Elaia DeepTech Seed Fund III

About Elaia DeepTech Seed Fund III

Doubled from DTS1/DTS2 (~€77M each), 12% above revised €120M target. €1B+ AUM across all vehicles. Deep research institution partnerships with PSL, INRIA, CNRS, Max Planck Foundation. Three pillars: computing, industry, and life sciences. Exit to Eli Lilly (Mablink).

Investment Focus

Location / RegionFrance

Funding StagePre Seed

Industry Focus

Ai Ml

Biotech

Cybersecurity

Deep Tech

Robotics Automation

Semiconductors

Investor Signals Profile

active

Sweet Spot

European scientist-founder in quantum, biotech, robotics, or advanced computing at pre-seed

deep-tech

pre-seed/seed

hard-science

research-institution-spinouts

european-tech-sovereignty

Bullish Signals

DTS3 closed at €134M, 12% above target, with 11 companies already backedblog

Mablink acquired by Eli Lilly — proven exit track record in hard scienceblog

Flexible €1–13M check range allows leading pre-seed or seed outrightblog

Research institution partnerships create structural deal flow moat generalists can't replicateblog

Contrarian Signals

Larger fund size increases deployment pressure and valuation discipline riskblog

Hard science takes longer to liquidity — not for return-hungry LPsblog

Explicitly not chasing software or AI venture narrativesblog

Founder Do's

Emerge from or have formal ties to European research institutions like PSL, INRIA, or CNRS

Build at pre-commercial stage — Elaia explicitly backs before incorporation

Focus on validated science with clear large commercial market intersection

Be prepared for Elaia's domain-deep technical diligence — not advisor-outsourced

Navigate IP and technology transfer structures early — Elaia actively helps with this

Founder Don'ts

Don't pitch software or AI-wrapper plays — this fund backs hard science only

Don't expect fast liquidity timelines — fund is built for long-duration deep tech bets

Don't come without validated science — commercial potential must be grounded in research

Key GPs & Partners

Xavier Lazarus

Managing Partner

thesis-drivenpatient-capitalcommunity-builder

Anne-Sophie Carrese

Partner

thesis-drivenhands-onex-founder

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Fund Overview

Fund Size€134M

Saves0

Website

Key People

Xavier Lazarus, Anne-Sophie Carrese, Samantha Jerusalmy

Xavier LazarusManaging Partner

Anne-Sophie CarresePartner