CapHorn

About CapHorn

CapHorn, formerly CapHorn Invest, is an independent French venture capital firm specialising in B2B and digital companies. Founded in 2011, it is headquartered in Paris, France, and is an AMF-regulated manager. The firm manages roughly €180 to €200 million across two main fund vehicles. Since the early 2020s CapHorn has operated under the financial structure of Anaxago, the French investment platform, and runs a distinctive club-deal model. A defining feature is its limited partner base of around 250 corporate executives and entrepreneurs, who also act as a sourcing and business-development network for portfolio companies. The flagship fund, CapHorn 2, a vintage-2017 FPCI, closed at €130 million.

Investment thesis

CapHorn pursues a venture capital strategy focused on European B2B and digital companies, investing principally at Series A and Series B with some seed activity. The firm targets enterprise software and digital companies driving market transformation, including enterprise technology, climate technology and health technology. Geography is Europe, anchored in France. Tickets typically range from about €1 million to €10 to €15 million. The limited partner base is unusual: roughly 250 corporate executives and business leaders, which gives portfolio companies privileged access to enterprise customers and decision-makers. The core value-creation lever is a trust, funding and network model, leveraging the executive limited partner community for commercial introductions and go-to-market acceleration with large corporates.

Recent activity

Recent investments include Tilak Healthcare in health technology (2023) and Kranus Health in health technology (2024), alongside enterprise-technology holdings such as Onepilot and Naboo. Recent exits include Dathena in enterprise and cybersecurity software (2022) and Saagie in enterprise and data software (2025). The platform continues to deploy across European B2B and digital companies at Series A and Series B, leveraging its executive limited partner network for commercial acceleration.

Frequently asked questions

What investment strategy does CapHorn focus on?

CapHorn focuses on VC strategies in the private equity space.

How many portfolio companies does CapHorn have?

CapHorn has 35 active portfolio companies and 10 completed exits and 2 funds tracked on GP Intel.

Where is CapHorn headquartered?

CapHorn is headquartered in Paris, France.

What is CapHorn's assets under management?

CapHorn manages approximately €200M in assets under management.

When was CapHorn founded?

CapHorn was founded in 2011.

What sectors does CapHorn invest in?

CapHorn invests across Software, Healthcare, Energy, Business Services.

What are CapHorn's recent exits?

Recent realized exits by CapHorn include: Finalcad (2025) to Orisha; Powell Software (2025) to Cathay Capital; Saagie (2025) to Scaleway; Captain Contrat (2024) to Implid; Kolsquare (2024) to team.blue; ReachFive (2024) to Purse; Exaqtworld (2024) to ITQ Group; Dathena (2022) to Proofpoint.