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.
Aster is a Paris venture capital firm with €500M AUM, 41 active companies and 32 exits.
- ·21 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 32 realized deals: 5 years.
- ·Top sector focus: ClimateTech (25% of portfolio).
- ·Fund cadence: ~4Y between vintages · last raise 2023.
Sector breakdown
73 companiesGeography breakdown
20 geographiesKey facts
Recent exits
Aster sold Advae to Orisha (former Generix Group) in 2025 after 7 years.
Aster sold Entouch to Respida Capital in 2025 after 9 years.
Aster sold Swiftly to Cove Hill Partners in 2025 after 6 years.
Aster sold Gridbeyond to Klima (Alantra Energy Transition Fund) in 2024 after 5 years.
Coverage notes
4 funds tracked, 73 portfolio companies (41 active · 32 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Aster has raised, with its portfolio companies. Hand-checked from public filings.
Aster IIIVC2023€200M5 assetsVC2023 · 3yr€200M5–
Unrealized
5 held| Company | Entry |
|---|---|
| Advanced Ionics ClimateTech · US | 2023 |
| Elroy Air Aerospace & Defence · US | 2023 |
| Hadean Deep Tech · UK | 2024 |
| Neural Concept AI/ML · Switzerland | 2023 |
| Sunfire ClimateTech · Germany | 2023 |
Aster AfricaVC2019€50M11 assets2 exitsVC2019 · 7yr€50M112
Unrealized
11 held| Company | Entry |
|---|---|
| candi solar Energy · South Africa | 2020 |
| InspiraFarms Industrials · Kenya | 2020 |
| ManoCap Energy ClimateTech · Sierra Leone | 2020 |
| Mawingu Networks Telecom · Kenya | 2020 |
| Nuru Energy · DR Congo | 2020 |
| Palgo Software · Nigeria | 2021 |
| PEG Africa ClimateTech · Ghana | 2019 |
| Solarise Africa Energy · Kenya | 2020 |
| SunCulture ClimateTech · Kenya | 2020 |
| ZOLA Electric ClimateTech · Tanzania | 2019 |
| Zonful Energy ClimateTech · Zimbabwe | 2020 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| d.light ClimateTech · Kenya | 2019 | 2023 | Trade Sale | Shell New Energies | – |
| Greenlight Planet ClimateTech · Kenya | 2019 | 2023 | Trade Sale | Sun King | – |
Aster IIVC2017€150M22 assets13 exitsVC2017 · 9yr€150M2213
Unrealized
22 held| Company | Entry |
|---|---|
| 2trde Software · France | 2021 |
| Atlantium Industrials · Israel | 2018 |
| Banyan Nation Industrials · India | 2019 |
| Booster Energy · US | 2019 |
| Circulor Software · UK | 2020 |
| DCbrain Software · France | 2019 |
| Easybike Group Mobility · France | 2018 |
| Eatron Technologies Deep Tech · UK | 2021 |
| EyeLights TMT · France | 2020 |
| Heetch Mobility · France | 2019 |
| Huwise SaaS · France | 2021 |
| Iceotope Industrials · UK | 2020 |
| Karos Mobility · France | 2019 |
| LevelTen Energy ClimateTech · US | 2026 |
| Lula Loop TMT · France | 2021 |
| Ontruck Logistics · Spain | 2018 |
| Otoqi E-commerce · France | 2020 |
| Promethean Power Systems ClimateTech · India | 2018 |
| tado ClimateTech · Germany | 2018 |
| Teem Photonics TMT · France | 2018 |
| Terakalis ClimateTech · France | 2018 |
| Warehousing1 Logistics · Germany | 2021 |
Realized
13 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Advae Software · France | 2018 | 2025 | Trade Sale | Orisha (former Generix Group) | – |
| Betterway Fintech · France | 2020 | 2023 | Secondary | Edenred | – |
| Casanova FoodTech · France | 2019 | 2022 | Trade Sale | CAE Groupe | – |
| Cosmo Tech Software · France | 2018 | 2023 | Secondary | Insight Partners | – |
| Eficia ClimateTech · France | 2018 | 2023 | Trade Sale | Hager Group | – |
| ekWateur Energy · France | 2019 | 2023 | Secondary | Ansonia | – |
| Entouch SaaS · US | 2016 | 2025 | Trade Sale | Respida Capital | – |
| Gridbeyond ClimateTech · UK | 2019 | 2024 | Secondary | Klima (Alantra Energy Transition Fund) | – |
| Ionic Materials Industrials · US | 2018 | 2022 | – | – | – |
| Onto TMT · UK | 2020 | 2023 | – | – | – |
| PacketAI Software · France | 2020 | 2023 | – | – | – |
| Solidia Technologies Construction · US | 2017 | 2022 | Secondary | Secondary market | – |
| Swiftly Software · US | 2019 | 2025 | Secondary | Cove Hill Partners | – |
Aster Capital IVC2010€100M3 assets17 exitsVC2010 · 16yr€100M317
Unrealized
3 held| Company | Entry |
|---|---|
| Element Analytics Deep Tech · US | 2015 |
| SolarX Energy · France | 2025 |
| ZIZ Energie ClimateTech · Morocco | 2015 |
Realized
17 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Agilence Software · US | 2013 | 2021 | Secondary | Cuadrilla Capital | – |
| Avantium Industrials · Netherlands | 2012 | 2017 | IPO | Public markets | – |
| BuildingIQ Software · Australia | 2013 | 2015 | IPO | Public markets | – |
| Claroty Cybersecurity · Israel | 2016 | 2021 | Secondary | SoftBank Vision Fund 2 (lead) | – |
| connectBlue TMT · Sweden | 2012 | 2014 | Trade Sale | u-blox | – |
| CPower ClimateTech · US | 2012 | 2016 | Trade Sale | Constellation Energy Group | – |
| Digital Lumens ClimateTech · US | 2012 | 2017 | Trade Sale | Osram | – |
| Getaround TMT · US | 2014 | 2022 | IPO | Public markets (InterPrivate II SPAC) | – |
| Habiteo Software · France | 2016 | 2021 | Trade Sale | Bien'ici | – |
| Jet Metal Industrials · France | 2013 | 2021 | Secondary | Siparex | – |
| KGS Buildings Software · France | 2014 | 2019 | – | – | – |
| Lucibel Industrials · France | 2012 | 2014 | IPO | Public markets | – |
| Netasq Cybersecurity · France | 2010 | 2012 | Trade Sale | Cassidian (EADS) | – |
| Open Wide IT Services · France | 2012 | 2016 | Trade Sale | Smile | – |
| Ordinal Software Software · France | 2012 | 2022 | Trade Sale | Codra | – |
| Solairedirect Energy · France | 2011 | 2015 | Trade Sale | Engie | – |
| Tronics Industrials · France | 2011 | 2016 | Trade Sale | TDK (EPCOS) | – |
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.
Frequently asked questions
- What investment strategy does Aster focus on?
- Aster focuses on VC, Growth strategies in the private equity space.
- How many portfolio companies does Aster have?
- Aster has 41 active portfolio companies and 32 completed exits and 4 funds tracked on GP Intel.
- Where is Aster headquartered?
- Aster is headquartered in Paris, France.
- What is Aster's assets under management?
- Aster manages approximately €500M in assets under management.
- When was Aster founded?
- Aster was founded in 2017.
- What sectors does Aster invest in?
- Aster invests across Energy, Industrials, Software, Business Services.
- What are Aster's recent exits?
- Recent realized exits by Aster include: Advae (2025) to Orisha (former Generix Group); ENTOUCH (2025) to Respida Capital; Swiftly (2025) to Cove Hill Partners; Gridbeyond (2024) to Klima (Alantra Energy Transition Fund); d.light (2023) to Shell New Energies; Greenlight Planet (2023) to Sun King; Betterway (2023) to Edenred; Cosmo Tech (2023) to Insight Partners.
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