French VC Aquiti Closes €60 Million Fund for Startups Outside Major Hubs
French venture capital firm Aquiti has held the final close of its AVA1 fund at nearly €60 million. The fund will back founders in the Greater Southwest of France from the pre-Seed stage onwards.
French venture capital firm Aquiti, which invests in early-stage companies, has announced the final close of its AVA1 fund at nearly €60 million. The fund is meant to back founders building companies across the Greater Southwest of France, starting from the earliest, pre-Seed stage. It matters for the startup ecosystem because the money is directed at entrepreneurs located outside the traditional venture capital hubs.
Investment terms
A "final close" means that fundraising for the fund is complete and the total will not grow further. Through AVA1, Aquiti invests at pre-Seed and Seed, the earliest financing stages for startups, when a company is typically still shaping its product or looking for its first customers.
Initial investments range from €100,000 to €3 million. The fund has also set aside substantial reserves for follow-on rounds, meaning it can keep investing in the same companies when they raise further capital.
The announcement does not name specific portfolio companies or investors in the fund, so the available details are limited to the fund's size, its geographic focus, the stages it targets and the size of its cheques.
