Serena

Investment thesis

Serena is a Paris venture capital firm founded in 2008 by Marc Fournier, Philippe Hayat and Xavier Lorphelin. It writes first cheques of EUR 100,000 to EUR 15 million, from the earliest stages through to growth, and concentrates on applied artificial intelligence and the energy transition. Serena IV closed a first EUR 200 million in October 2025, following Serena III at EUR 300 million, the Racine2 impact fund at EUR 80 million and Serena Data Ventures, taking the firm past EUR 1 billion raised. It has backed more than 100 companies, among them Dataiku, Malt, Electra, Descartes Underwriting, Lifen and Pelico, and pairs its capital with a large in-house operating team.

Past investments