strong growth potential.
What is Reflexion Capital's post-investment involvement?
Reflexion Capital actively engages with its portfolio companies, providing support in scaling operations and implementing profitable growth strategies. They also facilitate connections within the entrepreneurial community.
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