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Paris-based Breega closes a €250 million fund

Paris-originated VC Breega only closed its first fund in 2015, therefore it wasn’t until recently, when it announced its second €110 million Seed fund, that the company may have begun to get notoriety. Scale-ups including Moneybox, Cuvva, Coverflex, and Libeo are now part of its portfolio. How it was able to assemble an internal team of experts in growth, talent, and communications—about which more later—might be considered part of its “secret sauce.”

Breega appears to be hitting all the correct numbers, to put it briefly. With the closing of a €250 million venture fund, it is now able to invest in European firms beyond the Seed stage, up to and including the Series A stage. Along with London and Paris, it has just opened an office in Barcelona, run by Isabelle Gallo, a partner and recently appointed Head of European Venture. With the new fund, Breega hopes to support at least 20 businesses in total. Breega has so far invested in 70 promising portfolio companies in 7 different nations.

Institutional investors such as the European Investment Fund (EIF), Bpifrance, Group Crédit Agricole, Amundi, LCL, Isomer Capital, and a number of unnamed European businesspeople make up Breega’s investor base.

The assets managed by the new fund increased by 50% to €500 million. In the past seven years, Breega has held four fundraisers.

The assets managed by the new fund increased by 50% to €500 million. In the past seven years, Breega has held four fundraisers.

Our fourth and largest fund to date will enable us to finance later-stage companies at Series A stage and above and continue supporting our existing portfolio entrepreneurs as they grow, according to Breega Co-Founder and CEO Ben Marrel. We will be able to grow even further in one of Europe’s most vibrant IT ecosystems, the Iberian one, with the help of this fresh funding.

Property tech Ukio, the insurtech and employee benefits platform Coverflex, and the fintech investment platform Ninety-Nine are now investing in the Iberian sector.

A group of specialists in growth and matching, talent, marketing, and communication make up Breega’s internal, free-of-charge “Scaling Squad.” This “behaved like an extension of our own staff,” according to Moneybox founder and co-CEO Ben Stanway.

Marrel replied to my email by saying, “We’re also very interested in seeing how developments in Blockchain technology and quantum computing will impact innovation. Breega was an early investor in Alice&Bob, and we’re very excited to be joining them in the race to build the first fault-free quantum computer.”

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