Start-up investment specialist Eutopia raises €100 million
The Eutopia investment fund, specialised in start-ups addressing new consumer needs, has completed a first funding round worth €100 million in total.
Eutopia is based in Paris and New York, and its portfolio includes cosmetics brands like Oh My Cream!, Merci Handy and Même. At the end of 2019, Eutopia announced the completion of an intermediate funding round worth €40 million for Eutopia II, its second investment vehicle focusing on emerging brands.
The €100 million in fresh finance recently raised by Eutopia, with private investors and retail specialists, is the first funding round carried out since Eutopia parted ways with investment fund Otium Capital. In 2019, the latter, in fact, split into two independent entities: First, dedicated to venture capital investments, and Eutopia, focusing on emerging brands and brands that are trying to reshape society “in a good way.”
As a result, Eutopia, whose individual investments range from €1 million to €8 million, adopted a ‘benefit corporation’ status and recently became a Certified B company, as a business meeting the highest standards of verified social and environmental performance.
In Q3, the 26 companies included in Eutopia's portfolio generated an aggregate revenue of €40 million, growing by 65% over the previous year.
Copyright © 2021 FashionNetwork.com All rights reserved.