TLDR:
- Ventech has exited digital music company Believe, earning €175 million by selling its 12% stake.
- Ventech has launched its sixth fund with a target close to €225 million, focusing on early-stage tech companies in Europe.
Ventech, a French VC firm, has recently sold its stake in digital music company Believe, citing the company’s lack of liquidity as a reason for being undervalued on the Paris Stock Exchange. Despite Believe’s initial listing in 2021 at a €1.9 billion valuation, the company announced in February its decision to go private due to shares trading below its IPO price. Ventech’s sale of its 12% stake resulted in a €175 million return, achieving a successful 36x multiple on its third fund.
Furthermore, Ventech has launched its sixth fund, aiming for around €225 million to invest in early-stage tech companies in Europe. The fund will focus on sectors such as industrial software, digital health, cloud transition solutions for corporations, and deep tech startups including semiconductors and hardware. Ventech has already made initial investments from the fund, backing companies like Firecell and Einwert, and has established a new office in Stockholm to expand its investments in the Nordics, which have shown consistent outperformance in Europe over the past 25 years.
