Serena is a Paris-based venture capital firm founded in 2008 by Xavier Lorphelin, Marc Fournier, and Philippe Hayat. It invests in European startups at the earliest stages (pre-seed to Series B), with a focus on applied AI and energy transition. Its latest fund, Serena IV, closed at €200 million (approximately $217 million) in October 2025, bringing total assets under management to over €1 billion.
Deal activity increased 50% year-over-year (9 deals in the last 12 months). Average disclosed round size is $16.3M (across 81 rounds with reported amounts).
Portfolio
104
Fund Size
$217M
Top Stage
Seed
Last 12 Mo
9
Team
Eric Gossart
Partner - Racine²
Jérôme Stioui
Operating Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
124 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 DeepIP | Series B | $25M | Mar 2026 |
 Midi | Series D | $100M | Feb 2026 |
 Polaron | Series A | — | Feb 2026 |
 Formulary | Seed | $4.6M | Jan 2026 |
 Ours Privacy | Series A | $15M | Jan 2026 |
 Bitstack | Series A | $15M | Dec 2025 |
| HHapiko | Series A | $7M | Nov 2025 |
 Kotcha | Pre-Seed | — | Oct 2025 |
 probabl | Seed | — | Oct 2025 |
 Unrivaled | Series B | — | Sep 2025 |
 PyannoteAI | Seed | — | Apr 2025 |
| DeepIP | Series A | $15M | Mar 2025 |
| TTeal Health | Seed | $10M | Jan 2025 |
 Edgee | Pre-Seed | — | Oct 2024 |
 Formality | Series A | — | Oct 2024 |
| RRebelstork | Series A | $18M | Sep 2024 |
 Odaseva | Series C | $54M | Jun 2024 |
 Electra | Series B | — | Jan 2024 |
 Bitstack | Series A | $15M | Jan 2024 |
 Lolli | Series B | $8M | Dec 2023 |
 Fipto | Seed | — | Sep 2023 |
 Brigad | Series B | $30M | Feb 2023 |
 Dotfile | Seed | $2.7M | Feb 2023 |
 Teal | Seed | $8.8M | Jan 2023 |
 Juno Medical | Series A | $12M | Dec 2022 |
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Top Co-Investors
Bpifrance14 shared
Eurazeo9 shared
Y Combinator9 shared
Alven8 shared
Breega7 shared
Cathay Innovation7 shared
Elaia4 shared
Balderton Capital4 shared
Partech Africa4 shared
ISAI4 shared
XAnge4 shared
CapHorn Invest4 shared
Soma Capital4 shared
4Di Capital4 shared
BlackFin Capital Partners4 shared
Highland Europe4 shared
Station F4 shared
Kima Ventures3 shared
Emerson Collective3 shared
Slow Ventures3 shared
Last updated: 9 September 2026