Aster

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.

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

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

• Venture capital firm
• Deep tech investment
• Climate tech funding
• Corporate venture capital
• Industrial decarbonization

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. 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.
2. 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.
3. 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

Core 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

Named customers6 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

Ten partnerships are on record, tiered minor and core.

• Genius Trading TerminalminorStrategic or Co-development Partner · 27 March 2026Note: 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)coreStrategic or Co-development Partner · 18 March 2026Note: 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.
• KeppelcoreStrategic or Co-development Partner · 13 February 2026Keppel 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 CouncilminorStrategic or Co-development PartnerAster is a member and supporter of the European Innovation Council, contributing to deeptech and climate innovation ecosystem development in Europe.
• Beyond the BillionminorStrategic or Co-development PartnerAster is a partner with Beyond the Billion, a global initiative supporting women-founded companies in accessing capital.
• Cleantech for EuropeminorStrategic or Co-development PartnerAster is a member of Cleantech for Europe, contributing to policy discussions and ecosystem development for clean technology in Europe.
• France DeeptechminorStrategic or Co-development PartnerAster supports France Deeptech initiative, promoting deep tech startups and industrialization in France.
• Climate Dividends AssociationminorStrategic or Co-development PartnerAster is a member of Climate Dividends Association, demonstrating commitment to climate-focused investing.
• SISTAminorStrategic or Co-development PartnerAster is a signatory of the SISTA pledge, supporting diversity and inclusion in the startup ecosystem.
• France InvestminorStrategic or Co-development PartnerAster 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

Broad 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

• LinkedInlinkedin.com/company/aster-capital
• Xx.com/astercapital

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors

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

M&A1 record

Investments197 records

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

Frequently asked questions about Aster