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ISAI operates as a multi-stage investment firm, positioning itself as the French Tech Entrepreneurs’ Fund. It deploys capital and strategic support across various investment stages, including early-stage venture capital, corporate venture capital, growth and buyout, and growth lending. This approach leverages the collective experience of seasoned tech entrepreneurs to nurture promising technology companies.
The firm was founded in 2009 by a group of prominent tech entrepreneurs, including Pierre Kosciusko-Morizet (PriceMinister), Geoffroy Roux de Bezieux (Notus Technologies), Ouriel Ohayon (ZenGo), Stéphane Treppoz (Sarenza), and Christophe Raynaud, with Jean-David Chamboredon later joining to help build out the investor base. Their founding insight centered on creating an investment vehicle "by entrepreneurs for entrepreneurs," aiming to provide a highly useful and supportive fund through shared operational experience.
ISAI primarily serves technology companies, focusing on French startups and growth-stage firms seeking not only capital but also experienced mentorship. Its vision is to cultivate new French Tech champions by offering a unique blend of funding and strategic guidance, connecting portfolio companies with a vast network of successful entrepreneurs. The firm’s name, meaning "remarkable, outstanding" in Japanese, reflects its ambition for the ventures it supports.
Key people at ISAI.
ISAI is a pioneering French venture capital firm often described as “the French Tech Entrepreneurs’ Fund.” Founded in 2009, its mission is to back bold, tech-driven entrepreneurs building the next generation of European and global digital champions. ISAI operates at the intersection of entrepreneurship and capital, leveraging deep operational experience from its founder-entrepreneurs to support startups from pre-seed through growth stages.
The firm’s investment philosophy centers on backing disruptive digital startups—both B2B and B2C—with at least one French founder, primarily in Europe and the U.S. ISAI focuses on early-stage technology, media, and consumer sectors, with strong exposure to SaaS, AI, fintech, marketplaces, and deep tech. Known for backing breakout successes like BlaBlaCar, Doctolib, Qonto, and 360Learning, ISAI has become a cornerstone of the French and European startup ecosystem, helping founders scale from idea to international impact.
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ISAI was founded in 2009 by a group of successful French tech entrepreneurs, including Pierre Kosciusko-Morizet, Geoffroy Roux de Bézieux, and Stéphane Treppoz. Their vision was to create a fund that truly understood founders—because it was built by them. Rather than a traditional institutional VC, ISAI was designed as a “fund of entrepreneurs, for entrepreneurs,” pooling capital from over 300 fellow founders and tech leaders who became limited partners.
From the start, ISAI positioned itself as a hands-on, founder-friendly partner, offering not just capital but mentorship, strategic guidance, and access to a powerful network. Over time, the firm evolved from a pure early-stage VC into a multi-strategy investment platform, expanding into late-stage venture, private debt, and growth/buyout investments while maintaining its core DNA of entrepreneurial alignment. With headquarters in Paris and a growing presence in New York, ISAI has played a key role in shaping the French Tech movement and helping European startups go global.
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Entrepreneur-Led, Founder-First DNA- Majority-owned by its employees and backed by a syndicate of 300+ tech entrepreneurs, ISAI aligns incentives with founders.- Partners are former operators and founders themselves, bringing real-world scaling experience to portfolio companies.
Flexible, Multi-Stage Capital- Invests from pre-seed to Series A, with early-stage tickets from €100k to €3M and larger growth checks up to €30M.- Operates multiple funds, including ISAI Venture (early-stage) and ISAI Cap Venture (enterprise software, €1M–€5M checks), allowing tailored support across stages.
Strong Network & International Reach- Deep ties to the French Tech ecosystem and a growing U.S. presence via its NYC team, which helps portfolio companies launch and scale in North America.- “Super Angel” model: combines business angel agility with institutional expertise and network access.
Proven Track Record & Portfolio Power- Backed iconic European startups like BlaBlaCar, Doctolib, Qonto, 360Learning, Evaneos, and Malt.- Portfolio companies have achieved multiple unicorns and successful exits, reinforcing ISAI’s reputation as a top-tier early-stage investor.
Hands-On Operating Support- Provides strategic advice, go-to-market support, and talent access, not just capital.- Actively helps founders with international expansion, particularly into the U.S., through its dedicated NYC team.
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ISAI sits at the heart of the European tech renaissance, riding the wave of digital transformation across industries. As Europe has matured into a credible alternative to Silicon Valley for tech innovation, ISAI has helped prove that world-class startups can be built and scaled from Paris and other European hubs.
The firm benefits from strong macro tailwinds: rising founder ambition, increased institutional appetite for European tech, and growing cross-border collaboration between European and U.S. ecosystems. ISAI’s focus on founder-friendly terms, operational support, and international expansion aligns perfectly with the needs of today’s global-first startups.
Beyond capital, ISAI plays a cultural role in the ecosystem: it reinforces the idea that successful entrepreneurs should reinvest in the next generation, creating a self-sustaining cycle of innovation. Its model has inspired similar founder-led funds and helped professionalize the European VC landscape while keeping a strong emphasis on founder empowerment.
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Looking ahead, ISAI is well-positioned to remain a leading force in European venture capital. As more European startups aim for global scale from day one, ISAI’s dual presence in Paris and New York, combined with its founder-centric approach, will continue to attract top-tier entrepreneurs.
The firm is likely to deepen its focus on AI, fintech, and enterprise SaaS, while also exploring emerging opportunities in Web3, climate tech, and deep tech. Its multi-fund structure gives it flexibility to back startups at every stage—from the earliest idea to growth and buyout opportunities.
In the broader context, ISAI’s evolution reflects a maturing European tech ecosystem: one that is increasingly confident, well-funded, and globally competitive. As long as bold founders keep emerging from Europe, ISAI will likely remain one of the go-to partners for those aiming to build the next BlaBlaCar or Doctolib.
Key people at ISAI.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Mar 5, 2026 | PASQAL | $395.6M Other Equity | — | CMA CGM, Daphni, EIC Fund, LG Electronics, Parkway Venture Capital, Quanta Computer, Saudi Aramco, Temasek |
| Feb 10, 2026 | Naboo | Naboo Series B | Lightspeed Venture Partners, Antoine Moyroud, Nicole Quinn | Itxaso del Palacio, PhD, Rodrigue Leroy |
| Feb 9, 2026 | Naboo | $70.0M Series B | Lightspeed Venture Partners | Isai, Notion Capital, Ternel |
| Jan 27, 2026 | GoCanopy | $2.5M Seed | ISAI | — |
| Nov 17, 2025 | Leanspace | $11.6M Series A | — | Arnaud Guérin, 42CAP, Bpifrance, Caisse d'Epargne, Capgemini, Karista, Qwaltec |
| Sep 1, 2025 | Temelion | $4.0M Seed | 360 Capital Partners | Canaan Partners Israel, OurCrowd, Chaim Meir Tessler, kobi marenko, Kima Ventures, SE Ventures |
| Apr 1, 2025 | Fairly Made | $16.0M Series A | — | Aglae Ventures, LeFonds |
| Mar 7, 2025 | Flowdesk | $102.0M Other Equity | — | Marten Vading, Cathay Innovation, Eurazeo, Alexander Joel-Carbonell |
| Feb 1, 2025 | Neuralk-AI | $4.0M AI - Seed | — | Motier Ventures |
| Jan 1, 2025 | Keey Aerogel | $19.0M Series A | Bpifrance, Thierry Vandewalle | Serena Capital, Frédéric Mazzella |
| Dec 1, 2024 | Wecasa | $19.0M Series B | — | 50 Partners Impact, DN Capital, Serena Capital, Frédéric Mazzella |
| Dec 1, 2024 | GROWL | $5.0M Seed | — | EQT Ventures, Sequoia Capital, Y Combinator, Charles Gorintin |
| Nov 1, 2024 | Pruna AI | $7.0M Seed | EQT Ventures | AirAngels, Entrepreneur First, General Catalyst, Moonfire Ventures, Motier Ventures, Speedinvest, Charles Gorintin, Jean Charles Samuelian, Mathilde Collin, Riccardo Zacconi, Roxanne Varza, Sebastian Knutsson, Simon Dawlat, Thomas Rebaud, Varsha Rao |
| Sep 1, 2024 | Dntro | $800K Seed | — | Founders Future, XAnge, Alexandre Prot, Didier Valet, Maxime Paradis, Raphael Vullierme, Steve Anavi |
| Aug 1, 2024 | Stori | $110.0M Venture Round | — | 305 Ventures, Alpine Ventures, Bertelsmann Asia Investments (BAI), CapitalG, Concept Ventures, General Catalyst, Goodwater Capital, Igah Ventures, Infinity Ventures Crypto, Lightspeed Venture Partners, Maven Capital Partners, Glenn Solomon, Notable Capital, Playfair Capital, Redpoint Ventures, Red Sea Ventures, Andrew Steinwold, David Haywood Smith, David Mytton, Fernando Gadotti, Guilherme Weege, Jeremy Yap, Josh Elman, Klaus Nyengaard, Matteo Gamba, Michael Moritz, Paul Yacoubian, Renato Freitas, Sahil Lavingia, Siddharth Singhal, Suhail Doshi |
| Jul 1, 2024 | Cognyx | $2.0M Seed | Bpifrance | 50 Partners, Autotech Ventures, Kima Ventures, Motier Ventures, Pareto Holdings, Redpoint Ventures, Emmanuel Seuge, Thibaud Elziere |
| Jun 1, 2024 | Substrate | $8.0M Seed | Lightspeed Venture Partners | 2048 Ventures, Andreessen Horowitz, Anti fund, CRV, Jenny Fielding, Scott Hartley, Founders Fund, General Catalyst, Glenn Solomon, Hans Tung, Redpoint Ventures, Red Sea Ventures, Y Combinator, Amjad Masad, Barr Moses, Gokul Rajaram, Guillermo Rauch, Immad Akhund, Josh Elman, Matt Brezina, Paul Yacoubian, Sahil Lavingia, Suhail Doshi |
| May 1, 2024 | Patronus AI | $17.0M Series A | Notable Capital | 10D, Eclipse Ventures, Haun Ventures, Lightspeed Venture Partners, Glenn Solomon, Hans Tung, Redpoint Ventures, Red Sea Ventures, Amjad Masad, Barr Moses, Gokul Rajaram, Josh Elman, Pankaj Patel, Paul Yacoubian, Sahil Lavingia, Suhail Doshi, Yair Weinberger, Aparna Sinha, Jason Warner, Jonathan Frankle, Michael Callahan, Nadim Hossain, Tristan Handy, Datadog, Factorial Capital |
| Feb 4, 2024 | Naboo | $8.1M Other Equity | — | Better Angle, CapHorn Invest, Francois Collet, Kima Ventures, MAIF Avenir |
| Jan 22, 2024 | Hiboo | $10.1M Series A | — | Oliver Mougenot, Emerald Technology Ventures, Future Industry Ventures, Arnaud de Scorbiac, Nabtesco Technology Ventures, Laurent Babut |
| Jan 21, 2024 | Flowdesk | $50.0M Series B | Denis Barrier | Burda Principal Investments, Thomas Turelier, Ripple, Speedinvest |
| Dec 1, 2023 | Catio | $3.0M Seed | — | Alumni Ventures, Angel Labs, Array Ventures, Brighter Capital, DCM, ENIAC Ventures, Kamran Ansari, Jefferies, Lerer Hippeau, Ludlow Ventures, Precursor Ventures, Rally Ventures, RRE Ventures, Silicon Badia, Mark Ghermezian, Ahmed Mhiri, Headline (formerly e.ventures), Trust Ventures |
| Dec 1, 2023 | ecoworks | $45.0M Series A | World Fund | Atomico, DST Global, EQT Ventures, Kompas VC, Lifeline Ventures, Ten Eleven Ventures, Haniel |
| Nov 16, 2023 | blackshark.ai | $15.0M Series A Extension | Samir Kumar | Lucia Sinapi-Thomas, Einstein Industries Ventures, Gaingels, In-Q-Tel, M12, Maxar, OpAmp Capital, OurCrowd, Point72 Ventures, ROBO Global Ventures, Florent Illat |
| Nov 2, 2023 | Koyeb | $7.0M Other Equity | Bertrand Diard | Alexis Le-Quoc, Amirhossein Malekzadeh, Fabrice Bernhard, Hank Vigil, Justin Ziegler, Marc Jalabert, Philippe Besnard, Robin Vasan, Udi Nachmany, Zachary Smith, MongoDB Ventures, Raise Sherpas, Samsung Next |