FEBE Ventures’ identify stands for “for entrepreneurs by entrepreneurs,” and true to kind, it’s persevering with to assist seed-stage startups with the launch of its second fund. Concentrating on $75 million, Fund II is 2.5 instances bigger than FEBE’s first fund and 90% has already been dedicated. As a part of the launch, FEBE Ventures additionally introduced a co-investment partnership with Tekton Ventures.
FEBE Ventures was co-founded in 2019 by managing accomplice Olivier Raussin. To date, FEBE Ventures has backed greater than 200 firms, together with Native, Zenyum, Tindle, Silverbird and Manatal. New members of its management workforce embody Nicolas El Baze, who was a common accomplice at Partech and in addition based a number of startups, together with Microsoft-acquired Softway Techniques; tech entrepreneur and angel investor Aditya Pendyala; and Tekton Ventures managing accomplice Jai Choi.
Fund II’s anchor investor is Otium Capital, a world household workplace based by Pierre-Edouard Stérin, a serial entrepreneur whose startups embody Smartbox Group. Otium Capital, which additionally backed FEBE Ventures’ first fund, manages $1.4 billion AUM in 100 investments and has seen greater than 25% IRR because it was began.
Whereas FEBE Ventures’ first fund targeted on Southeast Asia, its second fund’s wide-ranging funding thesis is pre-seed and seed-stage firms throughout totally different geographies and sectors.
“We love B2B, however we additionally love healthcare. We love sustainability and local weather tech,” Raussin tells TechCrunch. “However we’re very people-driven, founder-centric and founder-driven. We all the time contemplate that founders know greatest, so we allow them to shock us and we’re very happy to find new industries and new themes.” Its typical test measurement will likely be round $250,000.
FEBE II will nonetheless make investments lots in Southeast Asia, Raussin says, however one of many causes it’s taking a extra international method is due to new collaborations that develop its community world wide.
Febe Ventures’ new accomplice Tekton Ventures is the San Francisco-based tech funding arm of Partech founder Vincent Worms’ household workplace. Choi led its investments in unicorns in several international locations, together with Coupang, Toss, Merman, Newports, Flutterwave and Signifyd. The partnership will allow FEBE Ventures and Tekton Ventures to share their networks in Southeast Asia, Silicon Valley, Latin America and Europe and spend money on extra firms world wide, particularly in rising economies.
The partnership will see Choi and El Baze tackle roles as accomplice and enterprise accomplice, respectively, at FEBE Ventures.
All 4 members of FEBE Ventures’ management workforce are former entrepreneurs who, between them, have launched dozens of firms and labored as buyers world wide, Raussin says. In backing startups, they search for the sort of companies and merchandise they dreamed of once they have been beginning firms.
That additionally influences the way in which they work together with founders, he provides. “We attempt to be very candid and genuine and share with lots of humility the errors we’ve finished up to now to ensure that them to save lots of time. We even have a mindset of constructing sustainable companies that generate EBITDA and revenue in the long term.”
FEBE Ventures and Tekton Ventures determined to work collectively as a result of each have international funding theses. “We’re very geographically complementary and that’s the reason we determined to craft these unique and long-term partnerships to work along with the co-investment scheme,” Raussin says. “We will likely be sharing our deal circulate and co-investing collectively.”
By way of FEBE Ventures’ collaboration with Otium Capital, Raussin stated, “[Stérin] reached $1.4 billion ranging from scratch, so he’s actually additionally an entrepreneur. We share the identical human values and the identical entrepreneurial mindset, and we collaborate nicely collectively.”