What investment strategy does FDJ United focus on?

FDJ United focuses on VC strategies in the private equity space.

How many portfolio companies does FDJ United have?

FDJ United has 6 active portfolio companies and 4 completed exits and 1 fund tracked on GP Intel.

Where is FDJ United headquartered?

FDJ United is headquartered in Boulogne-Billancourt, France.

What is FDJ United's assets under management?

FDJ United manages approximately €111M in assets under management.

When was FDJ United founded?

FDJ United was founded in 2015.

What sectors does FDJ United invest in?

FDJ United invests across Software, Consumer, TMT, Financials.

What are FDJ United's recent exits?

Recent realized exits by FDJ United include: Cometh (2026) to Kaiko; Mantra (2025) to Cyber Guru; Leonardo AI (2024) to Canva; Life Beyond Studios (2022) to Animoca Brands.

Home/GPs/FDJ United

DetailCard

FDJ United

Boulogne-Billancourt, France·Founded 2015·

Venture Capital

·fdjunited.com

FDJ United Ventures is the corporate venture capital arm of FDJ United plc, the European gaming group rebranded March 2025 from La Francaise des Jeux SA following the EUR 2.45bn acquisition of Kindred Group in October 2024. Launched November 2015 (initially as FDJ Ventures) with around EUR 111M deployment capacity, it makes direct minority investments of EUR 300k to EUR 3M from pre-seed through Series A. Themes include Gaming and Betting, Digital Acceleration, AI and New Tech, Retailtech, Fintech and Tech for Good. The V13 INVEST predecessor vehicle (EUR 30M launched late 2019 delegated to Serena Capital) was rolled into FDJ United Ventures post-rebrand. Confirmed exits include Leonardo AI 2024 Trade Sale to Canva (around USD 349M) and Life Beyond Studios 2022 Trade Sale to Animoca Brands. HQ Boulogne-Billancourt France.

AUM

€111M

Funds

vintages 2015

Portfolio

Exits

FDJ United is a Boulogne-Billancourt venture capital firm with €111M AUM, 6 active companies and 4 exits.

SectorsSoftware Consumer TMT Financials

Key takeaways

·4 exits in the last 5 years · consistent DPI cadence.
·Average hold across 4 realized deals: 3 years.
·Top sector focus: Software (50% of portfolio).

Sector breakdown

10 companies

Software

5 · 50%

Gaming

2 · 20%

AI/ML

1 · 10%

Cybersecurity

1 · 10%

DevTools

1 · 10%

Geography breakdown

4 geographies

France

5 · 50%

3 · 30%

Australia

1 · 10%

Spain

1 · 10%

Key facts

HQBoulogne-Billancourt, France

Founded2015

Websitefdjunited.com

Recent exits

FDJ United sold Cometh to Kaiko in 2026 after 4 years.

FDJ United sold Mantra to Cyber Guru in 2025 after 4 years.

FDJ United sold Leonardo AI to Canva in 2024 after 1 year.

FDJ United sold Life Beyond Studios to Animoca Brands in 2022 after 2 years.

Coverage notes

1 fund tracked, 10 portfolio companies (6 active · 4 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund FDJ United has raised, with its portfolio companies. Hand-checked from public filings.

1 fund

Fund

Strategy

Vintage

Size

Assets

Exits

FDJ Ventures

VC2015€111M6 assets4 exits

2015 · 11yr

€111M

Unrealized

6 held

Company	Entry
Dotfile Software · France	2023
H Company AI/ML · France	2024
nVenue Software · US	2025
PandaScore Gaming · France	2020
Prelude DevTools · US	2024
Random State Software · Spain	2025

Realized

4 exits

Company	Entry	Exit	Type	Buyer	MOIC
Cometh Gaming · France	2022	2026	Trade Sale	Kaiko	–
Leonardo AI Software · Australia	2023	2024	Trade Sale	Canva	–
Life Beyond Studios Software · US	2020	2022	Trade Sale	Animoca Brands	–
Mantra Cybersecurity · France	2021	2025	Trade Sale	Cyber Guru	–

About FDJ United

FDJ United is a French venture capital firm headquartered in Paris with capital deployed across 5 active fund vehicles. The firm deploys institutional capital across early-stage and selective growth-stage equity rounds in European technology companies, with sector focus spanning TMT, software, consumer, financials and business services.

Investment thesis

FDJ United targets European and selectively global early-stage and growth-stage technology companies across TMT, software, consumer, financials and business services, deploying institutional venture capital across seed, Series A and Series B rounds. The firm emphasises hands-on operational support during the post-investment value-creation phase, leveraging founder and operator partners alongside institutional capital to support international expansion and category leadership across France and selectively across Europe. Average equity tickets vary by stage with reserve capital preserved for follow-on rounds across the platform.

Recent activity

Realised exits across the current platform vintages remain limited, with the portfolio in active deployment and value-creation phase. The platform tracks 5 fund vehicles, 15 active portfolio companies and 0 realised exits across the strategy's history.

Frequently asked questions

What investment strategy does FDJ United focus on?: FDJ United focuses on VC strategies in the private equity space.
How many portfolio companies does FDJ United have?: FDJ United has 6 active portfolio companies and 4 completed exits and 1 fund tracked on GP Intel.
Where is FDJ United headquartered?: FDJ United is headquartered in Boulogne-Billancourt, France.
What is FDJ United's assets under management?: FDJ United manages approximately €111M in assets under management.
When was FDJ United founded?: FDJ United was founded in 2015.
What sectors does FDJ United invest in?: FDJ United invests across Software, Consumer, TMT, Financials.
What are FDJ United's recent exits?: Recent realized exits by FDJ United include: Cometh (2026) to Kaiko; Mantra (2025) to Cyber Guru; Leonardo AI (2024) to Canva; Life Beyond Studios (2022) to Animoca Brands.