Elaia has announced a first close of its fifth Digital Venture Fund (DV5)
at €120 million. The fund will focus on investing in European B2B technology
companies with strong intellectual property foundations, spanning both
foundational infrastructure and application-level innovation.
The first close includes commitments from both returning and new
investors. Participants include Bpifrance, investing on behalf of the French
state under the France 2030 initiative and through its Spark fund, as well as
MACSF, BNP Paribas, SMABTP, Arundo Re, and Groupe AG2R LA MONDIALE. Elaia also
highlighted the support of Lazard Frères Gestion in achieving the first close.
DV5 builds on Elaia’s long-standing investment approach, which combines
early identification of advanced technologies with active support to help
companies scale into sustainable, category-leading businesses. The fund is
managed by a team with technical expertise and experience in building, scaling,
and exiting technology companies, and takes a hands-on role in supporting
product-market fit and execution.
The fund will invest across early stages, from pre-seed to Series B, with
ticket sizes ranging from €1 million to €15 million. DV5 targets B2B technology
companies across Europe, with a focus on areas such as artificial intelligence,
cybersecurity, techbio, industrial innovation, and core digital infrastructure.
Xavier Lazarus, CEO and co-founder of Elaia, said the firm’s full-stack
investment model enables it to support companies across all stages of growth:
As a full-stack investor with a platform to invest across all stages, we
are well-positioned with DV5 to build the next chapter in our mission to
supercharge Europe’s most resilient, high-growth companies.
Pauline Roux, managing partner at Elaia, added that the firm’s strategy
centres on investing in complex, high-impact technologies with the potential to
shape entire sectors:
Portfolio successes like Mirakl, Shift Technology, Vibe.co, iBanFirst,
HarfangLab, Dexory, and SeqOne underscore our ability to identify disruptive
potential at an early stage and support its development into market leadership.
Founders in our portfolio continue to partner with us as advisors and
investors, reflecting the long-term relationships we have built across the
European ecosystem.
DV5
has already made its first investment in Mimic Robotics, a Zurich-based company
working on physical AI. The investment reflects the fund’s focus on backing
advanced technologies emerging from key European innovation hubs.