Elaia Partners
Paris-based venture firm investing in deep tech, enterprise software, and digital health across Europe.
Elaia is one of the rare European VCs that actually delivers on deep tech promises - they've built 3 unicorns (SandboxAQ, Shift Technology, Mirakl) and had legitimate exits like Criteo's $1.7B NASDAQ IPO and Teads' acquisition by Altice. Xavier Lazarus sits on boards and stays engaged post-investment, which founders consistently praise. The Lazard partnership (with minority stake and option to buy up to 100%) gives them serious growth capital firepower beyond typical VC constraints. However, one employee review noted they can lack operational character and become repetitive - potentially signaling they're better at picking winners than rolling up sleeves in the trenches. They're genuinely technical (math PhD founders) but watch for over-intellectualizing vs. practical market execution.
- —Best for: B2B deep tech founders who need technically sophisticated investors with real exit track record
- —Watch out for: May prioritize intellectual rigor over hands-on operational support when things get messy
- —Known for: Actual unicorns and exits, not just PowerPoint deep tech - plus Lazard partnership for growth capital
Elaia backs tech-intensive European B2B companies with global ambition, combining deep scientific expertise with operational experience. Their investment philosophy centers on disruptive technologies across digital and deep tech sectors, from inception to leadership.
Seed to Series B focus (€300k-€15M tickets) primarily in B2B tech-intensive startups. Strong track record in adtech (Criteo, Teads), SaaS platforms (Mirakl), AI/ML, cybersecurity, digital health, and deep tech across computing, industrial tech, and life sciences.
Former math researcher turned entrepreneur who sold an e-learning startup in 1999, then worked at CPR (now Crédit Agricole) developing VC business in software and IT. Co-founded Elaia in 2002 and sits on boards of major portfolio companies including Mirakl and Criteo.
Co-founder of Elaia Partners alongside Xavier Lazarus in 2002. Has been instrumental in building the firm's reputation in digital and deep tech investments over the past 20+ years.
Focuses on energy, aeronautics, automotive, IoT, artificial intelligence, and deep tech investments. Key leader in Elaia's deep tech seed fund initiatives including the DTS3 fund.
Specializes in AI, SaaS, adtech, martech, HRtech, and agtech investments. Active in the European startup ecosystem and frequently speaks at industry events about later-stage funding dynamics.
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