Future of foundersA VC company based in Paris with 300 million euros in management assets (about $ 324 million in current exchange rates), opens the capital of the portfolio company that manages the funds of the founders of the future Sowefund. The company has sold a 25% share of the MACSF portfolio, the Dassault family, the CMA CGM Group and others.
Since 2018, Future founders have had an interesting history with some early stage bets in Lydia, Alma, Taster, La Fourche, Riot, Swan, Yuka and many other newly established businesses we covered here in Techcrunch. Overall, the company has invested in 110 companies in two early stages and a development fund.
Future founders have set an ambitious target for 2030. The company wants to reach 1 billion euros in management assets, which means to raise new rapid capital.
“In a world where you have many personal initiatives in VC companies – because you have a lot of GPS solo, you have a lot of super angels – we are creating a company,” my founding partner Marc Menasé told me. “And so we wrote our 2030 course map. As we wrote this path map, we used this opportunity to reopen our capital in a slightly more structured way to give us the means to achieve our ambitions.”
With this cash inflow, the founders of future plans to expand to the US, hire one team and open two offices – one on the east coast and another on the west coast.
“I made a simple observation, you look at the companies starting in Europe and eventually have found a very good product market and generate significant revenue in their country of origin,” Menasé said.
“What happens is that when they arrive in the US … they multiply their ARR by two or three times after 36 months operating in the United States, generally have a much better ability to raise money from US investors and much higher values - generally twice as much as Europe,” he added.
He believes that newly established US -based businesses reach higher valuations because they have more output opportunities, especially when it comes to acquisitions from larger companies.
“So when you put all this together, we want to become a world company and make sure we have a European hand and an American hand and create a transatlantic bridge,” Menasé said. “We do this first for our portfolio companies born in Europe so they can expand there.”
But the founders do not just want to open a business development guard. It will increase a development fund that focuses on US investment. The idea here is to help its European partners invest in US technology companies through funders Future.
On the contrary, the company believes it can help US companies expand to Europe. Ownership of a European VC company on its table can be useful when it comes to navigation in the European Technology and Politics Landscape.
“We will start with humble targets, with investment tickets ranging between $ 5 and $ 10 million in growth rounds at least $ 50, $ 60 or $ 70 million,” Menasé said.
The raising of funds has not yet begun for this fund, but the founders of future hopes can increase up to $ 250 million. And I will not be surprised if MACSF, the Dassault family and the CMA CGM Group end up investing in this US -focused development fund, except Future Future portfolio.
