Alven, the Paris-based venture capital firm, has reached an agreement to transfer full ownership from its founders to a new generation of investors over the coming years. The deal ends a prolonged period of uncertainty about succession and clarifies the future leadership of the firm. Guillaume Aubin and Charles Letourneur, who founded Alven more than twenty-five years ago, will gradually sell their entire stake under the protocol.
Leadership and Ownership Transition
Under the agreement, Rodolphe Menegaux, François Meteyer and Maria Tahri will succeed the two founders as owners of the firm. Menegaux, previously a partner, becomes general manager and will steer future funds with Meteyer and Tahri. The financial terms have been set and accepted by all parties, while the founders will continue to manage the firm's historical portfolio holdings.
New Fundraising Plans
The governance clarification is intended to open a new chapter for Alven as it prepares to launch a new investment vehicle before the end of the year. A closing is expected next year, although the firm has not disclosed the target size or the investment strategy of the future vehicle. Its most recent fund closed in 2022 with 350 million euros in commitments, a significant pool of capital for European technology startups.
Recent Departures and Speculation
The succession process has not been without difficulty, as several team members have left Alven in recent months. Bartosz Jakubowski and Thomas Cuvelier, both partners, departed at the end of last year, along with Principal Margaux Grégoir and Pauline Ancona. Their exits followed ongoing questions about how the founders, who turn sixty this year, would organise a transition.
A History of Succession Challenges
Alven has experienced similar moments in the past. In 2019, partners Raffi Kamber and Jérémy Uzan, once seen as potential successors, left to launch Singular, which has become a notable French venture capital player. These successive departures had strengthened doubts about the firm's ability to complete a generational transition, especially as the founders approached this milestone.
Avoiding a Spin-off
At the same time, the market had speculated that Menegaux and Meteyer might leave to create their own management company with other team members, including Maria Tahri. That scenario would have focused on artificial intelligence and health startups. Guillaume Aubin said the agreement reached this summer removes any possibility of an Alven spin-off or further departures, ensuring continuity for the firm.
Established Track Record
Alven has built a strong reputation since its founding in 2000. The firm was among the first investors in companies that later became major technology players, including Qonto, Dataiku, Algolia and Stripe. This track record has made the succession question especially significant for the French venture capital ecosystem. The new generation will be expected to maintain that performance.
By organising a gradual capital transfer, appointing Menegaux as general manager, and preparing a new fundraise, Alven is seeking to close months of uncertainty about its future. The agreement provides continuity for existing portfolio companies and clarity for limited partners. The next generation now has a defined path to carry the firm forward.
Source: Maddyness