Go Paul or go home
We have been too passive in promoting the tech ecosystem in recent years, and it’s time to change that. ✊ We are excited to announce that Paul Bazin, officially partner at daphni, but unofficially our expert in hair innovation, has applied to join the board of France Digitale to represent daphni
When Paul joined daphni in 2016, with a hairstyle as bold as his ideas, the French ecosystem was not what it is today. Back then, French startups raised about $2.7 billion, while Europe raised $16.2 billion, the United States $72.3 billion, and the world $127.2 billion. In 2023, fundraising in France reached $9.2 billion (20% of European fundraising), placing France second in Europe after the UK and ahead of Germany. 🥈
With annual growth approaching 20% over this period, the French ecosystem is booming. This success is illustrated by the emergence of international champions from this ecosystem, such as Back Market, Swile, and Pasqal, which we have supported since their inception.
However, there is still much to do to showcase our innovations and help the emergence of global champions necessary for Europe’s future. The amounts raised are just an indicator of our ecosystem’s growing ambition. We must educate large European companies on innovation through M&A and proper integration of innovative topics. We also need a European public market. For this, it is essential to work on harmonizing legal and funding structures with different ecosystems. France Digitale is naturally the flag bearer of the French ecosystem in these discussions. 🚩
Valuing innovations and successes is important, but we also need to ask how to make them emerge. Being an entrepreneur is one of the toughest jobs. Our role as investors is to support them in the best way possible. This involves a better understanding of the different existing issues of various stakeholders. As VCs, we hold a central position. Our role is thus that of a harmonizer, amplified by France Digitale’s work with all stakeholders.
Our ecosystem must continue to innovate and ask the right questions about the very future of European innovation. Will this ecosystem continue to be driven in the next 10 years by SaaS and marketplace models, or should we consider how to bring forth the models that will be tomorrow’s successes? Should the role of VCs return to financing semiconductors and breakthrough technologies?
Finally, innovation requires an open mind. Our ecosystem would greatly benefit from being more inclusive, whether in funds or startups. 🔥
With Paul on the board of France Digitale, we are determined to play an active and significant role in this new phase of growth and innovation. Together, let’s bring forth the champions of tomorrow!
And if you also want Paul to go to the hairdresser to cut his blonde locks, vote for him. He has committed to doing it if he wins!
Da yours,
