Karista
Karista is a Paris-based European early-stage venture capital firm founded in 2001 as CapDecisif Management and rebranded as Karista in June 2020. Headquartered in the 16th arrondissement of Paris and licensed by the French AMF (GP 07000047), the firm manages around EUR 134 million across six active vehicles spanning healthtech, deeptech (space and defence) and digital. Karista has backed more than 90 startups since inception, deploying tickets from seed to Series B-plus, typically between EUR 500K and EUR 5 million. The platform operates the Paris Region Venture Fund (EUR 50M, 2014, anchored by the Ile-de-France region and the European Commission's FEDER programme), the CapDecisif IV Digital Health Fund (EUR 50M, 2020), the Karista HealthTech Fund (Karista V, 2021) and CosmiCapital (a NewSpace fund with a EUR 38M first close in 2021 and CNES and Bpifrance as cornerstone LPs), and is preparing KTechII for a first close in 2026. The firm is led by co-founders Olivier Dubuisson (Chairman, Managing Partner Digital and Engineering) and Catherine Boule (Managing Partner Healthcare, joined 2003), with partners Yvan-Michel Ehkirch (Digital, DeepTech, Space and Defence) and Baudouin Hue (Healthcare and Digital Health, joined 2014).
Karista is a Paris venture capital firm with €134M AUM, 48 active companies and 17 exits.
- ·10 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 16 realized deals: 6 years.
- ·Fund cadence: ~2Y between vintages · last raise 2021.
Sector breakdown
65 companiesGeography breakdown
5 geographiesKey facts
Recent exits
Karista sold Stereolabs to Ouster in 2026 after 13 years.
Karista exited Acticor Biotech in 2025 after 8 years.
Karista sold Watchfrog to Management in 2025 after 17 years.
Karista exited MyPL in 2024 after 3 years.
Coverage notes
5 funds tracked, 65 portfolio companies (48 active · 17 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Karista has raised, with its portfolio companies. Hand-checked from public filings.
CosmiCapitalVC2021€38M9 assetsVC2021 · 5yr€38M9–
Unrealized
9 held| Company | Entry |
|---|---|
| 10Lines Industrials · Estonia | 2024 |
| Bfore.AI Cybersecurity · France | 2022 |
| Constellr Aerospace & Defence · Germany | 2023 |
| Cysec Cybersecurity · Switzerland | 2022 |
| Exotrail Aerospace & Defence · France | 2020 |
| LeanSpace Deep Tech · France | 2022 |
| Look Up TMT · France | 2023 |
| Miratlas Deep Tech · France | 2022 |
| TiHive Industrials · France | 2025 |
Karista HealthTech FundVC2021€50M10 assets1 exitsVC2021 · 5yr€50M101
Unrealized
10 held| Company | Entry |
|---|---|
| Brightflow HealthTech · France | 2021 |
| Deemea MedTech · France | 2024 |
| Deo Care HealthTech · France | 2021 |
| Incepto HealthTech · France | 2019 |
| Kranus Health HealthTech · Germany | 2022 |
| Ludocare HealthTech · France | 2022 |
| moveUP HealthTech · Belgium | 2021 |
| RebrAIn HealthTech · France | 2023 |
| SamanTree Medical MedTech · Switzerland | 2025 |
| Waiv Healthcare · France | 2026 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Phaxiam Biotech · France | 2018 | 2023 | IPO | Euronext Paris IPO + Erytech merger | – |
CapDecisif 4VC2018€50M7 assets4 exitsVC2018 · 8yr€50M74
Unrealized
7 heldRealized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Appscho EdTech · France | 2018 | 2022 | Trade Sale | Ready Education | – |
| Linkfluence Data & Analytics · France | 2016 | 2021 | Trade Sale | Meltwater | – |
| MyPL Software · France | 2021 | 2024 | – | – | – |
| Navya Mobility · France | 2015 | 2018 | IPO | Euronext NAVYA IPO | – |
Paris Region Venture FundRealizedVC2014€50M6 assets2 exitsVC2014 · 12yr€50M62
Unrealized
6 held| Company | Entry |
|---|---|
| BabySafe Healthcare · France | 2021 |
| Beev Mobility · France | 2023 |
| Humanlinker Software · France | 2022 |
| L'Atout TMT · France | 2024 |
| Tallano Technologies Mobility · France | 2019 |
| Vestack Construction · France | 2020 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Concentrix KYC Services Business Services · France | 2014 | 2017 | Trade Sale | Concentrix | – |
| Web Geo Services IT Services · France | 2014 | 2021 | Trade Sale | CAPZA | – |
CapDecisif 3VC2013€47M16 assets10 exitsVC2013 · 13yr€47M1610
Unrealized
16 held| Company | Entry |
|---|---|
| Actvt Software · France | 2016 |
| Clem' Mobility · France | 2013 |
| E(ye)Brain MedTech · France | 2016 |
| Endodiag MedTech · France | 2017 |
| Lingua Attack EdTech · France | 2015 |
| Nanoe Deep Tech · France | 2012 |
| Nexdot Deep Tech · France | 2016 |
| Nokad Business Services · France | 2016 |
| Oralance Pharma Pharma · France | 2008 |
| PayinTech Fintech · France | 2017 |
| Precogs Software · France | 2014 |
| Revers.io Software · France | 2013 |
| Serious Factory Software · France | 2015 |
| Tissium MedTech · France | 2014 |
| TriCares MedTech · Germany | 2015 |
| Up & Net Software · France | 2009 |
Realized
10 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Acticor Biotech Biotech · France | 2017 | 2025 | – | – | – |
| Axess Vision Technology MedTech · France | 2008 | 2018 | Trade Sale | The Surgical Company | – |
| Minka Therapeutics Biotech · France | 2016 | 2022 | MBO | Management | – |
| Physikron Healthcare · France | 2016 | 2017 | MBO | Management | – |
| PulseSight Therapeutics Biotech · France | 2017 | 2019 | MBO | Management | – |
| Red Technologies Telecom · France | 2015 | 2024 | Trade Sale | CONX Corp (NYSE) | – |
| Sevenhugs Consumer · France | 2015 | 2020 | Trade Sale | Qorvo | – |
| Stereolabs TMT · France | 2013 | 2026 | Trade Sale | Ouster | – |
| Watchfrog Biotech · France | 2008 | 2025 | MBO | Management | – |
| Worldcrunch TMT · France | 2014 | – | – | – | – |
About Karista
Karista is a venture capital platform based in Paris with capital deployed across 6 active fund vehicles and a founding year of 1992. The firm targets European and selectively global technology companies across healthcare, software and TMT, with capital deployed across early-stage and Series A/B rounds alongside institutional limited partners.
Investment thesis
The platform deploys venture capital into healthcare, software and TMT categories with a focus on technology-enabled businesses across France and selectively across Europe. Investment focus spans seed and growth stages with capital deployed across multiple rounds per portfolio company, supporting founder teams through international scaling and selective M&A activity. The fund structure enables longer holding periods than typical venture vehicles, supporting category-leadership outcomes in technology platforms with global ambitions.
Recent activity
Recent realised exits include Red Technologies (software, 2025), Watchfrog (software, 2025), Linkfluence (software, 2022) and Minka Therapeutics (healthcare, 2022). The platform tracks 6 fund vehicles, 37 active portfolio companies and 10 realised exits across the strategy's history.
Frequently asked questions
- What investment strategy does Karista focus on?
- Karista focuses on VC strategies in the private equity space.
- How many portfolio companies does Karista have?
- Karista has 48 active portfolio companies and 17 completed exits and 5 funds tracked on GP Intel.
- Where is Karista headquartered?
- Karista is headquartered in Paris, France.
- What is Karista's assets under management?
- Karista manages approximately €134M in assets under management.
- When was Karista founded?
- Karista was founded in 2001.
- What sectors does Karista invest in?
- Karista invests across Healthcare, TMT, Software, Industrials, Financials.
- What are Karista's recent exits?
- Recent realized exits by Karista include: Stereolabs (2026) to Ouster; Watchfrog (2025) to Management; Red Technologies (2024) to CONX Corp (NYSE); Phaxiam (2023) to Euronext Paris IPO + Erytech merger; Appscho (2022) to Ready Education; Minka Therapeutics (2022) to Management; Linkfluence (2021) to Meltwater; Web Geo Services (2021) to CAPZA.
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