Racine² is an €87M impact investment initiative created by MGEN and operated by Serena and makesense, supporting early-stage founders in climate, health, education, and sports. It is the largest impact seed fund in France, backing companies that generate positive social and environmental impact.
36% of their portfolio is in Climate & Energy. Their most common stage is seed (43% of deals). Average disclosed round size is $5.8M (across 4 rounds with reported amounts).
Portfolio
12
Fund Size
—
Top Stage
Seed
Last 12 Mo
2
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
14 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Polaron | Series A | — | Feb 2026 |
 Kotcha | Pre-Seed | — | Oct 2025 |
| DDeski | Seed | $6M | Jun 2025 |
 Poppins | Unknown | — | Apr 2025 |
 Clevergy | Pre-Seed | $1.6M | Jan 2024 |
 Rainbow | Seed | $12M | Jan 2024 |
| Polaron | Pre-Seed | — | Jan 2024 |
 Carbonfarm | Seed | — | Oct 2023 |
 Electra | Seed | $3.6M | Jun 2021 |
 Sante Academie | Seed | — | Jan 2020 |
 Lokki | Series A | — | — |
 Riverse | Seed | — | — |
 Lokki | Series A | — | — |
| Rainbow | Pre-Seed | — | — |
Top Co-Investors
Serena5 shared
Speedinvest4 shared
Bpifrance2 shared
Station F2 shared
blisce/2 shared
50 Partners2 shared
Silence VC2 shared
FJ Labs2 shared
Alven2 shared
Kfund2 shared
Motier Ventures1 shared
True Ventures1 shared
Eurazeo1 shared
Verve Ventures1 shared
Kurma Partners1 shared
Evolem1 shared
Techstars1 shared
Better Angle1 shared
NACO1 shared
BNP Paribas1 shared
Last updated: 27 September 2026