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VC FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 27 SOURCES

Phitrust

Also known as Phitrust SA, Phitrust SAPO, Phitrust Partenaires, Phitrust Impact Investors

Paris impact manager founded 2003 by Olivier de Guerre and Denis Branche; social-enterprise investment companies (Phitrust Partenaires, €60M PPI fund) and listed shareholder-engagement funds.

HEADQUARTERS
Paris, France
FOUNDED
2003
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
9 people

Focus

STAGES
SeedSeries AGrowth
SECTORS
EducationConsumer & E-commerceReal Estate & PropTechFintechHealthTechFood & Agriculture
ASSET MIX
Venture capitalImpactPublic equities
GEOGRAPHY
EuropeFranceAsia-Pacific

Investment arms & vehicles

Overview

Phitrust is a Paris portfolio management company founded in 2003 by Olivier de Guerre and Denis Branche, with two activities: shareholder-engagement funds invested in listed French and European companies, and social impact investment in unlisted companies. Since 2006 it has run, with private and institutional investors, the Phitrust Partenaires investment companies, which invest €200K–€2M in European social enterprises; the third, Phitrust Partenaires Inclusion, closed at €60M in February 2026 with the EIF (€20M), Mirova, Crédit Mutuel, Malakoff Humanis, MGEN, Cofides, Ethias and others. It reports more than 45 social enterprises financed and €40M invested. It became a société à mission in 2021 and a société à participation ouvrière in 2023.

Investment thesis

Social enterprises centred on human capital and inclusion: job integration, disability inclusion, training and education, and access to essential goods and services (sustainable food, housing, energy poverty, financial inclusion, social support, health).

PORTFOLIO (15)

  • SimplonNOTABLE
    Education
  • Novétape
    Real Estate & PropTech · since 2026
  • Lemon Tri
    Climate & Energy
  • Les Alchimistes
    Climate & Energy
  • Alenvi
    HealthTech
  • Lita.co
    Fintech
  • BeCode
    Education
  • United Repair Centre
    Consumer & E-commerce
  • Homes4All
    Real Estate & PropTech
  • Koiki
    Consumer & E-commerce
  • Laiterie du Berger
    Food & Agriculture
  • PerMicro
    Fintech
  • Envie Rhône-Alpes
    Consumer & E-commerce
  • Groupe Estille
    Consumer & E-commerce
  • Kajou
    Education

People

  • Olivier de Guerre
    Co-founder, Chairman and CEO · source
  • Denis Branche
    Co-founder, Vice-Chairman and Fund Manager · source
  • Stéphanie de Beaumont
    Deputy CEO · source
  • Xavier Thauron
    Associate Director · source
  • Cyrille Langendorff
    Associate Director · source
  • Gaëtan Herinckx
    Associate Director; Chairman, Phitrust Benelux · source
  • Iléana Beluche
    Investment Director (Directrice de participations) · source
  • Danaé Becht
    Investment Director (Directrice de participations) · source
  • Henri de Reboul
    CEO, Phitrust Asia · source

Links

Frequently asked questions

Phitrust is a VC fund based in Paris, France, founded in 2003.

Yes. Phitrust invests its own capital in private companies.

Phitrust invests at Seed, Series A and Growth stages in Education, Consumer & E-commerce, Real Estate & PropTech, Fintech, HealthTech and Food & Agriculture.

Phitrust's stated ticket size is €200K–€2M.

Key people at Phitrust include Olivier de Guerre (Co-founder, Chairman and CEO), Denis Branche (Co-founder, Vice-Chairman and Fund Manager), Stéphanie de Beaumont (Deputy CEO) and Xavier Thauron (Associate Director).

Phitrust's investments include Simplon, Novétape, Lemon Tri, Les Alchimistes, Alenvi, Lita.co, BeCode and United Repair Centre, among others.

The most recent publicly reported investment by Phitrust is Novétape (€13.6M raise of the solidarity property company (Phitrust Partenaires Inclusion participating with BNP Paribas AM, Amundi, Mirova, Crédit Mutuel AM, Ecofi and MAIF Habitat)), announced in May 2026.

Yes. Phitrust manages capital from outside investors.