Evolution of fundraising in impact startups In 2020: deals by so-called impact companies accounted for "only" 8% of the total amount raised in France, at the same level as in 2019. At that time, 5 companies were in the top 15. These were Ynsect, Innovafeed (both...

There are many articles on the subject, but for Multeam the best and most comprehensive analysis is the one produced by The Galion Project (https://thegalionproject.com/outils/galion-fundraiser-guidelines/). To sum up, The Galion Project defines the main expectations...

The question of governance arises when an investment fund invests in a company.Investors are not involved in the day-to-day running of the company. Nevertheless, outside formal meetings, managers are often called upon to discuss a range of issues with investors...

Among the obligations laid down in the shareholders' agreement drawn up when the investors join the company, are the financial reports that the company must provide at regular intervals. The most frequently requested information :  Monthly reporting: document...

You're probably familiar with the most famous of them all : Anthony Bourbon's Blast Club. The Club Deal is a recently introduced investment structure, whose number has increased considerably over the past two years. You can use them in the same way as funds. In fact,...

A number of major groups have ventured into the financial and strategic support of small businesses, through Corporate Venture Capital or CVC funds. These include Sodexo Ventures, Construction Venture, ALIAD (Air Liquide), Airbus Venture Capital, MM Innov' (Malakoff...

The usual valuation methods are generally based on comparable values or discounted cash flow... and on a company's history. Since venture capital-backed companies, by definition, have no history of profitability, these methods are not suitable. The logic of the first...

A very formal document (not easy to read!), it often exceeds 50 pages in length (!), but you need to make the effort to understand it, as it is the reference document for relations between investors and founders. The negotiation of certain clauses is often laborious...

Dilution is a key factor for future investors when raising a Series A. Indeed, funds may fear that founders who are too diluted will see their motivation diminish in relation to capital gains targets, or even that they will leave the project prematurely if the company...