Time4 is a French pre-seed and seed fund launched in 2024 as an alliance between VC firm daphni, nonprofits Les Déterminés and Live for Good (Entrepreneurs for Good), and HEC Paris. The fund was created to address a documented gap in French venture capital: most VC-backed founders are Paris-based and come from a small number of elite schools, leaving vast entrepreneurial talent across rural regions, priority neighborhoods, and non-traditional backgrounds without access to early capital.
Time4 invests across all sectors and is not tech-exclusive. The fund prioritizes double-impact companies that combine economic growth potential with positive social outcomes. Founders may come from rural France, QPV (priority urban policy areas), underrepresented communities, or non-traditional educational backgrounds.
Time4 reached a €50 million first close in early 2026, just one year after its launch, against a €100 million target. Lead LPs include MGEN, Bpifrance, Covéa, and BNP Paribas, along with individual investors Christine Kolb, Lenny Vercruysse, and Philippe Oddo through FIDAT Ventures.
The fund plans to invest in approximately 60 startups at check sizes between €100K and €1M, making it one of France's largest seed funds by portfolio count. Each investment comes with 24 months of structured support through JPMorgan Chase, including mentoring, bootcamps, and VC-Ready preparation. The fund is currently raising toward its €100M final close.
Leadership
Time4 does not have a single managing partner. It is led operationally by Anita de Voisins, Venture Partner at daphni and head of the Time4 initiative. De Voisins previously led innovation and entrepreneurship at CentraleSupélec, and before that launched Phenix, a circular economy startup. The fund draws on the broader daphni investment team (founded by Pierre-Eric Leibovici) and the networks of the three partner organizations.
Investment Strategy
Time4 writes first checks of €100K to €1M and targets approximately 60 startups per fund cycle. The firm is deliberately territory-agnostic across France, using ground-level scouting networks from Les Déterminés and Live for Good to find founders outside the traditional inbound VC pipeline. Investment decisions factor in both commercial potential and social impact. Each portfolio company receives 24 months of active support.
Notable Investments
Early portfolio companies from the first investments:
Other
Time4 runs a VC Ready program designed to help underrepresented founders prepare for venture fundraising, with a goal of supporting 200 founders through the program. The alliance model means founders get access to three distinct support ecosystems: daphni's VC and investor network, Les Déterminés' community of 2,500+ entrepreneurs from priority areas, and Live for Good's 850+ alumni network of impact entrepreneurs.
France
