FAN fund

FAN is a venture capital fund focused on early-stage start-ups. It backs French digital technology start-ups with high growth potential aiming to become global market leaders.


FAN invests between €1m and €10m alongside VCs in Series A and B rounds ranging from €2m to €25m with the ability to participate in follow-on rounds of financing. The team focuses on Deep Tech, SaaS and Consumer Digital Services investment opportunities.

Success stories:

• Netatmo develops ground-breaking connected consumer electronics that helps users make their homes smarter. FAN invested in the seed round in May 2013 and supported the company in its quest for strategic industrial partnerships. In 2015, Netatmo managed to partner with Legrand, the global specialist in electrical and digital building infrastructures. In November 2018, Legrand accelerated its IoT strategy by acquiring Netatmo. 

• OpenClassRooms is the leading European online education platform. FAN invested in the Series B round in July 2016. At the time, the company was pivoting to a new model to serve both students and enterprises. The strong growth generated by this new strategy attracted renowned investors such as General Atlantic who led the $60m Series C round in May 2018. OpenClassRooms is now well positioned to become the global market leader.


Veronique Jacq

Managing Director of Digital Investment Unit at Bpifrance

Mail :

  • Launched

    in 2011

  • 43

    deals as of Dec. 2018 for a total amount of €205 million