Future Positive Capital
Future Positive Capital is a Paris-based seed and Series A venture capital firm founded in 2018 by Sofia Hmich (Founder and Managing Partner) with a London satellite office. The firm manages Fund I (2019 vintage, EUR 53 million) and invests EUR 500 thousand to EUR 5 million tickets into European and international deep-tech and climate-tech startups solving major planetary and human-health challenges. Sectors of focus include direct air capture, sustainable food and protein, mobility, women's health and digital therapeutics, fibre optics and AI. Portfolio includes Heirloom (direct air capture), Dendra Systems (ecosystem restoration), Cowboy (e-bikes), Clue (women's health) and Tangible (climate hardtech debt financing).
Future Positive Capital is a Paris venture capital firm with €53M AUM, 19 active companies and 4 exits.
- ·4 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 4 realized deals: 4 years.
- ·Top sector focus: ClimateTech (43% of portfolio).
Sector breakdown
23 companiesGeography breakdown
7 geographiesKey facts
Recent exits
Future Positive Capital sold Cowboy to Rebirth in 2025 after 5 years.
Future Positive Capital exited Dendra Systems in 2025 after 5 years.
Future Positive Capital sold Oxwash to Elis in 2025 after 4 years.
Future Positive Capital sold Vantage Discovery to Shopify in 2025 after 2 years.
Coverage notes
1 fund tracked, 23 portfolio companies (19 active · 4 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Future Positive Capital has raised, with its portfolio companies. Hand-checked from public filings.
Future Positive IVC2019€53M19 assets4 exitsVC2019 · 7yr€53M194
Unrealized
19 held| Company | Entry |
|---|---|
| aDryada ClimateTech · France | 2025 |
| Aerones ClimateTech · Latvia | 2022 |
| Biocol Labs Consumer · Portugal | 2023 |
| Brilliant Planet ClimateTech · UK | 2022 |
| Circulor ClimateTech · UK | 2020 |
| Clue HealthTech · Germany | 2021 |
| Conceivable Life Sciences HealthTech · US | 2022 |
| Fuse Energy · UK | 2025 |
| Heirloom ClimateTech · US | 2024 |
| Hello Vet HealthTech · UK | 2025 |
| Huma HealthTech · UK | 2020 |
| Kranus Health HealthTech · Germany | 2023 |
| Le Fourgon ClimateTech · France | 2025 |
| Naama MedTech · UK | 2023 |
| Ouihelp Business Services · France | 2018 |
| Panthalassa ClimateTech · US | 2026 |
| Sweetch Energy ClimateTech · France | 2021 |
| Tangible Fintech · UK | 2024 |
| Upway Mobility · France | 2022 |
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Cowboy Mobility · Belgium | 2020 | 2025 | Trade Sale | Rebirth | – |
| Dendra Systems ClimateTech · UK | 2020 | 2025 | – | – | – |
| Oxwash ClimateTech · UK | 2021 | 2025 | Trade Sale | Elis | – |
| Vantage Discovery Software · US | 2023 | 2025 | Trade Sale | Shopify | – |
About Future Positive Capital
Future Positive Capital is a French venture capital firm headquartered in Paris with €3 million of assets under management as of December 2024. Founded in 2018, the firm deploys institutional capital across early-stage and selective growth-stage equity rounds in European technology companies, with sector focus spanning healthcare, business services, energy and industrials.
Investment thesis
Future Positive Capital targets European and selectively global early-stage and growth-stage technology companies across healthcare, business services, energy and industrials, 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 2 fund vehicles, 22 active portfolio companies and 0 realised exits across the strategy's history.
Frequently asked questions
- What investment strategy does Future Positive Capital focus on?
- Future Positive Capital focuses on VC strategies in the private equity space.
- How many portfolio companies does Future Positive Capital have?
- Future Positive Capital has 19 active portfolio companies and 4 completed exits and 1 fund tracked on GP Intel.
- Where is Future Positive Capital headquartered?
- Future Positive Capital is headquartered in Paris, France.
- What is Future Positive Capital's assets under management?
- Future Positive Capital manages approximately €53M in assets under management.
- When was Future Positive Capital founded?
- Future Positive Capital was founded in 2018.
- What sectors does Future Positive Capital invest in?
- Future Positive Capital invests across Industrials, Energy, Healthcare, Consumer, TMT.
- What are Future Positive Capital's recent exits?
- Recent realized exits by Future Positive Capital include: Cowboy (2025) to Rebirth; Oxwash (2025) to Elis; Vantage Discovery (2025) to Shopify.
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