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).
Key facts
Recent exits
Coverage notes
5 funds tracked, 65 portfolio companies (48 active · 17 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
65 companiesFunds & portfolio
Every fund Karista has raised, with its portfolio companies. Hand-checked from public filings.
CosmiCapitalVC2021 · 5yr€38M9 active
Unrealized
9 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Industrials | Estonia | 2024 | |
| Software |  France | 2022 | |
| Aerospace & Defence |  Germany | 2023 | |
| Cybersecurity |  Switzerland | 2022 | |
| Aerospace & Defence | France | 2020 | |
| Software | France | 2022 | |
| TMT | France | 2023 | |
| Deep Tech | France | 2022 | |
| Industrials | France | 2025 |
France· Entry 2022Germany· Entry 2023Switzerland· Entry 2022France· Entry 2020France· Entry 2022France· Entry 2023France· Entry 2022France· Entry 2025Karista HealthTech FundVC2021 · 5yr€50M10 active · 1 realized
Unrealized
10 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Healthcare | France | 2021 | |
| Healthcare | France | 2024 | |
| Healthcare | France | 2021 | |
| Healthcare | France | 2019 | |
| HealthTech | Germany | 2022 | |
| HealthTech | France | 2022 | |
| HealthTech |  Belgium | 2021 | |
| Healthcare | France | 2023 | |
| Healthcare | Switzerland | 2025 | |
| Healthcare | France | 2026 |
France· Entry 2021France· Entry 2024France· Entry 2021France· Entry 2019Germany· Entry 2022France· Entry 2022Belgium· Entry 2021France· Entry 2023Switzerland· Entry 2025France· Entry 2026CapDecisif 4VC2018 · 8yr€50M7 active · 4 realized
Unrealized
7 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| TMT | France | 2018 | |
| TMT | France | 2019 | |
| Industrials | France | 2021 | |
| Software | France | 2022 | |
| HealthTech | France | 2019 | |
| TMT | France | 2020 | |
| Software | France | 2021 |
Realized
4 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Software | France | 2018 | 2022 | Trade Sale | – | ||
| Data & Analytics | France | 2016 | 2021 | Trade Sale | – | ||
| Software | France | 2021 | 2024 | – | – | – | |
| Industrials | France | 2015 | 2018 | IPO | – |
France· Entry 2021Paris Region Venture FundVCRealized2014 · 12yr€50M6 active · 2 realized
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Healthcare | France | 2021 | |
| Consumer | France | 2023 | |
| Software | France | 2022 | |
| TMT | France | 2024 | |
| Industrials | France | 2019 | |
| Construction | France | 2020 |
France· Entry 2021France· Entry 2023France· Entry 2022France· Entry 2024France· Entry 2019France· Entry 2020Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Business Services | France | 2014 | 2017 | Trade Sale | – | ||
| IT Services | France | 2014 | 2021 | Trade Sale | – |
CapDecisif 3VC2013 · 13yr€47M16 active · 10 realized
Unrealized
16 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Software | France | 2016 | |
| Mobility | France | 2013 | |
| Healthcare | France | 2016 | |
| Biotech | France | 2017 | |
| EdTech | France | 2015 | |
Nanoe | Deep Tech | France | 2012 |
| Deep Tech | France | 2016 | |
| Business Services | France | 2016 | |
| Healthcare | France | 2008 | |
| Financials | France | 2017 | |
| Software | France | 2014 | |
| Software | France | 2013 | |
| Software | France | 2015 | |
| MedTech | France | 2014 | |
| MedTech | Germany | 2015 | |
| Software | France | 2009 |
France· Entry 2016France· Entry 2013France· Entry 2016France· Entry 2017France· Entry 2015France· Entry 2012France· Entry 2016France· Entry 2016France· Entry 2008France· Entry 2017France· Entry 2014France· Entry 2013France· Entry 2015France· Entry 2014Germany· Entry 2015France· Entry 2009Realized
10 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
Acticor Biotech | Biotech | France | 2017 | 2025 | – | – | – |
| Healthcare | France | 2008 | 2018 | Trade Sale | – | ||
| Healthcare | France | 2016 | 2022 | MBO | – | ||
| Healthcare | France | 2016 | 2017 | MBO | – | ||
| Healthcare | France | 2017 | 2019 | MBO | – | ||
| TMT | France | 2015 | 2024 | Trade Sale | – | ||
| Consumer | France | 2015 | 2020 | Trade Sale | – | ||
| TMT | France | 2013 | 2026 | Trade Sale | – | ||
| Healthcare | France | 2008 | 2025 | MBO | – | ||
| TMT | France | 2014 | – | – | – | – |
France· Entry 2017France· Entry 2014Saved GPs appear in your watchlist, one click from your workspace.
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. Detailed buyer names and multiple data available on Pro at €29/month.
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