[FW Invest] Nearly 400 million raised by French tech companies in the 2nd quarter

by bold-lichterman

After a very promising first quarter 2016, investments in French tech companies fell slightly in the second quarter, with 399.1 million euros invested between April and June, or -7.7% compared to Q1. However compared to the same period in 2015, the amounts invested in tech companies increased by 53%.

If we consider the number of operations, the second quarter of 2016 also greatly surpasses the second quarter of 2015. 172 fundraising events announced, compared to 91 the previous year. But more fundraising doesn’t necessarily mean more money. In fact, the average ticket was down in the second quarter against Q1, with, on average, 2.3 million euros invested.

The Top 3 of T2

Champion of this second quarter, the transport sector with 59.3 million euros invested, followed by tourism, with 56.5 million euros. Finally, 43.5 million euros were invested in the marketing, sales and communication sector.

With its 80 operations announced, it was in June that there was the most fundraising during the quarter. Note that this is also the month that has seen the most operations since the start of the year.

If we consider the amounts invested over the period, June also comes out on top with 155 million euros invested. It thus rose to second place among the most active months of 2016, behind the month of January (234 million euros invested). However, this is less good than the exceptional performance observed in June 2015, where 173.2 million euros were invested and 36 fundraising events were identified.

Three fundraising events exceeding 20 million euros

Since the beginning of April, three operations have exceeded 20 million euros. Acco Semiconductors, which develops and markets power amplifiers for smartphones and connected objects, has thus raised 35 million euros from French and international investors (Partech Ventures, A Plus Finance, Omnes Capital, Siparex, Foundation Capital, Pond Ventures) as well as than BPI France.

MisterFly, specializing in online travel reservations, has raised 31 million euros from Montfiore Investment and Vente-privée. And finally Drivy, a rental platform between individuals, raised 20 million euros from international investors (Cathay Innovation, Via ID and Index Ventures), BPI France, and Nokia Growth Partners. The most significant fundraising of the quarter therefore all saw international investors take stakes in the capital of French companies.

FWInvest_T2-2016

BPI France, Serena Capital and Siparex: the Top 3 funds

Without surprise, BPI France once again tops the list of the most active investors over the period, with participation in 32 transactions in three months. The public bank was most active in June, with almost half of its holdings for the quarter announced at that time.

The bottom Serena Capital comes second among the most active investors, with four equity investments identified: HomeRez (4 million euros raised), Evaneos (18 million), Qualtera (3 million euros) and Habiteo (3 million euros) . The fund notably co-invested twice with the XAnge fund during the quarter (within Evaneos and HomeRez).

Finally, the fund Siparex comes third, with three equity investments over the period: Acco Semiconducteur (35 million euros raised), SequoiaSoft (6 million euros) and Kaemo (0.4 million euros).

These French people who raised funds abroad

The month of June was also marked by significant fundraising by French entrepreneurs located abroad. We note in particular:

  • Once: The Swiss-based dating app has raised € 5 million from Partech Ventures and private investors.
  • Ifeelgoods: The web platform for promotions and customer loyalty based in Palo Alto has raised 5.4 million euros from Idinvest, the Up group and Tugboat Ventures.

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