Truffle Capital pulls in nearly €400m for MedTech, FinTech funds


French venture firm Truffle Capital has raised €390m for the final close of two tech-focused funds, set to back startups in the MedTech and FinTech sectors.

The firm has secured €250m of commitments for its BioMedTech fund, and €140m for its FinTech-InsurTech fund.

Limited partners committed to the fund included Obratori, Guerbet Group, Agrica Group, la Cipav, BPCE, Caisse Centrale de Réassurances, ProBTP and Sopra Steria.

Truffle also secured a mandate from French pension fund Fonds de Réserve pour les Retraites.

The new BioMedTech fund will invest in a dozen companies, located mostly in France and developing medical devices and medications based on disruptive technologies.

Truffle’s new Fintech-Insurtech vehicle will fund between 12 and 15 companies using AI and blockchain technologies for the banking and insurance industries.

The VC has already used the BioMedTech fund to build five startups, and the Fintech-Insurtech fund to invest in five companies.

Truffle chairman Patrick Kron said, “The success of this ambitious fundraising is a great source of pride for Truffle Capital and its teams. The confidence of these top-tier investors is further proof of the relevance and the efficiency of our unique model.

“Our position as entrepreneur-investors has enabled us to create genuine global leaders, able to use disruptive technologies to propose new offers and address unmet needs. Thanks to the unique experience we have acquired, we are convinced that we will be able to structure and grow particularly promising investments.”

Truffle was launched in 2001 and has invested in more than 70 companies, of which 80 per cent were created by or with the support of the firm.

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