French VC is on track for its best fundraising year since 2023, but one fund has done most of the work.
According to PitchBook's Q2 2026 France Market Snapshot, French VC raised €2.4 billion (about $2.7 billion) in the first half of this year, already surpassing the €1.7 billion raised in the whole of 2025.
Paris-based biopharma investor Jeito Capital's $1.2 billion close of Jeito II in March accounts for more than 40% of that total.
Another large biopharma fundraise was the €215 million close of Kurma Biofund IV in April, backed by Eurazeo, the Australian pharmaceutical company CSL, the European Investment Fund, and Bpifrance.
Outside the Jeito close, state capital and coordinated institutional commitments have kept the rest of the market afloat.
France's state investment bank Bpifrance remained the most significant stakeholder in the VC ecosystem. It accounts for roughly 30% of all seed and early-stage investment in the country and committed €10 billion to the AI sector in February last year, according to PitchBook's 2026 France Private Capital Breakdown.
Separately, France's Tibi 2 program, launched in 2023, has more than 30 French institutional investors, corporates, and family offices pledging to invest about €7 billion collectively in eligible tech-focused funds through the end of 2026.
A few open VC funds that are currently in the market can further buoy France's VC fundraising momentum.
These include Atlantic Vantage Point's late-stage vehicle, targeting €1.5 billion and the largest fund currently fundraising in the market, and Bpifrance's Large Venture Fund 3, targeting €750 million.
This article originally appeared on PitchBook News
Source: Yahoo Finance Top News — This article was automatically imported from the source. Read full article at original source →
