HCVC is excited to announce the closing of its second fund, aptly named “Fund II.” This new fund has raised an impressive $75 million (€69 million), empowering HCVC to support pre-seed and seed companies across Europe and North America. While HCVC initially focused on hardware startup investments, the firm has evolved to invest in deep tech startups that span various sectors including climate, biotech, robotics, space, and more. Notable portfolio companies that HCVC has supported include Cowboy, Renaissance Fusion, Span, Caper, Automata, Radia, and Augmenta.
It is important to note that the name HCVC itself originates from the Hardware Club, a vibrant community of hardware and deep tech companies who collaborate and share knowledge within the network. With over 600 companies involved, the Hardware Club serves as a powerhouse of industry expertise and support.
Evolution of HCVC
Since its inception, HCVC has demonstrated incredible growth and adaptability. Initially focused on hardware startup investments, the firm quickly recognized the potential of deep tech startups in driving innovation and making a lasting impact. As a result, HCVC expanded its investment scope to encompass promising ventures in climate, biotech, robotics, space, and other cutting-edge industries. This strategic shift has allowed HCVC to remain at the forefront of technological advancements and support impactful companies that have the potential to shape the future.
Collaboration with the Hardware Club has been a key factor in HCVC’s success. While the Hardware Club itself is not a direct money-making endeavor, it serves as a vibrant community that fosters knowledge sharing and mutual support among its members. HCVC has actively engaged with this network, forging strong partnerships and leveraging the collective expertise of its member companies.
Previous Fund Highlights
HCVC has a track record of successfully investing in promising startups. With its original $50 million fund, the firm backed 50 companies, providing them with the necessary resources to thrive and succeed. Now, with the launch of Fund II, HCVC aims to conduct up to 40 investments, averaging around 10 deals per year. This substantial increase in investment opportunities will further amplify HCVC’s impact in the startup ecosystem. With average investment sizes ranging from €250,000 to €2.5 million per deal ($260,000 to $2.6 million), HCVC is well-equipped to support startups at various stages of their growth journey.
Focus on Future Technologies
HCVC’s overarching mission is to back founders who are actively shaping a future that embraces clean energy, powerful computing, context-aware robots, defense tools for democracies, and biomanufacturing for decarbonized food production. By investing in companies at the forefront of these transformative technologies, HCVC is positioning itself as a catalyst for change and progress. Founder and managing partner, Alexis Houssou, articulates the vision succinctly, stating, “We want to back founders that create a future with more clean energy, more powerful computing, more context-aware robots, better defense tools for democracies, and biomanufacturing that enables us to decarbonize food production.”
Partnership and Team
HCVC’s success is fueled by the expertise and dedication of its partners. The team consists of Alexis Houssou, Jerry Yang, Aymerik Renard, and Alex Flamant. Alex Flamant, a recent addition to the team, brings with him a wealth of experience from his time as a principal at Singular and Notion Capital. The collaboration and diverse expertise of the HCVC partners forms the foundation for the firm’s strategic investments and continued growth.
In addition to its partners, HCVC has secured partnerships with esteemed organizations such as the European Investment Fund, Isomer Capital, Molten Ventures, and individual investors. Notable individual investors include Albert Wenger, managing partner at USV, John Elkann, chairman of Stellantis and Ferrari, and Toto Wolff, team principal and CEO of Mercedes-AMG Petronas F1 team. These partnerships and investor support further validate HCVC’s mission and contribute to the firm’s strong industry reputation.
It is worth noting that HCVC’s fund is exclusively backed by investors from Europe, America, and Japan. This distinction sets HCVC apart from many U.S. VC firms and highlights the firm’s commitment to its chosen markets and its focus on building a robust network of diverse stakeholders.
No Saudi Arabian Investor Participation
One unique aspect of HCVC’s funding is the absence of Saudi Arabian investors. While many firms may have various investor participation, HCVC intentionally distinguishes itself through this exclusion. The firm’s decision to exclusively work with investors from Europe, America, and Japan aligns with its vision and strategic objectives. By strategically curating its investor base, HCVC maintains a focused network that shares its commitment to driving innovation and creating a positive impact.
In conclusion, HCVC’s announcement of Fund II marks an exciting milestone in its journey. With $75 million raised, HCVC is poised to support pre-seed and seed companies across Europe and North America, fostering innovation and progress in deep tech industries. The firm’s evolution from a hardware startup investor to a champion of cutting-edge technologies reflects its adaptability and commitment to driving positive change. Moving forward, HCVC’s focus on future technologies and its partnerships with industry leaders position it at the forefront of global innovation and investment. By remaining exclusively backed by investors from Europe, America, and Japan, HCVC reinforces its aligned vision and ensures a strong support network that shares its values and objectives. As HCVC continues its upward trajectory, it will undoubtedly contribute to shaping a future powered by clean energy, advanced robotics, and impactful biomanufacturing.
