Western Europe

Investments in sovereign resilience blur the lines between defense, civil tech and public safety, writes Nick Kingsbury, a partner at Amadeus Capital Partners.

Venture Capital Journal sits down with Ben Luckett, who set up Aviva's VC platform in July 2015 and has led it since then as managing director of venture and strategic capital.

The UK-based fund of funds leverages the data from its nearly 40-year history to focus on a smaller number of managers it believes will consistently outperform the venture market.

VCs worldwide raised a combined $16.8bn, the lowest quarterly figure since Q4 2015, according to Venture Capital Journal research.

LPs include fund of funds Top Tier Capital Partners and Aldea Ventures, as well as multi-family office Granite Capital Management and real estate investor Dominus.

C4 Ventures has already raised €40m out of a targeted €100m for Fund III and plans to bet big on European AI companies.

The Paris-based firm has already completed 15 investments concentrated around its five offices on the continent.

The firm’s investment strategy builds on academic research that shows 51% higher returns over 40 years for venture-backed companies tackling big societal problems than their peers.

The fund plans to invest in 15-20 pre-seed through Series A companies, about 80% of which will be venture-backed.

The fund is anchored by the Fonds de solidarité FTQ, while its other LPs include Capital régional et coopératif Desjardins, Fonds québécois d'amorçage Teralys and TD Innovation Partners.