C4 Ventures Launches €100 Million Fund III to Back Europe’s Next Generation of AI and Deep Tech Leaders

C4 Ventures, a leading European Venture firm, led by Pascal Cagni, Boris Bakech, Mathieu Bourdié, Eric Boustouller, Michel Sassano, and others, has launched its third fund, with a target fund size of €100 million. C4 Ventures III will focus on early-stage investments in AI and deep tech startups across Europe, reinforcing the continent’s ability to create global contenders in the field. C4 Ventures is recognized for its hardware expertise, with 5 hardware unicorns and leading portfolio companies such as NEURA Robotics (cognitive robots), Graphcore (AI processors), Alice & Bob and PsiQuantum (quantum computing), and, more recently, Arago (AI semiconductors).

Europe has the market size, talent, research base, and entrepreneurial drive to build a sovereign AI and deep tech ecosystem. C4 Ventures believes this will spark a major reallocation of capital toward regional startups, positioning Europe to compete in AI for decades to come.

C4 Ventures views artificial intelligence as the defining technological shift of our era, one that will transform not only software applications, where most of the industry’s focus lies, but also Physical AI (robotics and autonomous systems), a field where C4 Ventures has been a pioneer since its inception.

C4 Ventures distinguishes itself from traditional firms with an operator-led, founder-first ethos. Built by former Apple and Microsoft executives Pascal Cagni and Eric Boustouller, the boutique fund leverages firsthand experience scaling global tech companies to guide entrepreneurs from inception to exit. Backed by a global network of 30+ operating partners from leading tech firms, C4 Ventures offers founders strategic guidance, operational support, and direct access to industry leaders.

Since its founding in 2014, C4 Ventures has backed 54 startups, with 12 achieving unicorn status, a rare ratio in European VC. The firm has completed a full investment cycle, delivering 20+ exits, including 2 NYSE IPOs (Riskified and Via) and 7 corporate acquisitions. Its second fund, launched in 2020, has already outperformed industry benchmarks, ranking in the top quartile for value creation and near the top decile for liquidity within just five years, underscoring the strength of its strategy and execution.