Elaia closes its third deep-tech seed fund at €134M

The Paris-based VC backed by Bpifrance and Université PSL has exceeded the €120M goal it set at first close in March 2024.

When Elaia first raised its third deep-tech seed fund in March 2024, the target was €120 million. The final figure has come in higher. The Paris-based venture capital firm has closed its DTS3 fund at €134 million, a 12 per cent overshoot that reflects both strong LP appetite for European deep tech and the firm’s long-cultivated position as the preferred backer of research-born startups.

DTS3, the third generation of Elaia’s dedicated deep-tech seed vehicle, is designed to back B2B startups at the earliest stages of company formation, writing tickets as small as €300,000. The strategy focuses on three broad technology pillars: computing (including generative AI, quantum, and cybersecurity), future of industry (energy, climate technology, and advanced materials), and life sciences.

Elaia plans to make approximately ...