daphni is a Paris based venture capital firm founded in 2015 to back user oriented European startups with global ambitions. The firm is known for integrating community and technology into its investment model through daphnipolis, a network of more than 300 entrepreneurs, operators, researchers, artists, and advisors, and a digital platform designed for transparency and collaboration. daphni invests across Europe with a thesis grounded in innovation, scientific rigor, and scalable product vision.
The latest vehicle, Daphni Blue, closed at 260 million euros in January 2026. The fund focuses exclusively on startups built on fundamental research, backing scientific breakthroughs with commercial and global scaling potential. In its first nine months, the fund completed nine investments aligned with this thesis, including OWLO from Institut Langevin, EverDye, Karavela from Inria, and two upcoming techbio companies in France and the United Kingdom.
Daphni Blue strengthens the firm’s strategy of supporting European deep science from lab to market, helping founders navigate interdisciplinary R&D, early industrial partnerships, and long timelines inherent to science based ventures. The fund is backed by a mix of institutional LPs and individuals from the daphnipolis community, reinforcing daphni’s collaborative investment model.
In March 2025, daphni announced the first close of its third fund, daphni Blue, securing €200 million. The fund aims to reach a final close of €250 million by the end of the year.
Limited partners in this fund include Crédit Mutuel Arkéa, Bpifrance, the European Investment Fund, PRO BTP, and Swen Capital Partners.
Leadership
The firm is led by founder and managing partner Pierre Eric Leibovici alongside a multidisciplinary investment team with backgrounds in science, engineering, product, and venture building.
Investment Strategy
daphni backs companies rooted in complex scientific IP and works closely with founders to translate fundamental research into market ready products. The firm leverages its community of academics, entrepreneurs, and operators to support customer validation, industrial acceleration, and global expansion. daphni remains thesis driven, prioritizing startups with European DNA, strong technical proofs, and clear international relevance.
Notable Investments
Recent fund investments include OWLO, EverDye, Karavela, and two undisclosed techbio startups in France and the UK. Past investments across earlier funds include European startups that blend science, technology, and user centered innovation.
Notable Exits
Not publicly disclosed.
Other
The firm’s daphnipolis community offers founders access to experts across industry, academia, and creative fields, providing a unique advisory ecosystem. daphni also operates a proprietary digital platform to streamline collaboration, reporting, and decision making with full transparency.
Pierre-Eric Leibovici - Co-founder & Managing Partner
France
