French Engineering School’s Alumni Fund Targets €40M for Deep Tech Startups

Prestigious University Backs Next Generation of Innovators

École Polytechnique, France’s renowned engineering institution, is making significant strides in venture capital through its alumni network. Polytechnique Ventures has secured €21 million toward a new fund targeting €30-40 million to support startups emerging from the university’s ecosystem. This initiative represents a growing trend of academic institutions actively participating in venture funding to nurture innovation from within their communities.

Strategic Focus on Deep Technology

The fund specifically targets early-stage startups with connections to École Polytechnique, whether through alumni founders, technology spin-offs from university labs, or companies developed through the school’s X-Novation Center incubator. This strategic approach ensures that supported ventures benefit from the institution’s rigorous academic foundation and technical expertise.

“As deeptech investors, our access to expert researchers within the school gives us a significant advantage when assessing companies and providing support,” explains Cécile Tharaud, CEO of Polytechnique Ventures. “Our LP network, composed entirely of former polytechnicians, represents an incredible resource where every member serves as a potential mentor.”

Investment Strategy and Portfolio Approach

The new fund plans to back 15-20 startups at pre-seed and seed stages with initial investments ranging from €250,000 to €1 million. The firm has allocated follow-on capacity of up to €2 million per company for Series A rounds, demonstrating long-term commitment to portfolio companies.

Key investment sectors include:, according to related coverage

• Healthcare technology and medical innovations
• Energy solutions, including nuclear micro-reactors
• Artificial intelligence and machine learning applications
• Financial technology and enterprise solutions
• Industrial technology and advanced manufacturing

Proven Track Record and Growing Momentum

This marks the second fund for Polytechnique Ventures, which successfully raised and deployed its initial €36 million fund starting in 2020. The firm’s portfolio includes promising companies such as H Company (AI agents), Jimmy Energy (nuclear micro-reactors), and Gobano Robotics (AI-powered robotics).

Tharaud notes significant progress in the fund’s development: “After five years, we’ve demonstrated that the concept works effectively. Initially, we had to actively seek more than 80% of our deal flow, but now more than half of potential investments come to us directly.”

European Alumni Fund Ecosystem Emerges

Polytechnique Ventures represents part of a growing movement in Europe where university alumni networks are establishing dedicated venture funds. While similar models have matured extensively in the United States through organizations like Alumni Ventures, the European landscape is now developing comparable structures.

France currently hosts three other significant alumni funds: HEC Ventures, CentraleSupélec Ventures, and EDHEC’s venture fund. Tharaud confirms that additional university-backed funds are in development, signaling a broader recognition of the value in connecting academic excellence with venture capital expertise.

“The model has proven sustainable,” Tharaud emphasizes. “Our ability to raise a second fund demonstrates that this approach delivers value to both investors and the startup ecosystem. We’ve established a framework that supports innovation while maintaining the academic rigor that defines École Polytechnique.”

Institutional Support and Future Outlook

The fund’s limited partners include 160 alumni, primarily from financial services, industrial, and entrepreneurial backgrounds. The Polytechnique Foundation, the school’s non-profit funding arm, also participates as an LP with carry arrangements beyond standard fund returns., as detailed analysis

This combination of alumni expertise, institutional support, and direct access to cutting-edge research creates a unique investment vehicle positioned to identify and nurture the next generation of deep technology leaders emerging from one of Europe’s most respected engineering institutions.

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