Ventech

Managing Partner Jean Bourcereau leads the firm, supported by a partnership group distributed across Europe. Founder Alain Caffi remains involved as Senior Advisor but is no longer in the day-to-day investment decision chain. The firm has rotated leadership to a second- and third-generation partnership group, a transition that the January 2025 team promotion announcement made explicit.

The firm relies on a multi-local structure. Partners operate from full offices in Paris, Munich, Helsinki, and Stockholm, each embedded in local founder and university ecosystems. This design deliberately avoids centralizing sourcing in Paris and gives Ventech early visibility into Nordic, German, and French software companies at the seed stage.

Yes. Ventech Health is a sector-dedicated fund focused on digital health investments, operating under the same partnership umbrella. The multi-fund architecture allows the firm to pursue domain-specific deal flow — particularly in regulated healthtech markets — without crowding the flagship fund's generalist allocation.

Ventech invests from seed through Series C, with initial checks typically between €1M and €10M. The firm reserves significant capital for follow-on investments in portfolio companies that reach growth-stage inflection points. Stage focus adjusts by geography: earlier-stage entry is more common in the Nordics and Germany, while later-stage rounds in France may be co-led with other European VCs.

Believe, the Paris-based digital music distribution platform backed by Ventech, completed its Euronext IPO in 2021. Ogury, a mobile advertising technology company, is also publicly traded on Euronext. These two exits represent the firm's highest-profile public-market outcomes in recent years (public record).

Ventech maintains a Shanghai office, distinct from its European funds, and historically operated a dedicated China vehicle. The China practice focuses on technology and consumer investments in the domestic Chinese market rather than serving as a bridge for European portfolio companies expanding to Asia. The China team operates with a degree of autonomy from the European partnership (public record).

Ventech syndicates regularly with other European venture firms and welcomes co-investors in later-stage rounds where the capital requirement exceeds the flagship fund's concentration limits. The firm does not operate a formal co-investment vehicle for its limited partners but has structured SPVs on a deal-by-deal basis for specific LP co-investment demand (public record).