France Digitale delivers an inventory of investors who have contributed to the growth of the companies that make up the 2022 promotion of the French Tech Next40/120 program.
In recent weeks, French Tech has recorded several XXL fundraisers, demonstrating its attractiveness to French and foreign investors. And so that we can get a better idea of this vast ecosystem, the France Digitale association, which defends the interests of start-ups, has published an extensive analysis. Inside, she takes stock of the situation of investors, their nationality and their typology, in addition to the trends of these funds which boost the growth of companies in the French Tech Next40/120 ranking.
Eurazeo and Bpifrance, the most active investors in the Next40/FT120
By specifying that this classification does not take into account the business angel (private individual investors), 441 investors invested during the various stages of development of the 120 companies in the ranking. 41% of investors in the 120 Next40/FT120 start-ups, i.e. 182 in total, are French.
The Eurazeo fund, which raised 5.2 billion euros in Europe in 2021, is the one that has invested most often in the Next 40, with 22 investments, and the second most active in the Next40/FT120, with 40 participations in rounds of table. Deezer, Back Market, Happn, Alma, Malt, ManoMano, Withings and Klaxoon are among the lucky ones.
With a record of 48 participations for the FT120, including 17 for the Next40, Bpifrance is at the top of this ranking of French investors. The public investment bank has notably supported Contentsquare, Kinéis and Payfit. Kima Ventures (22), Alven (16) and Partech (15) complete the top 5 by number of investments.
Anglo-Saxon funds almost as numerous as French funds
Nearly one in two Next40/FT120 investors injected non-European funds (49%, 216 funds in total). All the most active, with the exception of the Japanese SoftBank and its 5 participations, are American investors. We thus find Accel (7 investments), Cathay Innovation (6) Goldman Sachs (6), General Atlantic (6), Index Ventures (5), Kohlberg Kravis Roberts (5) and Tiger Global Management (5). Of the 216 non-European funds listed, 142 are American, 29 British, 8 Swiss and 5 Hong Kong. This trend towards investment from Anglo-Saxon countries was explained to us a few months ago on Clubic by David Bitton, the historic founder of ISP Oreka.
With regard to European investors outside France (41 in total), the European Commission and the German fund Global Founders Capital were the most active with French Tech Next40/120 start-ups, with 6 investments each. The Italian fund H14 follows, with 4 holdings. Germany is the most present European nationality in the class of 2022, with 9 participations, ahead of Sweden (6), the Netherlands and Luxembourg (5) as well as Spain and Belgium (4).
If 51% of the funds are venture capitalists (minority participation which aims to develop a company in the start-up phase) and that 23% of the funds take the form of private equity, 16% are large venture capital funds. groups. BNP Paribas, with 10 investments, is the most active in this area. This is followed by Crédit Agricole and Goldman Sachs (6), then Crédit Mutuel Capital Privé (5) and Orange Ventures (4).
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