Breaking Barriers in French Venture Capital
France’s startup ecosystem has flourished over the past decade, fueled by both public support and private investment. Yet beneath this growth lies an uneven playing field. Recent data reveals that venture capital remains concentrated among Paris-based founders from elite academic institutions, leaving immense untapped potential across diverse backgrounds and regions.
A New Vision for Inclusive Investment
Venture firm Daphni is challenging this status quo with Time4 – a groundbreaking €100 million fund specifically designed to back French entrepreneurs from underrepresented backgrounds and rural areas. Launched in September 2024, the initiative represents more than social impact; it’s a strategic move to unlock overlooked economic potential.
“We’re certain there’s under-exploited entrepreneurial talent across France,” explains Daphni venture partner Anita de Voisins. “Time4 addresses this gap while delivering strong returns.”
Strategic Partnerships Driving Change
Time4 distinguishes itself through key collaborations with:
- HEC Paris (prestigious business school)
- Les Déterminés (nonprofit combating social determinism)
- Live for Good (impact entrepreneurship organization)
These partnerships enable Time4 to:
- Move beyond traditional Paris-centric deal flow
- Provide hands-on mentorship for first-time founders
- Offer larger initial investments (compensating for limited “love money” access)
Investment Strategy and Portfolio Approach
The fund plans to:
- Back approximately 100 startups
- Target “several dozen” success stories
- Diversify risk through broad portfolio construction
“We’re building a sizable fund to make meaningful impact at scale,” notes de Voisins.
Who Qualifies for Time4 Funding?
The fund seeks entrepreneurs who face systemic barriers, including:
- Individuals from modest socioeconomic backgrounds
- Founders in remote/underprivileged regions
- Jobseekers and career changers
- People with disabilities or unconventional education paths
As an Article 9 fund, Time4 also prioritizes ventures that strengthen social infrastructure through:
- Employment access
- Affordable services
- Territorial connectivity
- Digital/financial inclusion
Current Progress and Future Plans
Time4 has already identified nearly 800 qualifying projects. While fundraising continues through 2026, the team aims for:
- First closing by mid-2025
- Initial investments following shortly after
The initiative recently debuted at Bpifrance’s Quartier Général, aligning with France’s growing focus on inclusive entrepreneurship through programs like:
- Entrepreneuriat Quartiers 2030 (urban neighborhood support)
- French Tech Tremplin (underrepresented founder initiative)
The Paul Lê Inspiration
French Tech Tremplin’s new ambassador Paul Lê exemplifies Time4’s aspirations. His grocery delivery startup La Belle Vie overcame barriers to achieve success – precisely the breakthrough stories Time4 aims to multiply across France’s entrepreneurial landscape.
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