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
| Company | Round | Date | Round size |
|---|---|---|---|
| Voltaback | - | Oct 2026 | €2.8M |
| Quandela Massy, France | Series B | Nov 2023 | €50M |
| Pelico Paris, France | Series A | Nov 2022 | €17.8M |
| Electra Paris, France | Seed | Jun 2021 | €15M |
| Memo Bank Paris, France | Series A | Jun 2021 | €13M |
| Silvr Paris, France | Seed | Mar 2021 | €3M |
| Libeo Paris, France | Series A | Feb 2021 | €20M |
| Kili Technology Paris, France | Seed | Jan 2021 | €5.7M |
| Descartes Underwriting Paris, France | Series A | Sep 2020 | €15.6M |
| Accenta Boulogne-Billancourt, France | Seed | Oct 2019 | €4.7M |
| Odaseva Paris, France | Series A | Feb 2019 | €10.2M |
| iBanFirst Brussels, Belgium | Series B | Nov 2018 | €15M |
| Lifen Paris, France | Series A | Mar 2018 | €7.5M |
| Malt Paris, France | Series A | Dec 2016 | €5M |
| Evaneos Paris, France | Series C | May 2016 | €18M |
| Dataiku Paris, France | Seed | Dec 2014 | €3M |