FEBE Ventures’ title stands for “for entrepreneurs by entrepreneurs,” and true to kind, it’s persevering with to help seed-stage startups with the launch of its second fund. Concentrating on $75 million, Fund II is 2.5 occasions 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. Up to now, FEBE Ventures has backed greater than 35 firms, together with Locad, Zenyum, Tindle, Silverbird and Manatal. New members of its management staff embrace Nicolas El Baze, who was a normal companion at Partech and in addition based a number of startups, together with Microsoft-acquired Softway Programs; 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 centered on Southeast Asia, its second fund’s wide-ranging funding thesis is pre-seed and seed-stage firms throughout completely different geographies and sectors.
“We love B2B, however we additionally love healthcare. We love sustainability and local weather tech,” Raussin tells TechCrunch. “However we’re very people-driven, founder-centric and founder-driven. We at all times take into account that founders know finest, so we allow them to shock us and we’re more than pleased to find new industries and new themes.” Its typical test dimension might be round $250,000 for pre-seed startups and $750,000 for seed-stage firms.
FEBE II will nonetheless make investments quite a bit in Southeast Asia, Raussin says, however one of many causes it’s taking a extra world method is due to new collaborations that increase its community all over the world.
FEBE Ventures’ staff
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 numerous nations, 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 put money into extra firms all over the world, 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 staff are former entrepreneurs who, between them, have launched dozens of firms and labored as traders all over the world, Raussin says. In backing startups, they search for the sort of providers and merchandise they dreamed of after they had been beginning firms.
That additionally influences the best way they work together with founders, he provides. “We attempt to be very candid and genuine and share with a number of humility the errors we’ve accomplished prior to now to ensure that them to avoid wasting time. We even have a mindset of constructing sustainable companies that generate EBITDA and revenue in the long term.”
FEBE Ventures and Tekton Ventures determined to work collectively as a result of each have world funding theses. “We’re very geographically complementary and that’s the reason we determined to craft these unique and long-term partnerships to work along with the co-investment scheme,” Raussin says. “We might be sharing our deal movement and co-investing collectively.”
By way of FEBE Ventures’ collaboration with Otium Capital, Raussin stated, “[Stérin] reached $1.4 billion ranging from scratch, so he’s actually additionally an entrepreneur. We share the identical human values and the identical entrepreneurial mindset, and we collaborate nicely collectively.”