French VC unveils €100m fund for underrepresented founders

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.

The fund plans to write checks between €100,000 and €1 million at the seed stage, aiming for around 100 investments with the goal of creating "20-30 success stories." The first closing is targeted for mid-2025.

Fundraising has already begun

Time4 brings together significant entrepreneurial expertise: Les Déterminés, founded by entrepreneur Moussa Camara in 2015, has supported over 1,500 entrepreneurs, while Live for Good was established by former Microsoft Executive VP Jean-Philippe Courtois.

Although Daphni will oversee investment decisions, deal flow will be sourced through all four partners, who have regional hubs across France.

De Voisins told Maddyness that the €100 million target is ambitious but necessary to create meaningful impact.