Investor Profile: Daphni — Thesis, Cheque Size & How to Apply

Daphni funding is the route to one of Europe's most distinctive venture firms. This Paris-based VC, founded in 2015, practises what it calls "VC as a platform": an open-innovation investment model powered by daphnipolis, a community of more than 300 entrepreneurs, executives, academics, artists and advisors. Fresh from the €260M final close of its science-driven Daphni Blue fund in January 2026, Daphni is deploying capital into the startups it believes will turn European science into global companies.

Thesis & focus

Daphni's own line on the craft is blunt: "There are no formulas in VC… Human-driven, community-powered, tech-augmented: this is how VC is done our way." The original Daphni Purple thesis screened for three traits: European DNA, global ambition, and consumer or prosumer appeal. The current flagship, Daphni Blue, carries a sharper conviction: "long-term technological leadership will be built on scientific excellence". Blue backs early-stage scientist-entrepreneurs commercialising deep scientific IP from Europe's public research system rather than commoditised software. Daphni is an entreprise à mission and is B Corp certified with a score of 160.8.

Sectors & stages

Daphni invests from seed through Series A. For Daphni Blue, the hunting ground is science-driven deeptech — life sciences, biology, physics, chemistry and mathematics — with tickets of €500k–€10M and follow-ons up to €20M, across 40–50 companies. Earlier strategies covered user-oriented consumer and prosumer tech, fintech, food, retail, health, education and sustainability; original Purple cheques ran €300k–€3M. A new vehicle, Time4, targets entrepreneurs "ignored by venture capital": it held a €50M first close and targets €100M, launched with Les Déterminés, Live for Good and HEC. Daphni also runs Dastore, a retail-tech fund built as a joint venture with Carrefour.

Fund size & cheque size

The fundraising record is public and recent: Daphni Purple raised $165M (about €170M) in 2016; Daphni Yellow raised $100M in 2020, backing around 30 projects with $1–5M cheques; and Daphni Blue closed at €260M in January 2026, its final close reached in under nine months with backing from Crédit Mutuel Arkéa, Bpifrance, the European Investment Fund, PRO BTP and Swen Capital Partners. The firm's own statements put total assets under management at more than €500M.

Daphni funding: notable portfolio

The Purple era produced Back Market, Swile and Memo Bank. Yellow backed quantum-computing standout Pasqal alongside Ankar, Pruna, Animaj and Hubcycle. The Blue era is underway with OWLO, EverDye, Karavela, TerraSpark, Generare, baCta, Neotis and Astral Systems — a portfolio that shows the science-first thesis in action.

Partners & team

Pierre-Eric Leibovici is co-founder and managing partner; serial entrepreneur Marc Simoncini is a partner; Pierre-Yves Meerschman and Charles-Henry Tranié manage the Yellow strategy; and Sauvanne Saint-Léger is Partner for Investor Relations.

How to apply for funding

Daphni offers a genuine front door: https://apply.daphni.com is a live official portal inviting founders to "apply now to enter our investment process". Submitted projects are shared with the firm's closed expert community, so a sharp application that explains your European DNA and global ambition — or your scientific edge for the Blue strategy — goes a long way. The firm also runs FirstMile, a founder resource hub, plus the Techbikers and The VC Bridge events for meeting the team.