Paris-based venture capital firm Elaia has successfully closed its third deep tech seed fund, DTS3, at a substantial $155.3 million. This amount is double the size of its preceding deep tech seed funds, signaling strong investor confidence in the sector. The fund is dedicated to empowering early-stage B2B startups across Europe, focusing on transformative technologies with global potential.
Strategic Partnerships and Investor Confidence
The fund's foundation is built upon a unique partnership model with premier European research institutions, including PSL, INRIA, and the Max Planck Foundation. This collaborative approach provides Elaia with early visibility into groundbreaking scientific discoveries and exceptional founding teams before they enter the market. These relationships are crucial for identifying and nurturing high-potential ventures from their inception.
DTS3's final closing was supported by a mix of long-standing partners and new institutional investors, such as Bpifrance, MGEN, and BNP Paribas. This robust financial backing underscores a collective belief in Elaia's proven investment strategy and the maturation of the European deep tech ecosystem. The strong presence of repeat investors in particular validates the firm's successful track record.
Investment Strategy and Focus Areas
Elaia will deploy capital from DTS3 through investments ranging from $1.2 million to $15 million in pre-seed and seed-stage companies. The firm's strategy is to partner with founders at the earliest stages, providing not just capital but also strategic support. This approach is consistent with Elaia's broader full-stack investment model, which supports companies from inception through to Series B.
The fund will concentrate its investments across three core pillars that are shaping the future of global industries. These areas include the future of computing, encompassing AI and quantum technologies, the future of industry, with a focus on robotics and energy, and the future of life sciences. This targeted strategy ensures a diversified yet specialized portfolio of innovative companies.
Early Momentum and Portfolio Highlights
Since its initial close of $70 million in March 2024, DTS3 has already demonstrated significant momentum by deploying capital to eleven promising companies. These early investments span multiple European markets, including France, Germany, Spain, and the United Kingdom, reflecting the fund's continent-wide ambition. The firm is currently in an intense phase of capital deployment that will continue through 2026.
The initial portfolio showcases the fund's diverse focus, featuring companies like Germany's Proxima Fusion, which is developing stellarator-based fusion power plants. Other notable investments include GetVocal, a French AI company creating auditable conversational agents, and Biophta, which is innovating ophthalmic treatments. These companies exemplify the fund's commitment to backing ventures that address fundamental global challenges.
Building on a Proven Model
According to Partner Anne-Sophie Carrese, DTS3 extends a partnership model that Elaia pioneered with its previous successful funds. This established framework has already produced notable outcomes, including the successful exit of Mablink Bioscience, which was acquired by Eli Lilly. The firm believes European deep tech is reaching "escape velocity," rivaling any innovation ecosystem in the world.
In summary, the launch of the $155.3 million DTS3 fund marks a significant milestone for Elaia and a major boost for Europe's deep tech sector. Managing Partner Xavier Lazarus emphasized the fund's international ambition and its role in scaling the next generation of category-defining companies. Elaia is actively seeking ambitious entrepreneurs to continue building on its strong momentum and proven investment thesis.