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Serena Capital is a European venture capital firm investing in technology companies from pre-seed to early-growth. It focuses on Applied AI, Energy Transition, data infrastructure, impact, and consumer innovation. The firm employs an "Investment–Operating" model, providing strategic and execution support through operational experts and a community platform. This equips portfolio companies with resources for accelerated growth and market presence.
Founded in 2008, Serena Capital emerged from its team's entrepreneurial vision, aiming to be the venture capital partner they desired. Over half its team consists of seasoned operators who have founded or led companies. This entrepreneurial background and operational insight guide the firm’s agile investment strategy, enabling proactive investment in emerging transitions.
The firm targets bold entrepreneurs across Europe and the US, aspiring to cultivate global category leaders. Serena Capital empowers these innovators to create a better world through transformative ventures. They offer a patient investment horizon, enabling "outliers" to construct resilient, world-class companies destined to excel.
Key people at Serena Capital.
Serena Capital is a Paris-based venture capital firm specializing in seed, early-stage, and growth investments in companies with proven business models. Its investment philosophy centers on a founder-first approach, leveraging deep entrepreneurial experience to support startups across various sectors, with a strong focus on applied artificial intelligence (AI) and climate technology. The firm actively invests in startups that advance digital intelligence and technologies that reduce carbon risk, such as climate risk insurance, sustainable energy, and carbon tech. Serena Capital plays a significant role in the European startup ecosystem by providing not only capital but also hands-on operational support through its network of senior operators and sustainability experts, helping portfolio companies scale effectively[1][2][4].
Founded in 2008 by Xavier Lorphelin and Marc Fournier, Serena Capital emerged from a desire to be the kind of venture capital firm its founders wished existed when they were entrepreneurs themselves. The firm has evolved to become one of Europe’s most disciplined and founder-centric VCs, with a team including partners like Sébastien Le Roy, Olivier Martret, and Paul Moriou. Over time, Serena has expanded its focus to include not only digital and SaaS companies but also climate tech ventures, reflecting broader market trends and the growing importance of sustainability in technology investments[2][4].
Serena Capital is riding the convergence of AI and climate tech trends, two sectors experiencing rapid innovation and significant market demand. The timing is critical as Europe intensifies its focus on climate transition and digital transformation, creating fertile ground for startups in these domains. Serena’s investments help accelerate the adoption of technologies that address climate risk and sustainability challenges while also advancing data-driven business models. By combining deep sector expertise with active operational support, Serena influences the broader ecosystem by enabling startups to scale efficiently and responsibly, contributing to Europe’s leadership in sustainable innovation[2].
Looking ahead, Serena Capital is poised to continue expanding its influence in applied AI and climate technology, supported by its recently closed €200 million fund targeting €250 million by 2026. The firm’s founder-first, hands-on approach and strong network position it well to capitalize on emerging trends such as ESG integration and digital intelligence scaling. As climate tech and AI become increasingly intertwined with global economic priorities, Serena’s role as a key financier and strategic partner to startups will likely grow, further shaping the European venture capital landscape and driving impactful innovation[2].
Key people at Serena Capital.
Serena Capital has more than 26 tracked investments across 25 companies. The latest tracked deal is $40.0M Series U in Pelico in June 2025.
