École Polytechnique Alumni Fund Secures €21 Million for Deep Tech Startups

University Venture Fund Gains Momentum

Polytechnique Ventures, the alumni investment vehicle of France’s prestigious École Polytechnique engineering school, has reportedly secured €21 million toward a new fund targeting university-affiliated entrepreneurs, according to sources familiar with the matter. The fund is said to be aiming for a final close between €30 million and €40 million as it continues to attract backing from the school’s distinguished alumni network.

University Venture Fund Gains Momentum
Focus on Deep Tech Innovation
Alumni Network as Strategic Advantage
European Alumni Fund Landscape

Focus on Deep Tech Innovation

The venture firm specifically targets early-stage startups connected to École Polytechnique through founder alumni status, technology spun off from university laboratories, or companies that have progressed through the school’s X-Novation Center incubator program. Sources indicate the fund will deploy capital across 15-20 pre-seed and seed stage companies, with initial investments ranging from €250,000 to €1 million and follow-on funding potentially reaching €2 million per company at Series A stage.

Analysts suggest the fund’s strategy centers on deep technology sectors including healthcare, energy transition, artificial intelligence, fintech, and industrial innovation. This focus reportedly leverages the technical expertise within the École Polytechnique ecosystem and aligns with the increasing emphasis on entrepreneurship at the institution.

Alumni Network as Strategic Advantage

According to reports, the fund originated from growing demand among École Polytechnique graduates seeking to support the next generation of entrepreneurs from their alma mater. Cécile Tharaud, CEO of Polytechnique Ventures, stated that the initiative developed organically as alumni expressed desire to contribute while the school simultaneously expanded its entrepreneurship programs.

“They wanted to contribute […] At the same time the school was increasing its focus on entrepreneurship,” Tharaud was quoted as saying. “It happened quite organically.”, according to recent innovations

The venture firm’s first €36 million fund has already been deployed across portfolio companies including H Company (AI agents), Jimmy Energy (nuclear micro-reactors), and Gobano Robotics (AI-powered robotics). Reports indicate the initial fund attracted 160 alumni backers, primarily from financial services, industrial, and entrepreneurial backgrounds.

European Alumni Fund Landscape

Polytechnique Ventures represents part of a growing trend of university-affiliated venture funds in Europe, though analysts note this model remains more established in the United States. Tharaud acknowledged that alumni-focused investment vehicles are less mature in Europe compared to operations like Alumni Ventures in the U.S., which manages nearly 30 university-connected funds.

France currently hosts three other significant alumni venture funds associated with HEC, CentraleSupélec, and EDHEC business school. According to industry observers, the demonstrated success of Polytechnique Ventures’ initial fund suggests the model is gaining traction in the European investment landscape.

“After five years we’ve shown the concept works,” Tharaud stated. “Before, we had to seek out more than 80% of our dealflow, now more than half the deals come to us.”

The fund’s leadership emphasizes that their connection to École Polytechnique’s research community and network of accomplished alumni provides distinct advantages in evaluating technical startups and providing mentorship to portfolio companies. This specialized approach to deep tech investing appears to be resonating with both entrepreneurs and investors as the model establishes itself in the European venture ecosystem.

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