France’s Startup Ecosystem: A New Era of Inclusion and Diversity
The Rise of Daphni’s Time4 Fund
France’s startup ecosystem has experienced significant growth over the last decade, thanks to public support and private investment. However, this growth has not been evenly distributed across the country. Most venture-backed startups are Paris-based, with founders coming from a handful of elite universities and schools. This trend is what Daphni, a venture capital firm, hopes to change with Time4, a €100 million fund dedicated to investing in French founders from diverse backgrounds and rural areas.
A Different Approach
The Daphni team believes that reversing this trend requires a different approach. That’s why they launched Time4 in partnership with business school HEC Paris and two non-profits: Les Déterminés and Live for Good. These partnerships are crucial to the fund’s investment strategy, as they will enable Time4 to go beyond the usual inbound-first, Paris-centric approach of venture investment.
Inspiring Inclusion
Time4’s effort will be dedicated not only to investing in startups but also to inspiring more people to start companies with ambitious goals, regardless of their background. This is in line with the vision of co-promoter Moussa Camara, whose non-profit Les Déterminés advocates for entrepreneurship that thwarts social determinism.
A Focus on Impact
Time4’s members have already identified almost 800 projects that match its double-investment strategy. However, it won’t start deploying funding until at least mid-next year, which is the date it’s targeting for its first closing. The roadshow has already started, with the initiative being presented onstage today at Bpifrance’s Quartier Général event on entrepreneurship in disadvantaged neighborhoods.
A New Era of Inclusion
Time4 is not alone in its efforts to promote inclusion and diversity in France’s startup ecosystem. Bpifrance, France’s public investment bank, has launched several initiatives to boost entrepreneurship in priority urban policy neighborhoods. The French Tech Tremplin initiative also supports entrepreneurs from underrepresented backgrounds.
A Success Story to Inspire
Paul Lê, a grocery delivery startup founder, is an example of a success story that Time4 would like to see more of. His startup, La Belle Vie, often comes up as an example of a breakthrough success. De Voisins and her team are confident that there’s more to come.
The Future of Venture Capital
Time4’s approach to venture capital is a new era in the industry. By focusing on inclusion and diversity, Time4 is not only investing in startups but also creating a more sustainable and equitable ecosystem. This shift in focus will have far-reaching consequences for France’s startup ecosystem and beyond.
A Larger Impact
As an Article 9 fund, Time4 is making a commitment to also fund projects that have a positive social impact. This means that the fund will not only generate returns but also create a more just and equitable society.
The Next Generation of Entrepreneurs
Time4’s efforts to promote inclusion and diversity are crucial for creating a new generation of entrepreneurs who reflect the country’s diverse demographics. By investing in startups from underrepresented backgrounds, Time4 is contributing to a more inclusive and sustainable economy.
A Bright Future Ahead
As Time4 continues to grow and develop its portfolio, it will be exciting to see the impact that this fund has on France’s startup ecosystem. With its focus on inclusion, diversity, and social impact, Time4 is leading the way in creating a more equitable and sustainable future for all.
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