A New Generation of VC Funds: 2050 & New Wave

Entrepreneur Talks by STATION F

A new billion-dollar fund "crafting a fertile future". A new-generation VC backed by 15 top entrepreneurs to support the "new wave" of founders.

The VC ecosystem is blossoming in France and we interview three investors at the heart of this movement: Marie Ekeland (2050), Pia d'Iribarne (New Wave), and Jean de la Rochebrochard (New Wave and Kima Ventures). If you are familiar with the tech ecosystem in Europe, then you are certainly no stranger to these three names.

Marie, a pioneer in the French tech ecosystem, started her career in VC as a partner at Elaia and founded the VC fund Daphni as well as one of the biggest tech communities France Digitale. Her new fund 2050 is also breaking new ground with its new investment model that prioritizes sustainability and future well-being.

Pia and Jean, highly experienced investors respectively from Accel/Stride and Kima, have rounded up 15 high-level LPs — including Xavier Niel, Yuri Milner of DST, Peter Fenton from Benchmark, Philippe Laffont from Coatue, and Tony Fadell of Nest and Apple — to launch New Wave, a next-gen fund to back the even more ambitious founders in today's European tech landscape.

Topics:

[Part 1 with Marie Ekeland]

01:03 — Introduction of 2050, Marie Ekeland’s new fund

02:10 — The structure and incentives of 2050, an evergreen fund

04:47 — Why 2050 gets away from a traditional VC partnership model

05:40 — The power of finance on the economy

06:25 — The kind of companies in which 2050 invests

09:46 — What kind of investments does 2050 make: cheque size, company stage, etc.

10:13 — Thoughts on “growth at all cost”: the example of Netflix

12:35 — On raising $1 billion by 2030 and building sustainable companies

15:03 — 2050’s investments: the story of Withings

19:20 — Marie Ekeland’s evolution as an investor

21:53 — Marie’s thoughts on the current funding situation in France

23:02 — How 2050 stands out from the competitive VC landscape

24:23 — France’s potential to lead in the sustainable transition

[Part 2 with Pia d’Iribarne & Jean de la Rochebrochard]

27:08 — The impetus for starting New Wave

28:42 — How Jean and Pia met and why they wanted to start a fund together

30:45 — The incredible LPs at New Wave

33:37 — New Wave’s investment thesis

34:30 — The kind of founder profiles that New Wave backs

35:53 — The characteristics that Jean looks for in founders

38:28 — Investments at New Wave: cheque size, company stage, etc.

39:14 — Jean on New Wave and Kima Ventures

42:02 — Pia on her experience as a fund founder

44:24 — Pia on smart money

45:47 — Hopes and expectations for 2021

This episode is supported by Euronext, the leading pan-European stock exchange; hosted by Roxanne Varza; and produced by Cindy Yang. Art is by Gaëtan Lefebvre.

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