What Axeleo Capital does

Axeleo Capital is a French venture capital firm, licensed by the Autorité des Marchés Financiers (AMF) since March 2017 as an alternative investment fund manager (AIFM, license GP-17000006), operating two distinct strategies from its registered office in Lyon with operational presence in Paris. The Digital strategy invests at the pre-seed and seed stage in European B2B software founders (tickets of €0.5M–€3M initial, up to €10M including follow-ons), with a focus on cybersecurity, AI/data/devtools, fintech, and frontier IT/robotics. The Greentech Industry strategy, launched in 2024 through a dedicated Article 9 SFDR-classified fund, invests at Series A and B in capital-intensive cleanTech (tickets of €3M–€10M initial, up to €15M+ follow-on), addressing the European 'Valley of Death' for first-of-a-kind (FOAK) industrial deployments across energy, chemicals/materials, food/agriculture, and mobility.

The firm monetizes through two standard VC revenue streams: (1) annual management fees on committed capital under management across its fund family (Axeleo Capital 1 — Article 6, AXC 2 — Article 8, Axeleo Proptech 1, and Axeleo Green Tech Industry 1 — Article 9), and (2) performance-based carried interest on exits above the typical 8% preferred return threshold. Deal flow is sourced through direct founder outreach, an internal network of 100+ C-level operators and blue-chip enterprise accounts, LP referrals (notably Veolia, Bpifrance, and Credit Mutuel Impact as institutional anchors), and proprietary content marketing including the quarterly Urbantech Index and Cybersecurity Index publications.

The 15–20-person team is led by founding partners Eric Burdier and Mathieu Viallard, with sector-dedicated partners Brice Lapouble (Digital), Marc Lechantre (Greentech), and supporting venture partner, principal, associate, analyst, IR, legal, finance, and ESG functions. The firm reports 20+ exits to global technology leaders including Tenable, Snyk, Docebo, and Netskope, and has scaled its investment activity meaningfully in 2025–2026, leading or co-leading rounds in Bioweg, Exergy3, Bobine, Kestra, Symbiotic Security, and Linkup. A new corporate identity was launched in June 2026, repositioning the firm as a dual-vertical European platform.

Name

Axeleo Capital

Legal name

Axeleo Capital

Website

https://axc.vc

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Axeleo Capital is a French venture capital firm investing at pre-seed/seed in European B2B software and at Series A/B in greentech industrial startups, deploying €0.5M–€15M+ tickets across four funds and serving institutional LPs and early-stage founders.

Ownership category

akta.pro rank

Product category

Venture Capital / Private Equity

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Venture capital investing
• Early-stage equity funding
• B2b software investments
• Greentech industrial funding
• Technology growth capital

Headquarters

HQ city

Lyon

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Management Fees: VC firms typically charge annual management fees on committed capital under management (AUM), typically 1.5–2.5% of fund size. Axeleo manages multiple funds including Axeleo Capital 1, Axeleo Proptech 1, AXC 2, and Axeleo Green Tech Industry 1.
2. Carried Interest (Carry): Performance-based allocation earned on investment returns above a preferred return threshold (typically 8%). Carry represents the primary upside for VC GPs and aligns fund manager interests with LPs. The firm has recorded over 20 exits to global tech leaders including Tenable, Snyk, Docebo, and Netskope.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Axeleo Capital is a French venture capital firm that deploys equity capital into early-stage European B2B software (Digital) and industrial greentech (Greentech Industry) startups while providing operational coaching and access to a network of C-level operators. The firm manages multiple funds — Axeleo Capital 1, AXC 2, Axeleo Proptech 1, and the Article 9 SFDR-classified Axeleo Green Tech Industry 1 — with ticket sizes ranging from €0.5M–€10M for pre-seed/seed digital investments and €3M–€15M+ for Series A/B greentech investments. Beyond capital deployment, Axeleo Capital also publishes proprietary quarterly market intelligence, including the Cybersecurity Index, the Urbantech Index, and the European Cybersecurity Report.

Product overview

Axeleo Capital is a venture capital firm that does not offer a product or service in the traditional sense. The company operates as an investment firm providing equity funding, operational coaching, and strategic support to early-stage B2B software (Digital) and greentech industrial (Greentech Industry) startups across Europe. The firm manages multiple investment funds including Axeleo Capital 1, Axeleo Proptech 1, AXC 2, and Axeleo Green Tech Industry 1, with SFDR classifications ranging from Article 6 to Article 9. The company publishes industry research including the Cybersecurity Index (quarterly), Urbantech Index (quarterly), European Cybersecurity Report, and thematic deep dives on topics such as Thermal Energy Storage, Geothermal Energy, Critical Raw Materials, and Energy & AI.

Differentiator

Problem solved

Functional benefit

Brands

• Digital Venture: Venture capital strategy focused on pre-seed and seed investments in B2B software across Europe, covering Cyber & Infrastructure, AI/Data/DevTools, Fintech & Business Automation, and Frontier IT & Robotics.
• Greentech Industry
• Urbantech Index
• Cybersecurity Index
• Axeleo Capital 1
• AXC 2
• Axeleo Green Tech Industry 1

Products and services

• Digital Venture Fund (Pre-Seed & Seed) Equity capital and operator-led scaling support for European early-stage B2B software founders at the pre-seed to seed transition point between product vision and market leadership. Tickets €0.5M–€10M including follow-ons.
• Greentech Industry Fund (Series A & B) Patient growth equity for European Greentech industrial founders scaling hardware-centric GreenTech innovations (energy, chemicals & materials, food & agriculture, mobility) through commercial inflection points and first-of-a-kind (FOAK) industrial deployments. Tickets €3M–€15M+.
• Axeleo Capital 1 (Article 6 Fund) Axeleo Capital's inaugural SFDR Article 6 fund focused on European digital/software early-stage investments.
• AXC 2 (Article 8 Fund) Axeleo Capital's second-generation fund, classified as SFDR Article 8, focused on European digital/software early-stage investments.
• Cybersecurity Index Quarterly proprietary research publication analyzing the European cybersecurity investment ecosystem for founders, LPs, and corporate partners.
• Urbantech Index Quarterly proprietary research publication reviewing European Urbantech B2B SaaS investment trends across Energy, Construction, and Real Estate verticals.
• European Cybersecurity Report Annual comprehensive report on the European cybersecurity investment ecosystem, published in partnership with Oteria Cyber School.

Quantifiable outcome

• Over 20 exits to global tech leaders including Tenable, Snyk, Docebo, and Netskope
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• MichelincoreStrategic or Co-development PartnerStrategic partnership with Michelin Group to install bobine's second-generation industrial demonstrator (one-ton-per-day treatment capacity) at The Center for Sustainable Materials in Clermont-Ferrand. Michelin provides industrial site access and operating environment, significantly reducing bobine's execution and scale-up risk.
• ApidayminorOthersAxeleo Capital provides portfolio companies access to Apiday for real-time ESG tracking as part of its sustainability toolbox.
• Oteria Cyber SchoolminorStrategic or Co-development PartnerAxeleo Capital co-published the 2025 European Cybersecurity Report with Oteria Cyber School, combining Axeleo's investment data with Oteria's cybersecurity education expertise.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Alven: Paris-based early-stage VC focused on B2B software and SaaS across Europe. Frequently co-invests with Axeleo Capital (led Kestra's seed extension, led Symbiotic Security's seed) and shares the French/European digital thesis.
• ISAI: Paris-based early-stage VC investing in B2B software, internet, and deeptech. Co-led Kestra's $3M seed round with Axeleo and followed on through Series A, demonstrating highly overlapping investment scope and stage.
• Partech: European growth VC with strong French roots, investing from seed to growth in software, digital, and deeptech. Co-invested in Joko with Axeleo and shares the operator-led, sector-driven French early-stage thesis.
• Elaia Partners: Paris-based VC investing in early-stage digital and deeptech across Europe. Co-invested in Linkup's $10M seed round alongside Axeleo, sharing comparable ticket sizes and a French/European enterprise-software focus.
• Speedinvest: Vienna-based early-stage VC with sector-focused funds in B2B SaaS, fintech, deeptech, and industrial tech across Europe. Highly comparable sector specialization, ticket sizing, and European early-stage mandate to Axeleo Capital.
• Notion Capital: London-based VC focused on B2B SaaS and enterprise software in Europe. Comparable early-stage European B2B software thesis, similar operator-led value-add approach, and overlapping cybersecurity/SaaS portfolio overlap.
• Point Nine Capital: Berlin-based early-stage VC focused on B2B SaaS and digital businesses across Europe. Highly comparable SaaS-only focus, pre-seed/seed ticket sizing, and European geographic mandate to Axeleo's Digital Venture strategy.
• Earlybird Venture Capital: Berlin-based European early/growth-stage VC with deeptech, digital, and industrial-tech coverage. Comparable European mandate, multi-stage digital/deeptech focus, and similar presence in cybersecurity, AI, and industrial software.

Broad incumbents

• Index Ventures: Global European-rooted VC investing across all stages in software, fintech, and frontier tech. Larger and broader platform than Axeleo, but competes for similar European early-stage B2B software deals at later-stage rounds.
• Atomico: London-based European tech VC investing from seed to growth in B2B software, consumer, and frontier tech. Larger incumbent that occasionally competes with Axeleo in European Series A rounds for enterprise software companies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/3277365
• Xx.com/axeleo_capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments106 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Axeleo Capital