Paris-based enterprise capital agency Serena has introduced the primary closing of its fourth flagship fund at €200 million, bringing its complete capital raised to €1 billion in lower than 5 years. The brand new fund will concentrate on utilized synthetic intelligence and the vitality transition, two areas the agency sees as central to Europe’s technological and ecological future.
Based in 2008, Serena has constructed a observe document of backing startups which have grown into international gamers, together with Dataiku, Malt, Descartes Underwriting, and Electra. Serena IV will proceed to assist founders from the earliest phases, with investments of as much as €15 million.
“Serena IV’s first closing marks an necessary milestone, and on the EIF, we’re glad to be a part of this journey. Having already invested in earlier Serena funds, we’re assured that this new enterprise will make a significant contribution to the event of inexperienced applied sciences in Europe, harnessing the facility of AI and the staff’s huge expertise to drive the twin inexperienced and digital transitions,” stated Marjut Falkstedt, EIF Chief Govt.
The fund has already made 4 preliminary investments, together with Formality, an AI-powered contract administration platform created by the founders of TVTY, beforehand funded by Serena and later acquired by Nielsen.
Serena’s portfolio firms have collectively raised over €1.5 billion since 2018, with a mixed valuation approaching €5 billion. A number of have already scaled internationally, together with Descartes Underwriting, Electra, Pelico, Uniphore, and Wecasa. The agency additionally finalised two exits earlier this yr, Salsify and Booksy.
Aurélien de Meaux, co-founder of Electra and Cheerz, described Serena’s strategy: “Once you’re an entrepreneur, you’re usually by yourself and underneath stress from all sides. That’s the place the Serena mannequin makes an actual distinction: they’re former entrepreneurs, they perceive what it’s prefer to run a startup. They’ve been in my footwear, they know hypergrowth, they assist me construction the organisation, take a step again, higher work together with my co-founders and with the board—all the time with each kindness and rigour. Extra concretely, Serena helped us acquire a full yr on our industrial execution at Electra.”
Serena IV is supported by long-standing institutional and personal traders, with 80% of its historic LPs renewing their dedication, alongside new backers from France and overseas.
In February 2025, Serena was recognised among the many prime 5% of value-add seed traders by Dealroom. At present, with €1 billion in complete funds raised and greater than 100 startups backed, the agency continues to broaden its function as certainly one of Europe’s main enterprise capital platforms.
