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 created by Nicolas Hazard, and spun off as INCO in 2017-2018 when Hazard acquired the majority. The management company was re-incorporated in January 2019 and is AMF-approved under GP-19000013 (AIFM directive, SFDR Article 9). Headquartered in Paris with international presence in Brussels, Amsterdam, Luxembourg, Casablanca, San Francisco, Austin and Hong Kong via the INCO Group umbrella active in 140 countries, the firm 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, formerly Aviva), Generali Impact Investing (2020), Sycomore Impact Employment by INCO (2021, Sycomore AM) and Invest Ile-de-France Seed (2024, Region Ile-de-France). It backs French social enterprises across inclusion, the circular economy, education, sustainable cities, healthcare, mobility and energy with tickets between EUR 500K and EUR 1.5M, and counts approximately 76 active portfolio companies.
Key facts
Recent exits
Coverage notes
2 funds tracked, 103 portfolio companies (98 active · 5 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
103 companiesFunds & portfolio
Every fund INCO VENTURES has raised, with its portfolio companies. Hand-checked from public filings.
INCO InvestmentVCRealized2012 · 14yr€30M55 active · 3 realized
Unrealized
55 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Business Services |  France | 2019 | |
| Healthcare | France | 2017 | |
| Software | France | 2017 | |
| HealthTech | France | 2026 | |
| Energy | France | 2020 | |
| Business Services | France | 2023 | |
| Consumer | France | 2018 | |
| Business Services |  Belgium | 2022 | |
| HR Tech | France | 2022 | |
| Energy | France | 2025 | |
| Industrials | France | 2017 | |
| Energy | France | 2017 | |
| Consumer | France | 2024 | |
| Real Estate | France | 2019 | |
| Real Estate | France | 2021 | |
| Business Services | France | 2017 | |
| AgTech | France | 2026 | |
| Industrials | France | 2018 | |
| Industrials | France | 2021 | |
| Consumer | France | 2016 | |
| Software | France | 2017 | |
| Education | France | 2022 | |
| Consumer | France | 2023 | |
| Education | France | 2023 | |
| AgTech | France | 2025 | |
| Financials | France | 2020 | |
| HealthTech | France | 2022 | |
| HealthTech | France | 2018 | |
| Industrials | France | 2019 | |
| Consumer | France | 2025 | |
| Consumer | France | 2023 | |
| Business Services | France | 2026 | |
| Healthcare | France | 2021 | |
| HealthTech | France | 2026 | |
| Business Services | France | 2017 | |
| Industrials | France | 2017 | |
| Business Services | France | 2021 | |
| Software | France | 2021 | |
| FoodTech | France | 2025 | |
| Business Services | France | 2020 | |
| Consumer | France | 2022 | |
| Hospitality | France | 2022 | |
| Real Estate | France | 2023 | |
| Healthcare | France | 2023 | |
| Industrials | France | 2026 | |
| Healthcare | France | 2025 | |
| Business Services | France | 2025 | |
| HealthTech | France | 2018 | |
| Energy | France | 2014 | |
| HealthTech | France | 2023 | |
| Education | France | 2023 | |
| Consumer | France | 2023 | |
| Healthcare | France | 2021 | |
| E-commerce | France | 2021 | |
| Healthcare | France | 2023 |
France· Entry 2019France· Entry 2017France· Entry 2017France· Entry 2026France· Entry 2020France· Entry 2023France· Entry 2018Belgium· Entry 2022France· Entry 2022France· Entry 2025France· Entry 2017France· Entry 2017France· Entry 2024France· Entry 2019France· Entry 2021France· Entry 2017France· Entry 2026France· Entry 2018France· Entry 2021France· Entry 2016France· Entry 2017France· Entry 2022France· Entry 2023France· Entry 2023France· Entry 2025France· Entry 2020France· Entry 2022France· Entry 2018France· Entry 2019France· Entry 2025France· Entry 2023France· Entry 2026France· Entry 2021France· Entry 2026France· Entry 2017France· Entry 2017France· Entry 2021France· Entry 2021France· Entry 2025France· Entry 2020France· Entry 2022France· Entry 2022France· Entry 2023France· Entry 2023France· Entry 2026France· Entry 2025France· Entry 2025France· Entry 2018France· Entry 2014France· Entry 2023France· Entry 2023France· Entry 2023France· Entry 2021France· Entry 2021France· Entry 2023Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Software | France | 2018 | 2023 | Trade Sale | – | ||
| Software | France | 2017 | 2023 | Trade Sale | – | ||
| Healthcare | France | 2017 | 2024 | Trade Sale | – |
INCO InvestissementVCRealized2011 · 15yr€20M43 active · 2 realized
Unrealized
43 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Consumer | France | 2018 | |
| Consumer | France | 2022 | |
| Business Services | France | 2015 | |
| Business Services | France | 2015 | |
| Real Estate | France | 2022 | |
| Business Services | France | 2023 | |
| Consumer | France | 2016 | |
| Consumer | France | 2023 | |
| Healthcare | France | 2023 | |
| EdTech | France | 2021 | |
| Consumer | France | 2022 | |
| Healthcare | France | 2023 | |
| Consumer | France | 2019 | |
| Real Estate | Belgium | 2018 | |
| Real Estate | France | 2019 | |
| EdTech | France | 2022 | |
| Consumer | France | 2024 | |
| Consumer | France | 2021 | |
| Education | France | 2018 | |
| Real Estate | France | 2020 | |
| Consumer | France | 2020 | |
| Industrials | France | 2015 | |
| Business Services | France | 2016 | |
| Financials |  Netherlands | 2020 | |
| Hospitality | France | 2018 | |
| Financials | France | 2016 | |
| Consumer | France | 2015 | |
| Industrials | France | 2015 | |
| MedTech | France | 2022 | |
| Healthcare | France | 2025 | |
| Real Estate | France | 2018 | |
| Business Services | France | 2019 | |
| EdTech | France | 2017 | |
| Consumer | France | 2023 | |
| Hospitality | France | 2019 | |
| Education | France | 2020 | |
| Hospitality | France | 2018 | |
| Real Estate | France | 2023 | |
| Industrials | France | 2023 | |
| Industrials | France | 2018 | |
| Industrials | France | 2023 | |
| Business Services | France | 2023 | |
| Fintech | France | 2023 |
France· Entry 2018France· Entry 2022France· Entry 2015France· Entry 2015France· Entry 2022France· Entry 2023France· Entry 2016France· Entry 2023France· Entry 2023France· Entry 2021France· Entry 2022France· Entry 2023France· Entry 2019Belgium· Entry 2018France· Entry 2019France· Entry 2022France· Entry 2024France· Entry 2021France· Entry 2018France· Entry 2020France· Entry 2020France· Entry 2015France· Entry 2016Netherlands· Entry 2020France· Entry 2018France· Entry 2016France· Entry 2015France· Entry 2015France· Entry 2022France· Entry 2025France· Entry 2018France· Entry 2019France· Entry 2017France· Entry 2023France· Entry 2019France· Entry 2020France· Entry 2018France· Entry 2023France· Entry 2023France· Entry 2018France· Entry 2023France· Entry 2023France· Entry 2023Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | France | 2019 | 2023 | Trade Sale | – | ||
| HR Tech | France | 2022 | 2025 | Trade Sale | – |
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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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France·€135MGet the full picture on INCO VENTURES.
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