VC FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 12 SOURCES

Daphni

Also known as daphni, DAPHNI SAS

Paris early-stage venture capital firm founded in 2016; runs the Blue science-based European fund, the Dastore commerce fund and the Time4 fund; close to €1bn under management (2026).

HEADQUARTERS: Paris, France
FOUNDED: 2016
AUM: €1B (2026)
OUTSIDE CAPITAL: Yes
TEAM LISTED: 12 people

FOCUS

STAGES: SeedSeries A
SECTORS: Artificial Intelligence Deep Tech Climate & Energy Biotech & Life Sciences Consumer & E-commerce Software & SaaS
ASSET MIX: Venture capitalImpact
GEOGRAPHY: EuropeFrance

WHAT IT IS

VC Fund. A fund manager investing capital raised from limited partners into startups.

Dastore
€80M fund launched in 2022 for future-of-commerce startups worldwide, supported by Carrefour

ABOUT

Daphni is a Paris portfolio management company, registered with the AMF on 28 January 2016 (GP-16000002), co-founded by Pierre-Eric Leibovici and Pierre-Yves Meerschman. It invests early in European technology startups across AI, deeptech, climate, commerce, health and enterprise software, and has backed more than 100 startups with 20+ exits. Its active funds are Blue (2025, science-based European startups, successor to Purple 2016 and Yellow 2020), Dastore (2022, commerce, supported by Carrefour) and Time4 (2026, founders from underrepresented backgrounds in France). It is a B Corp and mission-driven company.

INVESTMENT THESIS

Backs startups with a positive social and environmental impact, especially those with a strong science angle in biology, chemistry, physics, mathematics and life sciences; Blue targets about 40 startups tackling sustainability challenges.

PORTFOLIO (12)

Back MarketNOTABLE
Consumer & E-commerce · since 2017
SwileNOTABLE
Fintech · since 2016
PasqalNOTABLE
Deep Tech
Astral Systems
Deep Tech · since 2026
AMI Labs
Artificial Intelligence · since 2026
TerraSpark
Climate & Energy · since 2026
Generare
Biotech & Life Sciences · since 2026
baCta
Biotech & Life Sciences · since 2026
Sereact
Artificial Intelligence · since 2026
Logbook
Education · since 2026
Pruna AI
Artificial Intelligence
Hubcycle
Food & Agriculture · since 2021

TEAM

Pierre-Eric Leibovici
Co-founder & Managing Partner · source
Pierre-Yves Meerschman
Co-founder & Managing Partner · source
Paul Bazin
Partner · source
Sofia Dahoune
Partner · source
Samir Matki
Partner · source
Shabir Vasram
Partner · source
Alexandra Dubar
Partner · source
Sauvanne Saint-Léger
Partner & Investor Relations · source
Claire Tanguy
Partner & Chief Legal Officer · source
Aurelie Van Peteghem
Partner & Chief Marketing Officer · source
Etienne Renoux
Chief Financial Officer · source
Marc Simoncini
Venture Partner · source

FAQ

Daphni is a VC fund based in Paris, France, founded in 2016.

Yes. Daphni invests directly in private companies.

Daphni invests at Seed and Series A stages in Artificial Intelligence, Deep Tech, Climate & Energy, Biotech & Life Sciences, Consumer & E-commerce and Software & SaaS.

Key people at Daphni include Pierre-Eric Leibovici (Co-founder & Managing Partner), Pierre-Yves Meerschman (Co-founder & Managing Partner), Paul Bazin (Partner) and Sofia Dahoune (Partner).

Daphni's investments include Back Market, Swile, Pasqal, Astral Systems, AMI Labs, TerraSpark, Generare and baCta, among others.

The most recent publicly reported investment by Daphni is Astral Systems (£23M Series A led by Mercia Ventures (participant)), announced in Jun 2026.

Yes. Daphni manages capital from outside investors.