Born in 2020 at the initiative of former students of the École Polytechnique, Polytechnique Ventures embodies a new generation of investment funds built on the “alumni” model. Its objective: to transform the academic link into innovation capital.
The idea of the fund comes back to Denis Lucquin (X77)ancient managing partner of Sofinnova Partnersand member of board of directors of the École Polytechnique for five years. It was during this period, while the school was strengthening its entrepreneurial initiatives, that he conceived the project of a fund capable of linking academic research to private investment. He surrounds himself with Cécile Tharaudformer director ofInserm Transfer Initiativeto co-build this vehicle, which will see the light of day in 2020 with the support of the Foundation of the School and an initial circle of alumni investors.
To talk about it, we receive it on the occasion of the creation of the 2nd fund.
Since its creation, Polytechnique Ventures has supported 18 young companies from research or the School’s ecosystem, in technologically intensive areas: health, carbon-free energy, robotics, sustainable materials, green finance. In four years, the fund has met more than 400 projects, invested in 18 companies And made two outings. An approach which illustrates the evolution of the role of major engineering schools, now direct players in the financing of French deeptech.
Polytechnique Ventures stands out for its circular governance : the capital is provided by former students — engineers, doctors, holders of a master’s degree or an executive program — and managed by Equitis Managementa company approved by the Financial Markets Authority. In return, 10% of the profits made are donated to the School Foundation. The fund thus combines search for performance and contribution to the ecosystemextending the academic mission with a patient and community capital model.
The approach is based on the proximity to the founding teams from the first stages of creation. Support goes beyond financing: it integrates mentoringTHE governance support and theopening of the industrial and scientific network of alumni. The founders of Reevwhich is developing a personalized motorized knee brace, and those of Galam Roboticsspecialized in the robotization of the logistics sector, cite this supervision as a decisive factor in their growth.
This model illustrates the emergence of a new category of actors : THE school fundheirs of American university traditions, which now structure a essential link in early stage financing In France. Next to Polytechnique Ventures, HEC Ventures, CentraleSupélec Ventures Or Generation powered by EDHEC participate in the construction of a academic venture capital based on loyalty, transmission and sharing of expertise.
Polytechnique Ventures today announces the launch of its second early stage fundequipped with a first closing at 21 million eurosin line with a final objective of 30 to 40 million. This Fund II will finance between 15 and 20 deeptech startups in pre-seed and seed, in the areas of excellence of the École Polytechnique: AI, climate, health and industry 4.0.
