Aster
Aster Capital Partners is a Paris-based venture capital firm investing €500k to €5m in European deep tech, climate, mobility, and industrial startups from seed to Series B, with additional CVC secondary and corporate consulting services.
- Company typePrivate
- Founded2000
- HeadquartersParis, France
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Aster does
Aster Capital Partners SAS is a French venture capital firm founded in June 2000 (originally as Schneider Electric Ventures), fully independent since 2017-2018 and headquartered at 26 avenue de l'Opéra in Paris with a secondary office in Bordeaux. The firm specializes in deep tech, climate tech, mobility, energy, and industrial sectors, investing from seed to Series B with ticket sizes of €500k to €5m into European and selectively North American startups. Aster operates through three specialized fund vehicles — Aster Industrial Ventures (deep tech), Low Carbon Tech Fund (energy ecosystem), and Venture Secondary (CVC portfolio acquisitions) — supplemented by a dedicated FPCI fund created in 2023 to hold the ~20-company portfolio acquired from TotalEnergies Ventures.
The firm differentiates through an integrated ecosystem model spanning an Investment Team that sources deals, a Corporate Team that connects startups with industrial partners for pilots and commercialization, and a Scale Team providing mentorship on B2B sales, marketing, and talent. Aster Fab, a wholly-owned consulting subsidiary established in 2018, helps industrial corporations decarbonize hard-to-abate sectors by tapping the startup ecosystem, while Aster Class disseminates training in climate tech and venture capital. The firm is AMF-accredited under GP 02 024 and has executed exits including Betterway (2023, sold to Edenred), GridBeyond (2024), and Swiftly (2025, Cove Hill Partners-led), while maintaining portfolio positions in companies such as Neural Concept, Iceotope, Hadean, Eatron, and Warehousing1.
Aster generates revenue through management fees on multiple fund generations raised from industrial and institutional LPs, supplemented by transaction-based returns from portfolio exits and CVC secondary market operations, with Aster Fab providing ancillary consulting revenue. The firm is led by Managing Partner Jean-Marc Bally (co-founder since 2000), Partner Fabio Lancellotti, CFO Chama El Shamy (promoted 2025), General Secretary Cécile Tirbonod (former CFO of 15 years), Venture Partner Vincent Prêtet, and a lean team of fewer than 10 professionals.
Aster firmographics
Firmographics- Name
- Aster
- Legal name
- Aster Capital Partners SAS
- Website
- https://aster.com
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Aster Capital Partners is a Paris-based venture capital firm investing €500k to €5m in European deep tech, climate, mobility, and industrial startups from seed to Series B, with additional CVC secondary and corporate consulting services.
- Ownership category
- akta.pro rank
Aster industry classification
Industry- Product category
- Venture Capital & Private Equity
- NAICS
- Portfolio Management and Investment Advice (52394), Other Financial Vehicles (52599)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Accelerators & Incubators (Investor-Operated) (FSANAAAM)
- akta.pro secondary industries
- Industry-Specialist Buyout (Sector-Focused) (FSANABAE), Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF), Buy-Side Search & Acquisition Advisory (FSAEAIAD)
Keywords
Where Aster is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices2 records
Markets served
Aster business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Management fees: Aster Capital Partners earns management fees from managing multiple generations of funds raised from major industrial and institutional groups. The firm is accredited by AMF under GP 02 024.
- Capital gains from portfolio exits: Aster generates returns through successful exits of portfolio companies including EkWateur (sold 2022), Betterway (sold to Edenred), Swiftly (2025), and GridBeyond (2024). Investment focus on climate tech, mobility, and energy sectors.
- Secondary market transactions: Aster acquires CVC portfolios and venture secondary positions, generating returns through portfolio management and eventual exit. Notable acquisition of TotalEnergies Ventures portfolio of approximately 20 companies.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Aster product offering
Product offeringCore offering
Aster is a venture capital firm that invests €500k to €5m in European deep tech, climate, mobility, and industrial startups from seed to Series B. Beyond direct investment, it manages secondary market acquisitions of CVC portfolios (including the TotalEnergies Ventures transaction) and runs Aster Fab, a consulting arm that helps industrial corporations pursue decarbonization and innovation transformation.
Product overview
Aster Capital Partners is a French venture capital firm offering investment products and advisory services. Its core offerings include three specialized investment funds (Aster Industrial Ventures for deep tech, Low Carbon Tech Fund for energy innovation, and Venture Secondary for portfolio liquidity), supplemented by Aster Fab consulting services for corporate innovation transformation, Aster Class training programs, and the annual Aster French CVC Barometer research publication. The firm operates from seed to Series B stages with investments ranging from €500k to €5m, focused on climate tech, mobility, energy, and industrial sectors.
Differentiator
Problem solved
Functional benefit
Products and services
- Aster Industrial Ventures (Deep Tech Fund)
Quantifiable outcome
- Successful exits from EkWateur (2022), Betterway (2023), GridBeyond (2024), Swiftly (2025)
- +3 more outcomes
Companies that use Aster
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Aster technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Aster partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered minor and core.
- Genius Trading TerminalminorNote: This partnership relates to Aster (crypto/blockchain), a separate entity from Aster Capital Partners VC firm. The partnership enables Genius users to trade perpetual contracts on Aster Chain.
- World Liberty Financial (WLFI)coreNote: This partnership relates to Aster (crypto/blockchain), a separate entity from Aster Capital Partners VC firm. Strategic partnership deepening with WLFI launching USD1-denominated perpetual contracts and trading incentives on Aster Chain.
- KeppelcoreKeppel and Aster partnered to develop Asia's first commercial-scale Ethanol-to-Jet Sustainable Aviation Fuel facility on Jurong Island, Singapore, targeting 100,000 tonnes annually. Supported by Singapore's Economic Development Board and Enterprise Singapore.
- European Innovation CouncilminorAster is a member and supporter of the European Innovation Council, contributing to deeptech and climate innovation ecosystem development in Europe.
- Beyond the BillionminorAster is a partner with Beyond the Billion, a global initiative supporting women-founded companies in accessing capital.
- Cleantech for EuropeminorAster is a member of Cleantech for Europe, contributing to policy discussions and ecosystem development for clean technology in Europe.
- France DeeptechminorAster supports France Deeptech initiative, promoting deep tech startups and industrialization in France.
- Climate Dividends AssociationminorAster is a member of Climate Dividends Association, demonstrating commitment to climate-focused investing.
- SISTAminorAster is a signatory of the SISTA pledge, supporting diversity and inclusion in the startup ecosystem.
- France InvestminorAster is a signatory of France Invest Charter of Commitments for Investors in Growth, adhering to responsible investment practices.
Scale indicators5 records
Recent moves11 records
Expansion highlights6 records
Aster competitors and assessment
Company assessmentBroad incumbents
- Bpifrance: French public investment bank providing direct and fund-of-funds venture capital across all stages and sectors. Comparable as a major capital provider to French deep tech startups, with deeper resources but broader mandate.
- Breakthrough Energy Ventures: Bill Gates-backed climate tech VC investing globally in companies that will reduce greenhouse gas emissions. Comparable in climate tech focus and stage, but with much larger fund size and global scope.
- EQT Ventures: Pan-European venture fund investing from seed to growth in technology-driven companies. Comparable as a European deep tech investor but with significantly larger fund size and broader sector exposure.
- Atomico: European venture firm founded by Skype's Niklas Zennström, investing from Series A onwards in tech companies addressing global challenges. Comparable in European VC focus and growth-stage orientation, with much larger AUM.
Direct peers
- Elaia Partners: Paris-based early-stage VC investing in deep tech and digital from seed to Series B across Europe. Comparable to Aster in French origin, deep tech focus, and seed-to-Series B ticket sizes.
- Demeter: French VC and PE manager focused on energy transition and the ecological transition, with deep tech and climate exposure. Directly comparable to Aster in sector focus (energy, mobility, industry), ticket sizes, and European LPs.
- Earlybird Venture Capital: European venture capital firm with deep tech and climate exposure, investing across stages in Europe. Comparable in industrial/deep tech focus and pan-European approach.
- Speedinvest: European early-stage VC with sector-focused funds including deep tech and climate. Comparable in fund structure (multiple specialized vehicles), European focus, and seed-to-Series A ticket sizes.
- Capagro: French VC specializing in agri-tech and agri-food innovation, part of the industrial VC ecosystem. Comparable as a French sector-focused early-stage investor with industrial LP backing.
- Idinvest Partners (Eurazeo): European mid-market PE and VC investor now part of Eurazeo, with significant exposure to growth and venture stages across Europe. Comparable in European reach and diversified investment vehicles.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Aster social profiles
Digital presenceAster compliance and trust
Trust signalCompliance1 record
Aster financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aster leadership team
Management profileNumber of profiles
Profiles8 records
Aster subsidiaries and ownership
Company hierarchySubsidiaries6 records
Aster funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aster M&A and investment
M&A and investmentM&A1 record
Investments197 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aster
What does Aster do?
Aster is a venture capital firm that invests €500k to €5m in European deep tech, climate, mobility, and industrial startups from seed to Series B. Beyond direct investment, it manages secondary market acquisitions of CVC portfolios (including the TotalEnergies Ventures transaction) and runs Aster Fab, a consulting arm that helps industrial corporations pursue decarbonization and innovation transformation.
Is Aster a public or private company?
Aster is a private company. It is classified as management employee owned and is currently operating.
When was Aster founded?
Aster was founded in 2000. It employs 1 to 10 people.
Where is Aster based?
Aster is headquartered in Paris, France, in the Europe region.
How does Aster make money?
Three revenue lines are on record. Management fees are the primary driver. The others are capital gains from portfolio exits and secondary market transactions.
Who are Aster's main competitors?
Broad incumbents on record are Bpifrance, Breakthrough Energy Ventures, EQT Ventures and Atomico. Direct peers are Elaia Partners, Demeter, Earlybird Venture Capital, Speedinvest, Capagro and Idinvest Partners (Eurazeo).
Does Aster have an API?
No public API is recorded for Aster.
What industry is Aster in?
Aster's product category is Venture Capital & Private Equity. Its primary akta.pro industry code is FSANAAAM, Accelerators & Incubators (Investor-Operated), with a secondary code of FSANABAE, Industry-Specialist Buyout (Sector-Focused). Its NAICS code is 52394 and its SIC code is 6211.