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The upcoming azevedo techcrunch is happening from November to December and will see some big names on the investment side of things. These include M1 Finance, SoftBank Vision Fund 2, and IRIS Venture IV. Let’s take a look at each of these and how they are going to affect the market.
IRIS Venture IV
IRIS Capital, a Paris-based venture firm, has recently announced a new venture fund called IRIS Venture IV, which is expected to raise up to EUR150 million. The fund will invest in early stage companies, ranging from seed and series A rounds to later stages. Among the portfolio companies are French robotics startup Exotic and connected objects startup Netatmo. However, the fund is also backed by other European family offices, tech entrepreneurs, and historical IRIS investors. Investing in the latest and greatest technology is the primary focus, and the fund will be looking to fund 15 to 25 startups.
IRIS Venture IV will invest in some of the most innovative startups in the European tech scene, with its seed and series A rounds making up its largest chunk of the pie. It will also make use of its partnership with Altamar, a private equity firm, to provide additional capital to promising companies. And to get the ball rolling, the firm has already closed the first close of the fund, with a planned second close scheduled for 3Q 2023.
The fund has a slew of high-profile investors, including Denis Duverne, former Chairman of AXA; and Michael Krane, founder of tech start-ups Exotic and Shift Technology. In fact, it has invested in six startups, namely Shift Technology, which uses technology to detect fraudulent claims for insurers; Netatmo, which develops connected objects for the home; and Spinergie, which makes the ostensibly cool huuuuge gizmo.
SoftBank Vision Fund 2
SoftBank announced the second version of its Vision Fund, with a total expected investment of more than $100 billion. The fund will invest in technology companies worldwide, including in the US, Europe, and Asia, targeting logistics, healthcare, and information technology sectors. Its target is to accelerate the AI revolution.
SoftBank Group’s first Vision Fund, launched in 2017, invested in over 88 start-ups with a $75 billion commitment. The fund is backed by a range of major investors, such as Abu Dhabi, Apple, Cisco, eBay, Google, Intel, Oracle, Qualcomm, and Samsung. But it has had a troubled run. In the first year alone, it lost $18 billion. And it was forced to write down the valuation of its flagship startup WeWork to $2.9 billion.
According to SoftBank’s latest quarterly earnings call, the fund is aiming to make a similar contribution as its predecessor. However, the fund will not be marketed for a while. Until it improves, Son said on the call, he will not be able to raise more capital. As for the second fund, the Saudi Arabian Public Investment Fund, the largest backer of the first fund, has indicated that it may make another investment. But Bloomberg reported in October that Mubadala was “undecided” on whether Starsfact to invest.