Paris-based Breega closes €250M fund and opens Barcelona office to support Iberian start-ups

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Paris venture capital Briga was not hugely known in the venture capital world (he only closed his first fund in 2015), until he may have started to attract attention with his second €110 million seed fund, just under a year ago. His portfolio now includes a range of extensions including Moneybox, Cuvva, Coverflex and Libeo. Perhaps part of her “secret sauce” is how she managed to assemble an internal team of development, talent, and communications experts, more on that later.

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Suffice it to say that Briga seems to be hitting all the right numbers. It has now closed a €250 million venture capital fund, which has enabled it to move from funding European seed stage companies to being able to progress to the Series A stage and beyond. In addition, there is now an office in Barcelona (along with London and Paris) led by partner and newly appointed head of European venture business Isabelle Gallo. Breega’s goal is to fund at least 20 companies in total with the new fund. To date, Breega has supported 70 promising portfolio companies in 7 countries.

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Breega’s investors include EIF (European Investment Fund) institutional players Bpifrance, Group Crédit Agricole, Amundi, LCL, Isomer Capital and a number of European entrepreneurs who Breega did not name specifically.

The new fund doubles its assets under management to half a billion euros. This is Breega’s fourth fundraiser in seven years.

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The new fund will focus heavily on (though not limited to) fintech and insurance companies.
Brigi’s new fund also backed Keebo (fintech), UKIO (real estate), and Mila (insurtech).

Ben Marrell, co-founder and CEO of Breega, said in a statement: “Our fourth and largest fund to date will allow us to fund later-stage companies in Series A and beyond, and continue to support startups from our existing portfolio as they grow. . This new money will also allow us to further expand within Iberia’s increasingly dynamic technology ecosystem, one of the most dynamic in Europe.”

Current investments in the Iberian market include real estate technology Ukio, insurance technology and employee benefits platform, Coverflex, and financial technology investment platform, Ninety-Nine.

Breega’s own free Scaling Squad is made up of a team of development and recruitment, talent, marketing and communications experts. Ben Stanway, founder and co-CEO of Moneybox, says it “acted like an extension of our own team.”

Responding to me via email, Marrell added: “We are also very interested in seeing how advances in blockchain technology and quantum computing affect innovation – Briga is one of the first investors in Alice & Bob and we are very excited to accompany them in the race. . to the creation of the world’s first fail-safe quantum computer.”


Credit: techcrunch.com /

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