Breega, a VC firm based in Paris, has announced the final closing of its third fund. The firm has managed to raise $130 million (€110 million).
This is Breega’s third fund and is officially called Breega Capital Venture 3. The firm’s previous fund launched in 2015 with €45 million ($53 million at today’s exchange rate).
Breega doesn’t focus on a vertical in particular. It says it can invest across many different categories, such as marketplaces, SaaS, agtech, HR tech, robotics, etc.
The investment team has already deployed some of the capital of Breega’s new fund. Portfolio startups include Stations-e, Trustpair, IoTerop, BeOp, Otodo, Humanity, Alice&Bob, Neobrain, Didomi, Ubble, Ponicode and reciTAL. They all have received some funding at the seed or Series A stage.
Breega believes it can support its portfolio companies with some operational help. The firm has its own team of experts when it comes to HR, business development, communications, legal and finance.
Some of the fund’s limited partners include entrepreneurs-turned-business-angles. For instance, Patrick Asdaghi, the co-founder of FoodChéri, has invested in the new fund. FoodChéri received some funding from Breega before getting acquired by Sodexo.
Other limited partners include Bpifrance, the European Investment Fund, Isomer Capital and several banks and insurance companies.