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 companion Olivier Raussin. Thus far, FEBE Ventures has backed greater than 35 corporations, together with Locad, Zenyum, Tindle, Silverbird and Manatal. New members of its management workforce embrace Nicolas El Baze, who was a normal companion at Partech and likewise based a number of startups, together with Microsoft-acquired Softway Methods; tech entrepreneur and angel investor Aditya Pendyala; and Tekton Ventures managing companion Jai Choi.
Fund II’s anchor companion is Otium Capital, a global household workplace based by Pierre-Edouard Stérin, a serial entrepreneur whose startups embrace 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 corporations throughout completely different geographies and sectors.
“We love B2B, but we also love healthcare. We love sustainability and climate tech,” Raussin tells TechCrunch. “But we are very people-driven, founder-centric and founder-driven. We always consider that founders know best, so we let them surprise us and we are more than happy to discover new industries and new themes.” Its typical test dimension shall be round $250,000 for pre-seed startups and $750,000 for seed-stage corporations.
FEBE II will nonetheless make investments lots in Southeast Asia, Raussin says, however one of many causes it’s taking a extra world strategy is due to new collaborations that develop its community around the globe.
FEBE Ventures’ workforce
Febe Ventures’ new companion 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 corporations around the globe, particularly in rising economies.
The partnership will see Choi and El Baze tackle roles as Associate and Enterprise Associate, respectively, at FEBE Ventures.
All 4 members of FEBE Ventures’ management workforce are former entrepreneurs who, between them, have launched dozens of corporations and labored as buyers around the globe, Raussin says. In backing startups, they search for the form of companies and merchandise they dreamed of after they have been beginning corporations.
That additionally influences the way in which they work together with founders, he provides. “We try to be very candid and authentic and share with a lot of humility the mistakes we’ve done in the past in order for them to save time. We also have a mindset of building sustainable businesses that generate EBITDA and profit in the long run.”
FEBE Ventures and Tekton Ventures determined to work collectively as a result of each have world funding theses. “We are very geographically complementary and that is why we decided to craft these exclusive and long-term partnerships to work together with the co-investment scheme,” Raussin says. “We will be sharing our deal flow and co-investing together.”
By way of FEBE Ventures’ collaboration with Otium Capital, Raussin mentioned, “[Stérin] reached $1.4 billion starting from scratch, so he is really also an entrepreneur. We share the same human values and the same entrepreneurial mindset, and we collaborate well together.”
