Truffle Capital

About Truffle Capital

Truffle Capital is an independent European venture capital firm with €1.2 billion of assets under management as of December 2024, founded in 2001 and headquartered in Paris. The firm focuses on building and financing innovative companies in Life Sciences (MedTech and Biotech) and IT sectors (FinTech and InsurTech), with the platform supporting European early-stage and growth-stage innovation across two core verticals over a multi-decade track record.

Investment thesis

Truffle deploys venture capital across two complementary verticals: Life Sciences (MedTech medical devices, Biotech drug development) and IT (FinTech, InsurTech, enterprise software). Investment stages span early-stage seed and Series A through growth equity commitments, with equity tickets typically ranging from €2 million to €30 million per transaction depending on stage and sub-vertical. The dual vertical focus enables deep scientific and technology expertise across both healthcare innovation and digital finance innovation.

Recent activity

Recent realised exits include RETENCY (software, 2024) and PHARNEXT (software, 2022), reflecting selective distribution activity across the technology portfolio. The platform tracks 3 funds, 8 active portfolio companies and 7 realised exits across the dual Life Sciences and IT venture programme.

Frequently asked questions

What investment strategy does Truffle Capital focus on?

Truffle Capital focuses on VC, Growth strategies in the private equity space.

How many portfolio companies does Truffle Capital have?

Truffle Capital has 29 active portfolio companies and 16 completed exits and 3 funds tracked on GP Intel.

Where is Truffle Capital headquartered?

Truffle Capital is headquartered in PARIS, France.

What is Truffle Capital's assets under management?

Truffle Capital manages approximately €1.2B in assets under management.

When was Truffle Capital founded?

Truffle Capital was founded in 2000.

What sectors does Truffle Capital invest in?

Truffle Capital invests across Healthcare, Financials, Software.

What are Truffle Capital's recent exits?

Recent realized exits by Truffle Capital include: AFFLUENT MEDICAL (2026) to Carvolix; Acasi (2026) to Qonto; Actility (2026) to Netmore Group; Carmat (2025) to CARMAT SAS; iPaidThat (2024) to Groupe BPCE; PHARNEXT (2024) to Pierre Bastid (Zaka) and Claude Berda (CBLux); Cake (2023) to Levenue; Particeep (2022) to Kereis.