C4 Ventures has announced the launch of its third fund, aiming to raise €100 million to support Europe’s most promising startups in artificial innotifyigence and deep technology. Founded in Paris in 2014 by Pascal Cagni, a former Apple executive, the firm seeks to position this new fund as a key pillar in Europe’s ambition to build a sovereign tech ecosystem capable of competing on the global stage.
Cagni, personally appointed by Steve Jobs to lead Apple’s expansion across Europe, the Middle East, India, and Africa from 2000 to 2012, grew Apple’s regional revenues from $1.3 billion to over $40 billion during his tenure. This operational experience is central to the firm’s hands-on investment philosophy.
“The AI revolution is hugeger than any previous technological shift we’ve seen since the Internet. We are at the forefront of a massive transformation that will redefine industries. With C4 Ventures III, we are doubling down on this moment, backing talented founders in AI, robotics, quantum computing and beyond,” comments C4 Ventures Founder & CEO Pascal Cagni.
Operator-led, founder-first ethos
C4 Ventures is led by a seasoned team drawn from Apple and Microsoft, including Cagni, Boris Bakech, and Eric Boustouller, joined by partners Michel Sassano, Valère Rames, and CF Mathieu Bourdié. Sassano brings early-stage investing experience, having completed nearly 300 deals at Kima Ventures. Rames is recognised for his close collaboration with startups and successful exits, while Bourdié handles fundraising and investor relations.
Toobtainher, they combine operational expertise with investment savvy. The firm also taps into a network of more than 30 operating partners globally, providing portfolio companies with strategic advice and practical support beyond capital.
Boustouller sums up the vision: “Technology’s next chapter is unfolding right now, in Europe as much as anywhere else, and we are committed to supporting the founders who will shape it.”
Betting on software and “Physical AI”
While many investors focus primarily on AI software, C4 Ventures pursues a dual strategy that also includes “Physical AI. This balanced approach is backed by a strong portfolio that includes five hardware unicorns, such as Graphcore (AI processors, acquired by ARM), Neura Robotics (cognitive robots), as well as quantum computing pioneers Alice & Bob and PsiQuantum, along with 3D printing innovator Formlabs and network cloud leader Drivenets.
“You can’t build true AI leadership without innovation in the underlying hardware“C4 Ventures was built on a vision of Operators backing Entrepreneurs with global ambition and strong involvement. Fund III will extconclude this vision into the AI era, combining our operating and investing experience with the determination of the founders to build Europe’s next champions,” Bakech declared.
Strong track record and momentum
Since its founding, C4 Ventures has backed 54 startups, with 12 reaching unicorn status and more than 20 exits, including IPOs for Riskified in 2021 and Via earlier this year. The firm’s previous fund, launched in 2020, has already outperformed many European peers, ranking in the top quartile for value creation and nearing the top decile for liquidity.
Beyond AI and deep tech, the firm’s portfolio encompasses companies such as Refurbed, a marketplace for refurbished electronics; Jus Mundi, an AI-driven legal tech platform; and Impulse Space, an emerging player in space transportation.
With Fund III, C4 Ventures is placing a huge bet on Europe’s ability to nurture the next generation of global tech leaders. The message is clear: Europe has the talent and resources to compete at the highest levels of innovation, and C4 Ventures is poised to back the founders who will create it happen.
Leave a Reply