In brief: Revaia holds €150m first close, confirms London office plans

The female-founded VC firm has already made three investments from its second fund.

Revaia, Europe’s largest female-founded and female-led venture capital firm, has announced a first close of its second fund on €150 million.

Revaia Growth II was launched in 2022, and continues the firm’s strategy of investing in sustainable European tech companies. LPs include Bpifrance, European Investment Fund, Capssa, Carac and UMR Retraite. Fund one closed above target at €250 million in 2021.

Three investments have been made from fund so far, per the announcement. Revaia expects to add an additional 12 portfolio companies from Series B rounds onward.

The firm also confirmed its plans to open a London office early next year, adding to its headquarters in Paris and office in Berlin. The new outpost will be led by Morgan Kessous, who will relocate from Paris. New Private Markets first reported that the firm was opening in London earlier this year.

Revaia recently made a number of promotions within its 16-strong team, and last year appointed a head of sustainability, its former CFO Bettina Denis, and sustainability manager Anaïs Blare.