David LESCURE

‘Le Chat’ ‘la platform’ Mistral AI artificial intelligence, France’s Startup Darling, Takes Aim at the US Market : Mistral's edge could come from customers that want to avoid being locked into particular cloud companies “Customers are even saying ‘Le Chat’ and ‘la platform’ It seems that the French touch is having an effect.” opportunity is huge — Bloomberg Intelligence estimated that the software and cloud market in generative AI market could reach $350 billion by 2032 : Mistral is going after OpenAI’s home turf “They do not want to be forced into an AI stack” “They want choices” Mistral released a series of AI models, which power generative AI services, and a ChatGPT-like feature called Le Chat : US manager says businesses are looking for alternatives to Big Tech : will find customers through these partners as well as via direct deals with companies using its open-source models. Open source is one of Mistral’s main selling points : the approach — where the underlying computer code is openly shared and tweakable — as a safer, more versatile method than closed systems offered by OpenAI and others : Mistral’s open-source models on-premises, with data stored in local servers instead of with public cloud providers ---- generative artificial intelligence ---

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The last part of this 6-part series on how to model a P&L, translated into French and published on Frenchweb. https://lnkd.in/eWHYamDD

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Let's go. Following up on the #ridiculous cost to start as self-employed in Belgium (🥉 in the cost to register, woop woop), we got to discuss what should happen to enable more citizens to #start as self-employed with Robin Gille at La Libre 🎙️. The article here (in French) ⬇️ https://lnkd.in/eVvZjcsp #Keytakeaways - The cost to register is indeed only the 1st barrier: next up are social contributions (min. nearly 900€ in 2024, before you earned your first €) - Private companies and local communities can help but, in the end, it's up to policymakers to set the frame & lower those costs. - It's up to us to push those regulators to up their game. This question isn’t just a business issue, it’s a societal one: by imposing high set-up costs, we discourage our brightest minds from pursuing their passion & entrepreneurial dreams 💭. We all lose out on potential advancements, job creation, and economic dynamism. Being self-employed already comes with many hurdles, and extra financial stress simply makes it harder. Let’s continue this conversation and build a future where everyone has the opportunity to succeed without unnecessary financial barriers ✨. Thank you Robin Gille for the nice conversation 💜

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How do you add value as an investor? 💰 Watch this investing masterclass from Alexandre Berriche, Co-Founder & CEO of Fleet, and one of Europe's top angel investors! 😇 Alex bootstrapped Fleet, which now has over 1000 clients, and he has invested in over 100 startups, working closely with Sequoia Capital and many other VCs. Takeaways: - Alex acts as a super connector, linking startups with the right people and resources. Whether it's matching companies with similar go-to-market strategies, connecting them to his vast network of clients, journalists, politicians, or other investors, his connections are invaluable. - Drawing from his own experience with Fleet, Alex offers insights on going to market with minimal budget and successfully growing internationally. His journey from zero to 1000 clients is a testament to his strategic thinking and perseverance. - Alex believes in the power of being curious, open, and a good listener. His empathetic approach helps him understand and support the unique needs of each startup he invests in. Want to dive deeper into Alex’s investment philosophy and learn from one of the most active angel investors in Europe? Links to the full episode in the comments. #startup #investing #venturecapital ____ Enjoy this? Feel free to like, share and follow for more great content. 🙌

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[🎬 Replay of the keynote of Stanislas Niox-Chateau, CEO and Cofounder of Doctolib, at the Adopt AI #Summit by Artefact] on Building the healthcare we all dream of, thanks to AI. 👉 Watch and get inspired by Stanislas Niox-Chateau on the Vision stage: https://lnkd.in/eWRQdsJZ 📖 Read the REPORT of Adopt AI with the replays & synthesis of all CEOs keynotes & key discussion panels: https://lnkd.in/e8yj2CeN 💼 After a severe back injury ended his tennis aspirations, Stanislas pivoted to academics, graduating from HEC School of Management. He co-founded Doctolib in 2013, which quickly became a leader in #ehealth across Europe, dramatically improving how patients connect with #healthcare providers. The platform serves 380,000 healthcare professionals and attracts 80 million patient visits each month. Key insights from the keynote of the CEO of Doctolib: ✔ Niox-Chateau envisions a future where healthcare professionals have access to patient #data in the right context, enhanced #medicalknowledge, and more time for #patientcare. He emphasizes the importance of simple, smart tools to enable preventive care. ✔ He believes that technology can transform how practitioners innovate in their daily work, allowing general practitioners and specialists to treat more patients and handle broader #clinicalcases efficiently. ✔ AI and technology can transform passive, traditional consultations into more dynamic, engaging experiences, benefiting both professionals and patients. Digital #healthstartups play a crucial role in this evolution. ✔ Niox-Chateau emphasizes that technology should be easy to use and have a significant impact on the daily lives of healthcare professionals. #AI can amplify these changes, opening up new possibilities. ✔ At the outset, AI will support practitioners with administrative tasks, ensuring transparency and reducing the possibility of mistakes, thereby enhancing the overall efficiency of #healthcareservices. ✔ Niox-Chateau concludes by reinforcing the potential of technology and AI to change the lives of patients and professionals, encouraging the audience to embrace these innovations for a better healthcare future. 🗣 “I believe technology, amplified by AI, can have a systemic impact on health and the lives of professionals. We dream of healthcare professionals with patient data in the right context, enhanced medical knowledge, and more time for patient care, enabled by smart and simple tools for preventive care,” says Stanislas Niox-Chateau. 👉 Watch all the replays of the Adopt AI Summit: https://lnkd.in/eDxHcR47 📅 Save the date - on November 21st, join us at the AI for Health Summit at STATION F in Paris, where Doctolib will be present to explore the future of healthcare technology! ⚕ You can already book your pass: https://lnkd.in/ej3pUNa7 

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‘Everything Is Not Going to Be OK’ in Private Equity, Apollo’s Co-President Scott Kleinman Says : Fewer realizations and lower returns are on the horizon : private equity industry must face up to the reality of lower valuations : SuperReturn conference in Berlin “I’m here to tell you everything is not going to be ok” Funds are now holding on to these companies and will eventually have to refinance at higher rates : means “fewer realizations and lower returns” are on the horizon in the industry : dealmaking is poised to accelerate this year as buyout and private credit funds face pressure to return money to their investors : Apollo is one of the world’s largest alternative asset managers, investing across credit, equity and real estate : ended last year with $651 billion of assets under management, is targeting $1 trillion by 2026 

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📊​ Last month, Bpifrance released an encouraging report highlighting the significant growth of green #technologies in France in 2023. New entrepreneurs are actively contributing to the country's reindustrialization by establishing modern, less carbon-intensive companies and promoting scientific research to address the challenges of global warming. ​ 🌿​ This wave of #green entrepreneurship is accompanied by a substantial increase in #deeptech investment, paving the way for cleaner #energy solutions and sustainable industrial breakthroughs. Additionally, it is driving the creation of numerous new jobs and fostering a more eco-friendly European economy. 🌱​ The Greentech sector, at the forefront of this transformation, is tackling major challenges such as the preservation of water and biodiversity and the development of new environmentally friendly materials. 💪​ With an ambitious vision, we can revolutionize the #IT sector through disruptive innovation—an approach we have already adopted at Exaion. We've initiated this transformation with projects such as waste heat recovery and the reuse of end-of-life materials. 🇨🇦 We are leveraging research breakthroughs, particularly in Canada, in core areas such as #quantum technology, #AI integration, #blockchain, and #cybersecurity. These advancements enable us to directly support industrial projects, catalyzing innovation and sustainability across Europe and North America. 👀​ I invite you to consult the #Bpifrance report for more insights (article in French) 👉​ https://lnkd.in/eR5Wjmn4 Cc Simon Napierala - Julien Villeret - Louise Vilain - Catherine Jouny - Mathieu Bertrane - Tiphaine David (Croville) - Anthony Mariaud - Jeanne Colombet - Laurent BERNOU-MAZARS - Christophe Rodrigues - Simon Thomas - Sébastien Pussiau - Adrien Fournillon - Emerson BAGUET - Gilles Deleuze - Joachim Simon-  Alice CHAVIGNY

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If you know an 18 yo who dream of creating a deep tech startup, they could go to a big natural sciences' university. Or… …go to a small(ish) stand alone business school🏫 Les Deeptech 🚀 from Bpifrance just released their latest analysis for #French #Deeptech, which gives us an interesting overview of the local higher education scene. Sure, HEC Paris - Innovation & Entrepreneurship Institute is ranked #4 in that list (and we are happy about it), but that’s not the really interesting part. What you should pay attention to is that we are not an anomaly. Among the top 15 listed universities, one-third are business schools! It does feel like getting a business education could bring value to science-based entrepreneurship… But what do I know? 🤷‍♂️ What we do know is that investing in research and education keeps paying dividends. And when in doubt between studying science and business, just get both degrees 😁 If you are interested, go check out the full ranking there: https://lnkd.in/eD-r8pDD PS: I know this is a list for ants, no need to call your optometrist 🔍 PPS: I will not complain about per capita measurements not being the global standard for ranking metrics

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SaaS Entrepreneurs, do you want to benchmark your KPIs ? 🎯The Serena European SaaS benchmark returns for its 4th edition! 🎯 Four years ago, we launched this public benchmark to empower every SaaS entrepreneur and investor in Europe with the data that truly matters through a valuable companion tool. The study allows SaaS players to make the most informed financial decisions. 🆕Now we're back, teaming up with Google and HubSpot to provide a playbook for building top-tier SaaS companies, that covers everything from discovering your product-market fit to scaling and beyond. This edition will give AI extra attention and include data points like NRR, ARR per employee, growth rates, burn rates, sales efficiency metrics, valuation benchmarks, funding metrics, and more. To build the most qualitative and comprehensive report, we need as many responses as possible to our survey. So if you’re a SaaS company in Europe, please make sure you fill out the survey (available below👇)! ⏳Deadline: May 31 🎁 As a participant, you'll receive the report in advance, giving you a head start on the latest industry insights and trends. Responses will remain confidential and reported collectively. And of course, feel free to shoot this to your SaaS network ;) https://lnkd.in/eN8dvRpc

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🕚Here’s a flashback to an exciting and bold VC fund launch from 2023. 💸 In November 2023 France based Ring Capital announced the 1st closing of their second growth fund – Altitude Growth II - at €125 million out of a target of €250 million, with backing from the European Investment Fund (EIF), Tikehau Capital, SWEN Capital Partners and Bpifrance. 💡 Altitude II is an impact growth fund, with tickets of €5-20m dedicated to mature companies with more than €10m in revenue and profitable or positive EBITDA that are developing solutions to meet environmental or social challenges. 🌍 #Europe 📈 The Ring Altitude Impact Growth Fund strategy has already made investment in 17 exciting companies including Karos, Castalie, YouSchool,Le Mercato de l'Emploi, LeHibou, Yespark, LiveMentor, Stych, among others. 💭 “Being focused on impact and profitable companies really helped us win over investors, especially those who had already trusted us." - Nicolas CELIER, CEO and co-founder of Ring Capital. 🗞️Maddyness https://lnkd.in/eSUY3JqY 👏 For the #AudaciousInvestors unleashing innovation and empowering tomorrow🚀 Geoffroy Bragadir I Pierre-Alexis de Vauplane I Yasmina Bekkouche I Sandra Armstrong I Alban de La Bretèche I Laure Tallon I Eve Sebag I Marie-Capucine Lemétais I Thibaut Bechetoille I Servane Metzger-Corrigou I I Laurent Babut I Charlotte Lafont I Thomas Marsal I Sibylle Behaghel I Daphné Dupont Gurs I Maria Millan I Team Ring Capital … #venturecapital #vc #funds #startups #entrepreneurs #funding #impact #tech #esg #technology #innovation #france #growthcapital #venture

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The new edition of 🇫🇷 French Tech Updates is here with everything you need to know this week including: 🚀 A new accelerator program at STATION F 💶 Startups who raised €296 million 👩‍💻 Interesting job opportunities with French startups 📆 Upcoming startup and VC events Read the full update here 👉 https://lnkd.in/eTMUZiDy #frenchtech #startups #venturecapital

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💶 𝗩𝗖 𝘅 𝗣𝗿𝗼𝗰𝘂𝗿𝗲𝗺𝗲𝗻𝘁 𝘅 𝗖𝗙𝗢𝘀 Last week, we co-hosted a CFO breakfast with France Digitale on "Why has procurement become a crucial topic for CFOs seeking to raise funds from VCs?" Here are the 3 key takeaways from the event: 1️⃣ 𝗘𝗻𝗱 𝗼𝗳 𝘁𝗵𝗲 "𝗙𝗿𝗲𝗲 𝗠𝗼𝗻𝗲𝘆 𝗘𝗿𝗮": SaaS company valuations have reverted to pre-Covid levels and series C, D, E investors have decreased, changing the funding dynamics. Investors are now prioritizing companies with a clear path to profitability to mitigate risks. 2️⃣ 𝗔 𝗺𝗼𝗿𝗲 𝗮𝗻𝗱 𝗺𝗼𝗿𝗲 𝗰𝗿𝘂𝗰𝗶𝗮𝗹 𝗿𝗼𝗹𝗲 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗖𝗙𝗢: The CFO is pivotal in managing the data room, overseeing finances, and controlling the business model. Mastering cash flow indicators like burn rate, implementing real-time KPI tracking and reporting has become essential. The CFO must adopt a strategic stance from the start, selecting the right investors and asking the right questions to optimize funding. 3️⃣ 𝗢𝗽𝘁𝗶𝗺𝗶𝘇𝗶𝗻𝗴 𝗽𝗿𝗼𝗰𝘂𝗿𝗲𝗺𝗲𝗻𝘁 𝗳𝗼𝗿 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗲𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆: Many financial problems originate in the procurement department. Implementing the right tool to effectively manage procurement, giving the right level of visibility and control while enhancing teams to promote adoption has become essential. 👉 Want to participate to our next events? Register here: https://lnkd.in/dxfexJbi Romain Libeau, Victor Cuxart, Margaux Flamant, Clément Gobet, Eric Olombel, Antoine Loudenot, Augustin Monnoyeur, CFA, Anne-Sophie Marquet, Baptiste Dupont, César Caulliez, Maxime Detony, Nicolas Pillet, Nicolas Ducharme, Ismail El khalloufi

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Watching the Roland-Garros French Open over the weekend and saw this motto: Victory belongs to the most tenacious. The failure rate of startups is high. According to recent statistics, approximately 90% of startups fail, with around 10% to 20% achieving long-term success. Various sources attribute this high failure rate to multiple factors, including under capitalization, poor product-market fit, inadequate marketing strategies, and team issues. Different industries exhibit varying failure rates. The failure rate for technology startups is around 63% within the first five years , while the failure rate for e-commerce startups is about 80%. HealthTech startups also face a high failure rate of around 80%, largely due to challenges in determining value propositions and strategy. Despite the high risk, some startups do succeed, sometimes making up for the losses of the many failures, which is why investors continue to support them. As the early stage investment market stands currently, a founder should not expect an investment based on the relative merits of a company. In other words, you may be building a great company but there’s no guarantee of an investment. This predicament requires both defensive and offensive strategies to navigate. One that we are seeing increasingly is the move toward cash flow neutral/ cash flow positive operations.

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A few weeks ago, Pauline from AA & Sons came to Refael Benadmon, Datasset’s CEO, with a burning question 🔥 Pauline leads the venture investments of AA & Sons, the family office of Romain Afflelou. AA & Sons has 130+ direct investments and has been working with Datasset for the past 3 years to monitor and value its venture portfolio. 💬 Pauline: “I see a shift in the VC industry, as an increasing number of startups in my portfolio companies aim for profitability in the next months. I really value these startups that manage to find the right balance between growth & profitability. As a fund, I wonder how to integrate these efforts into their valuation." 💬 Refael “You’re right - startups that control their costs and extend their runway have the most value these days. Let’s ask my Datasset team to work on a new valuation model that includes the profitability aspect." After weeks of hard work, we came up with a whole new valuation model to answer Pauline’s burning question - let me introduce you the “𝐁𝐮𝐫𝐧𝐢𝐧𝐠 𝐌𝐚𝐭𝐡”. Curious about how it works? Read our latest Datasset article 👉 https://lnkd.in/eEsSgUYu 😊 And reach out to Refael Benadmon or me if you want to test it on your portfolio and be among the first early adopters of the 𝐁𝐮𝐫𝐧𝐢𝐧𝐠 𝐌𝐚𝐭𝐡 The article deep dives into VC literature and metrics, featuring: The Rule of 40 Rule of 40 by Brad Feld The Rule of X by Byron Deeter and Sam Bondy from Bessemer Venture Partners The Burning Multiple by David O. Sacks The Burn Multiple by ARR by Justin Kahl and David George from Andreessen Horowitz Our unique Datasset proposal - The "𝐁𝐮𝐫𝐧𝐢𝐧𝐠 𝐌𝐚𝐭𝐡" 👇 would love to hear your thoughts / comments 👇

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Market News 7/7/2024 SUPRISE! SUPRISE! SUPRISE! The European Markets continue their surprises as France's far left comes out at the top. With Macron's party coming second and far right coming third. Our analysis: A divided parliament in France questions whether it can keep debt levels under control. France is facing a challenging fiscal position and the European Commission put France under an Excessive Deficit Procedure due to its failure to keep its budget deficit within 3% percent of GDP. The market has been volatile with 70-75 bps of French bonds over German bonds, but generally, there has not been much movement in the markets. The outcome was better than expected for many as it was better than the far-right party wins many predicted based on earlier polls. The leftist party plans to implement a 10% pay rise for civil servants, raise housing subsidies by 10%, and hire more teachers and healthcare workers. This is said to be financed by taxing the wealthy, which as the markets worry as the French government ended the year with a 5% deficit an increase from the previous year. France being the second largest economy in Europe an ample effect in the markets with a 10% move in the markets can have a change in the Stoxx 600. The real question would be how France will form the government and how they will run their legislations. With both governments planning to curb economic growth spending, but both left and right parties agreeing on different topics, there will continue to be volatility in the markets. As the PM retires, we believe the leftist party will probably have someone from their side probably their party head Jean-Luc Mélenchon take that position, who is known for his opposite stance on the Israel-Hamas war. Short-term expect some market volatility as the parties will come together to form a government, elect a president, and plan their spending and how they will finance it. Long term keep close attention to their debt levels as tax increases the question is how much, as wages with an average economic growth would need high increases in taxes, or increase deficit spending which will increase yields on the bond markets even with lower rates.

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Ending the week on a high note, I am delighted to announce that INDEFI x SINGULIER has successfully conducted the Strategic and Digital vendor due diligence for Nutripure. This collaboration not only showcases our e-commerce expertise but also strengthens our presence in the health and wellness sector - an area we are passionate about. Founded in 2018, Nutripure is an online pure player specialised in the development and distribution of premium food supplements and sports nutrition products. The brand has quickly become a market leader, known for its holistic approach to health, sport, and wellness. Nutripure empowers individuals to unlock their physical and mental potential while optimising their health. Looking ahead, PAI Partners' investment will fuel Nutripure’s growth, drive new product development and innovation, and enhance its presence in the health and sports communities. On completion of the transaction, PAI Partners will be the majority shareholder, alongside the founders and Bpifrance. 👏 A heartfelt congratulations to Nutripure’s management team Christophe Carrio, Florent Carrio, Clément Thibault, alongside PAI Partners Lyna Lalami, Stefano Drago, and Yasmine Karger (Bourenane), as they embark on this new journey together. It’s been a pleasure to collaborate with you! 🙏I also want to extend my heartfelt thanks to the team at Natixis Partners, François Rivalland, Guillaume du Repaire, Veran Berard-Quelin, Elvire Sds, Théo Pijoulat. And of course, a special shoutout to our dedicated Digital & Strategy team: David Toledano, Mathieu FEREL, Nicolas Lamour, Clara Thery, Maxime Lapraye, Abbi Stolagiewicz, Ali Hayek, and Corentin HARDY. Your contributions have been instrumental in the success of this deal. #VDD #DigitalStrategy #Singulier #Indefi #Ecommerce #BusinessGrowth #HealthSector #WellnessSector #PrivatEquity #DealNews

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