Aster
Aster is a venture capital firm founded in 2000 and based in Paris, France, specializing in deep tech, industry, and climate sectors. It manages over €500 million in assets and supports startups from seed to Series B stages, focusing on energy, logistics, mobility, manufacturing, construction, chemicals, and agriculture.
Key facts
Recent exits
Coverage notes
4 funds tracked, 73 portfolio companies (41 active · 32 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
73 companiesFunds & portfolio
Every fund Aster has raised, with its portfolio companies. Hand-checked from public filings.
Aster IIIVC2023 · 3yr€200M5 active
Unrealized
5 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| ClimateTech |  US | 2023 | |
| Aerospace & Defence | US | 2023 | |
| Deep Tech |  UK | 2024 | |
| AI/ML |  Switzerland | 2023 | |
| Energy |  Germany | 2023 |
US· Entry 2023US· Entry 2023UK· Entry 2024Switzerland· Entry 2023Germany· Entry 2023Aster AfricaVC2019 · 7yr€50M11 active · 2 realized
Unrealized
11 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Energy | South Africa | 2020 | |
| Industrials | Kenya | 2020 | |
| Energy | Sierra Leone | 2020 | |
| TMT | Kenya | 2020 | |
| Energy | DR Congo | 2020 | |
| Software | Nigeria | 2021 | |
| Energy | Ghana | 2019 | |
| Energy | Kenya | 2020 | |
| Energy | Kenya | 2020 | |
| Energy | Tanzania | 2019 | |
| Energy | Zimbabwe | 2020 |
Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Energy | Kenya | 2019 | 2023 | Trade Sale | – | ||
| Energy | Kenya | 2019 | 2023 | Trade Sale | – |
Aster IIVC2017 · 9yr€150M22 active · 13 realized
Unrealized
22 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Software |  France | 2021 | |
| Industrials | Israel | 2018 | |
| Industrials | India | 2019 | |
| Energy | US | 2019 | |
| Software | UK | 2020 | |
| Software | France | 2019 | |
| Industrials | France | 2018 | |
| Deep Tech | UK | 2021 | |
| TMT | France | 2020 | |
| TMT | France | 2019 | |
| SaaS | France | 2021 | |
| Industrials | UK | 2020 | |
| TMT | France | 2019 | |
| Energy | US | 2026 | |
| TMT | France | 2021 | |
| TMT |  Spain | 2018 | |
| E-commerce | France | 2020 | |
| Energy | India | 2018 | |
| TMT | Germany | 2018 | |
| TMT | France | 2018 | |
| Energy | France | 2018 | |
| Software | Germany | 2021 |
France· Entry 2021US· Entry 2019UK· Entry 2020France· Entry 2019France· Entry 2018UK· Entry 2021France· Entry 2020France· Entry 2019France· Entry 2021UK· Entry 2020France· Entry 2019US· Entry 2026France· Entry 2021Spain· Entry 2018France· Entry 2020Germany· Entry 2018France· Entry 2018France· Entry 2018Germany· Entry 2021Realized
13 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Software | France | 2018 | 2025 | Trade Sale | – | ||
| TMT | France | 2020 | 2023 | Secondary | – | ||
| Consumer | France | 2019 | 2022 | Trade Sale | – | ||
| Software | France | 2018 | 2023 | Secondary | – | ||
| Software | France | 2018 | 2023 | Trade Sale | – | ||
| Energy | France | 2019 | 2023 | Secondary | – | ||
| Software | US | 2016 | 2025 | Trade Sale | – | ||
| Energy | UK | 2019 | 2024 | Secondary | – | ||
| Industrials | US | 2018 | 2022 | – | – | – | |
| TMT | UK | 2020 | 2023 | – | – | – | |
| Software | France | 2020 | 2023 | – | – | – | |
| Industrials | US | 2017 | 2022 | Secondary | – | ||
| TMT | US | 2019 | 2025 | Secondary | – |
US· Entry 2018UK· Entry 2020France· Entry 2020Aster Capital IVC2010 · 16yr€100M3 active · 17 realized
Unrealized
3 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Deep Tech | US | 2015 | |
| Energy | France | 2025 | |
| Energy | Morocco | 2015 |
US· Entry 2015France· Entry 2025Realized
17 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Software | US | 2013 | 2021 | Secondary | – | ||
| Industrials |  Netherlands | 2012 | 2017 | IPO | – | ||
| Software | Australia | 2013 | 2015 | IPO | – | ||
| Cybersecurity | Israel | 2016 | 2021 | Secondary | – | ||
| TMT |  Sweden | 2012 | 2014 | Trade Sale | – | ||
| Energy | US | 2012 | 2016 | Trade Sale | – | ||
| Energy | US | 2012 | 2017 | Trade Sale | – | ||
| TMT | US | 2014 | 2022 | IPO | – | ||
| Software | France | 2016 | 2021 | Trade Sale | – | ||
| Industrials | France | 2013 | 2021 | Secondary | – | ||
| Software | France | 2014 | 2019 | – | – | – | |
| Industrials | France | 2012 | 2014 | IPO | – | ||
| Cybersecurity | France | 2010 | 2012 | Trade Sale | – | ||
| Software | France | 2012 | 2016 | Trade Sale | – | ||
| Software | France | 2012 | 2022 | Trade Sale | – | ||
| Energy | France | 2011 | 2015 | Trade Sale | – | ||
| Industrials | France | 2011 | 2016 | Trade Sale | – |
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About Aster
Aster is a French venture capital firm with over €500 million of assets under management as of December 2024, founded in 2000 and headquartered in Paris. The firm specialises in deep tech, industry and climate sectors, supporting startups from seed to Series B stages with sector focus on energy, logistics and selective deep tech themes that align with European industrial and climate transition objectives.
Investment thesis
Aster targets European deep tech, industrial technology and climate technology companies at seed and Series A-B stages, with selective follow-on commitments through Series C. Sector focus spans Energy, Industrials, Software and selective climate transition verticals, with equity ticket sizes typically ranging from €1 million seed positions through to €15 million Series B follow-on investments. The deep tech and climate mandate distinguishes Aster from generalist VC peers.
Recent activity
Recent realised exits include Swiftly (TMT, 2025), Gridbeyond (energy, 2024), Advae (software, 2023) and Betterway (TMT, 2023), reflecting active distribution across the deep tech and climate franchises. The platform tracks 4 funds, 40 active portfolio companies and 33 realised exits across the multi-decade European VC track record. Detailed buyer names and multiple data available on Pro at €29/month.
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