In brief: Revaia seeks first impact investments

The firm is looking to deploy 20% of its latest fund in impact, New Private Markets understands.

Revaia, Europe’s largest female-founded and female-led venture capital firm, is looking to deploy up to 20 percent of its latest fund in impact, New Private Markets understands.

Revaia Growth II was launched in 2022, and reached a first close on €150 million in December. LPs include Bpifrance, European Investment Fund, Capssa, Carac and UMR Retraite. Fund one closed above target on €250 million in 2021.

The firm invests in companies that “take sustainability seriously” according to its website, and actively encourages its portfolio to improve ESG performance, but until now has not pursued an impact strategy. Fund II has made three investments so far.

The 20 percent impact target is an internal one and is not reflected in the fund’s regulatory status, a source told NPM. Revaia declined to comment on the target, though sustainability head Bettina Denis did say that the firm is looking to ramp up its impact activity: “We’re starting to pave the way for more impact investments, and those will probably be businesses that could address the climate transition.”

Asked whether Revaia is likely to launch a separate impact fund in the future, Denis added: “definitely it would make a lot of sense.”