C4 Ventures launches €100 million Fund III for Europe's next generation of AI and deep tech startups

C4 Ventures, a European VC led by technology operators, announces the launch of its third fund with a target volume of €100 million. With C4 Ventures III, the VC aims to make targeted early-stage investments in AI and deep tech companies in Europe and thus strengthen the continent's competitiveness in these future-oriented fields.

Tailwind for Europe's AI and deep tech ecosystem

Europe has a large market, a strong talent and research environment and a strong entrepreneurial spirit. C4 Ventures is convinced that these factors form the basis for a sovereign European AI and deep tech ecosystem. In this way, the company wants to make a decisive contribution to ensuring that Europe can keep pace with the global competition for technological leadership.

The AI revolution is bigger than any technological upheaval since the internet. We are on the cusp of a massive transformation that will redefine entire industries.

Pascal Cagni, founder and CEO of C4 Ventures

Focus on software and physical AI

C4 Ventures pursues a dual investment approach. Firstly, in software applications, where the majority of the market currently lies. Secondly, in physical AI, i.e. robotics and autonomous systems. C4 Ventures has been a pioneer in this area in particular since it was founded.

The company has proven expertise in the hardware sector and already has five unicorns in its portfolio. Its well-known investments include NEURA Robotics (cognitive robotics), Graphcore (AI processors), Alice & Bob and PsiQuantum (quantum computing) and, most recently, Arago (AI semiconductors). C4 Ventures thus successfully combines pioneering work in hardware with innovative software.

A fund by operators for founders

C4 Ventures sets itself apart from traditional VC firms with its operator approach. Founded by former Apple and Microsoft executives such as Pascal Cagni and Eric Boustouller, the team has decades of experience in building global tech companies. This is complemented by a network of over 30 active industry experts who provide portfolio companies with strategic know-how, operational support and access to leading decision makers.

C4 Ventures was founded with the vision that experienced tech operators should actively support founders with global aspirations. With Fund III, we are consistently transferring this vision into the AI age.

Boris Bakech, Co-Founder and Managing Director

Track record of success

Since its foundation in 2014, C4 Ventures has invested in 54 tech start-ups, 12 of which have achieved unicorn status. With more than 20 exits, including two IPOs on the NYSE (Riskified and Via) and seven acquisitions, C4 Ventures is one of the most successful European VC firms.

The second fund, launched in 2020, has significantly outperformed industry benchmarks and is already among the best quartiles of its peer group in terms of both performance and liquidity five years after launch.

C4 Ventures was founded in 2014 by former Apple and Microsoft managers and sees itself as a boutique venture capital fund that focuses on close mentoring and operational support for founders. The management team consists of Pascal Cagni (Founder & CEO, former VP Apple EMEIA), Boris Bakech (Co-Founder & Managing Partner), Eric Boustouller (former President Microsoft Western Europe), Michel Sassano (Partner & Tech Lead), Valère Rames (Partner, early-stage specialist for AI) and Mathieu Bourdié (Partner, CFO & Investor Relations). The best-known portfolio companies include Alice & Bob, Graphcore, Neura Robotics, PsiQuantum, Refurbed, Jus Mundi, Formlabs, Impulse Space, Riskified and Via