New Wave

New Wave leverages the extended network of its limited partners, which includes Benchmark's Peter Fenton, Coatue's Philippe Laffont, and Voodoo founder Alex Yazdi, as well as the broader Kima Ventures ecosystem anchored by Xavier Niel. The firm's London base places it proximate to one of Europe's densest concentrations of early-stage fintech and enterprise software founders. No proprietary sourcing platform or data-driven origination model has been publicly disclosed.

New Wave has not published an explicit exclusion list. The firm's generalist early-stage mandate and the backgrounds of its LP base suggest it avoids capital-intensive sectors such as hard industrial tech, biotechnology, and therapeutics. Its focus remains on capital-efficient software and internet-enabled business models.

New Wave was co-founded by Jean de La Rochebrochard, who was concurrently a managing partner at Xavier Niel's Kima Ventures, and was backed from inception by Niel himself. The two firms share DNA and some LP overlap but operate as separate entities with distinct investment teams. Kima remains one of the world's most active seed investors, while New Wave pursues a more concentrated portfolio under Pia d'Iribarne's direction.

New Wave actively facilitates co-investment through its LP network rather than by syndicating deals to outside managers. Portfolio companies are positioned to raise follow-on rounds from the firm's own limited partners — Benchmark, Coatue, DST Global — creating an internalized path to growth capital. The firm has not publicly marketed a co-investment program for external allocators.