Truffle Capital
Truffle Capital is an independent European venture capital firm founded in 2001, focused on building and financing innovative companies in the Life Sciences (MedTech and Biotech) and IT sectors (FinTech and InsurTech). It manages €500 million in assets and has raised over €1.2 billion since its inception, supporting more than 120 companies with numerous successful exits.
Key facts
Recent exits
Coverage notes
3 funds tracked, 44 portfolio companies (31 active · 13 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
44 companiesFunds & portfolio
Every fund Truffle Capital has raised, with its portfolio companies. Hand-checked from public filings.
Truffle BioMedTechBuyoutharvesting2019 · 7yr€250M6 active · 1 realized
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Healthcare |  France | 2018 | |
| Healthcare | France | 2019 | |
| Healthcare | France | 2026 | |
| ClimateTech |  US | 2026 | |
| Healthcare | France | 2019 | |
| Healthcare | France | 2021 |
Truffle Financial Innovation FundVCharvesting2019 · 7yr€250M13 active · 3 realized
Unrealized
13 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Fintech | France | 2021 | |
| Fintech | France | 2022 | |
| InsurTech | Estonia | 2022 | |
| Fintech | Turkey | 2024 | |
| TMT | France | 2018 | |
| Fintech | France | 2019 | |
| SaaS | France | 2022 | |
| Fintech | France | 2019 | |
| Fintech | France | 2019 | |
| Fintech | France | 2020 | |
| InsurTech |  Belgium | 2020 | |
| Fintech |  Switzerland | 2024 | |
| TMT | France | 2023 |
France· Entry 2021France· Entry 2022France· Entry 2018France· Entry 2019France· Entry 2022France· Entry 2019France· Entry 2019France· Entry 2020Belgium· Entry 2020Switzerland· Entry 2024France· Entry 2023Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Fintech | Belgium | 2022 | 2023 | Trade Sale | – | ||
| Fintech | France | 2019 | 2024 | Trade Sale | – | ||
| TMT | France | 2016 | 2022 | Trade Sale | – |
Truffle Capital Legacy (pre-2019)VCdivesting2010 · 16yr€450M12 active · 9 realized
Unrealized
12 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Biotech | France | 2013 | |
| Industrials | France | 2011 | |
| Healthcare | France | 2008 | |
| Business Services | France | 2010 | |
| Healthcare | France | 2013 | |
| MedTech | France | 2017 | |
| Business Services | France | 2014 | |
| Energy | France | 2017 | |
| Business Services | France | 2011 | |
| Software | France | 2016 | |
| Healthcare | France | 2017 | |
| Fintech | France | 2014 |
France· Entry 2013France· Entry 2011France· Entry 2008France· Entry 2010France· Entry 2013France· Entry 2017France· Entry 2014France· Entry 2017France· Entry 2011France· Entry 2016France· Entry 2017France· Entry 2014Realized
9 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Software | France | 2016 | 2021 | Trade Sale | – | ||
| Telecom | France | 2011 | 2026 | Trade Sale | – | ||
| Fintech | France | 2015 | 2017 | Trade Sale | |||
| Cybersecurity | France | 2014 | 2016 | Trade Sale | |||
| TMT | France | 2011 | 2020 | Trade Sale | |||
| Software | France | 2017 | 2024 | Secondary | – | ||
| Software | France | 2017 | 2024 | MBO | – | – | |
| MedTech | Switzerland | 2001 | 2017 | Trade Sale | – | ||
| Software | France | 2016 | 2021 | – | – | – |
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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. Detailed buyer names and multiple data available on Pro at €29/month.
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France·€964MGet the full picture on Truffle Capital.
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