INCO VENTURES
INCO Ventures is a Paris-based impact venture capital firm founded in 2011 as Le Comptoir de l'Innovation (the impact arm of Groupe SOS by Nicolas Hazard) and spun off as INCO in 2017-2018 when Hazard acquired the majority. The management company INCO Ventures SAS (SIREN 844649574) was re-incorporated in January 2019 and approved by AMF under GP-19000013 (AIFM directive, SFDR Article 9). Headquartered at 20 rue Clavel 75019 Paris with international presence in Brussels Amsterdam Luxembourg Casablanca San Francisco Austin and Hong Kong via the INCO Group umbrella (140-country mission). INCO Ventures manages approximately EUR 500M in advised assets across two evergreen flagship vehicles (INCO Investissement 2011 EUR 20M and INCO Investment 2012) plus four captive funds advised for institutional LPs: Abeille Impact Investing France (2014 Abeille Assurances ex-Aviva), Generali Impact Investing (2020), Sycomore Impact Employment by INCO (2021 Sycomore AM), and Invest Ile-de-France Seed (2024 Region Ile-de-France). The firm backs French social enterprises across inclusion ecologie-circulaire education ville-durable healthcare mobility and energy with tickets between EUR 500K and EUR 1.5M. Portfolio counts approximately 76 active social impact companies. Pattern: impact-VC-with-LP-financed-captives 12th instance.
Key facts
Recent exits
Coverage notes
2 funds tracked, 61 portfolio companies (58 active · 3 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund INCO VENTURES has raised, with its portfolio companies. Hand-checked from public filings.
INCO InvestmentVC2012 · 14yr€30M38 active · 2 realized
Unrealized
38 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Académie des Métiers d'Arts | Business Services | France | 2019 |
| ALIMA | Healthcare | France | 2017 |
| Auticiel | Software | France | 2017 |
| Coq en pâte | Consumer | France | 2018 |
| Each One | HR Tech | France | 2022 |
| Ecair | Energy | France | 2025 |
| Ecomouton | Industrials | France | 2017 |
| Enercoop | Energy | France | 2017 |
| Ethi'Kdo | Consumer | France | 2024 |
| Etic | Real Estate | France | 2019 |
| Fondation pour le Logement Social | Real Estate | France | 2021 |
| Groupe ID'EES | Business Services | France | 2017 |
| Hydrao | Industrials | France | 2018 |
| Iadys | Industrials | France | 2021 |
| Jimini's | Consumer | France | 2016 |
| Kawaa | Software | France | 2017 |
| Label Emmaüs | Consumer | France | 2023 |
| Le Printemps des Terres | AgTech | France | 2025 |
| Les 3 Colonnes | Financials | France | 2020 |
| Ludocare | Healthcare | France | 2022 |
| Lyv | Healthcare | France | 2018 |
| MAKE ICI | Industrials | France | 2019 |
| Making Waves | Consumer | France | 2025 |
| Marguerite & Cie | Consumer | France | 2023 |
| Matrice | Business Services | France | 2026 |
| Médecins du Monde | Healthcare | France | 2021 |
| MindDay | Healthcare | France | 2026 |
| Montrieux | Business Services | France | 2017 |
| Moulinot | Industrials | France | 2017 |
| My Jugaad | Business Services | France | 2021 |
| MyFuture | Software | France | 2021 |
| Oncovia | Consumer | France | 2022 |
| Plateau Urbain | Real Estate | France | 2023 |
| Proclus | Industrials | France | 2026 |
| PyxiScience | Healthcare | France | 2025 |
| ReSoil | Business Services | France | 2025 |
| Susu | Healthcare | France | 2023 |
| Zenior | Healthcare | France | 2023 |
Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Klaxit | Software | France | 2017 | 2023 | Trade Sale | – | |
| Telegrafik | Healthcare | France | 2017 | 2024 | Trade Sale | – |
INCO InvestissementVC2011 · 15yr€20M20 active · 1 realized
Unrealized
20 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Ammareal | Consumer | France | 2022 |
| Arcavs | Business Services | France | 2015 |
| Archer | Business Services | France | 2015 |
| Bellevilles | Real Estate | France | 2022 |
| Bibliothèques Sans Frontières | Business Services | France | 2023 |
| Citiz Network | Consumer | France | 2023 |
| DreamAct | Consumer | France | 2022 |
| Envie Autonomie | Healthcare | France | 2023 |
| GreenGo | Consumer | France | 2024 |
| Groupe Coopératif Demain | Consumer | France | 2021 |
| Karethic | Consumer | France | 2020 |
| La Varappe | Industrials | France | 2015 |
| Lemon Tri | Business Services | France | 2016 |
| Lendahand | Financials | Netherlands | 2020 |
| LITA | Financials | France | 2016 |
| Petit Bain | Consumer | France | 2015 |
| Phenix | Industrials | France | 2015 |
| Phitech | MedTech | France | 2022 |
| Sinny & Ooko | Consumer | France | 2023 |
| Vulkam | Industrials | France | 2023 |
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About INCO VENTURES
INCO VENTURES is a French venture capital firm headquartered in Paris with €500 million of assets under management as of December 2024. Founded in 2019, the firm deploys institutional capital across early-stage and selective growth-stage equity rounds in European technology companies, with sector focus spanning energy, healthcare, consumer, industrials and software.
Investment thesis
INCO VENTURES targets European and selectively global early-stage and growth-stage technology companies across energy, healthcare, consumer, industrials and software, 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
Recent realised exits include Klaxit (TMT, 2023). The platform tracks 4 fund vehicles, 43 active portfolio companies and 1 realised exit across the strategy's history. Detailed buyer names and multiple data available on Pro at €29/month.
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