French VC unveils €100M fund for underrepresented founders
5 dec. 2024
14:16
Venture capital firm Daphni has teamed up with impact-focused organisations to launch Time4, a new €100m fund aimed at backing entrepreneurs from underrepresented backgrounds in France's tech ecosystem.
According to the French tech site Maddyness, the fund—announced in partnership with the non-profits Live for Good and Les Déterminés, as well as HEC Paris business school—will focus on founders from priority urban neighborhoods and rural revitalization zones. These groups currently receive just 1 percent of private capital funding despite making up 15 percent of entrepreneurs receiving non-dilutive funding.
"We're looking for entrepreneurs who might not have degrees from top schools, who come from challenging backgrounds, who may not have the right networks or codes," Daphni venture partner Anita de Voisins told Maddyness.