Eutopia, the early-stage venture capital fund, has closed a €100 million round of funding and received B Corp Certification.

WHO: Eutopia is an early-stage venture capital fund that invests between €1 million and €8 million in sustainably-minded consumer start-ups, especially those targeting Gen Z and Millennial consumers. Their portfolio consists of beauty brands such as Oh My Cream!, Merci Handy, and Même Cosmetics.

IN THEIR OWN WORDS: “We are convinced that growth and general interest go hand in hand: All the companies we support are committed to a more sustainable world,” Antoine Fine, managing partner and co-founder of Eutopia, said in a statement. “But our responsibility as an investor does not end there. We must ourselves be direct agents of this change.”

“The B Corp accreditation and the agreement with the Make.org Foundation are perfectly in line with our corporate mission, which aims to be an economic player supporting with ambition, benevolence and transparency projects with high potential, at once good for oneself, good for the planet and good for society,” Fine added.

DETAILS:

• Eutopia has closed a €100 million round of funding with €10 million being a co-investment.
• In October 2019, a €40 million intermediate round was closed for its Eutopia II fund, marking Eutopia’s first financing after breaking away from Otium Capital in early 2019.
• The fund has 26 brands in its portfolio with registered combined sales of €40 million euros in the third quarter of 2020, a 65 percent increase versus the same prior-year period.
• Since the beginning of 2020, Eutopia has invested in Joyeuse, I-Make, Spring, Oly Be, Nous-Anti Epiceries Gaspi, and Murphy.
• The fund has received B Corp certification. Eutopia is involved in initiatives such as the United Nations Principles for Responsible Investment, Climate 2020, and Sista Initiative.