Introduction

In a significant development for the European venture capital scene, Pia d’Iribarne, formerly of Accel and Stride, is leading a new early-stage investment firm called New Wave. Co-founded with French entrepreneur and investor Xavier Niel, TechCrunch has learned that this debut fund of $56 million was raised in just three months and has already begun making investments.

Targeting European Startups

New Wave is targeting seed and pre-seed startups across Europe, as well as European founders farther afield. The firm’s cheque sizes will be between €500,000 and €2 million, with New Wave both leading and co-investing in rounds. According to sources, the approach will be collaborative, investing alongside and playing nicely with Europe’s business angels and other seed firms.

Meet Pia d’Iribarne

Pia d’Iribarne is taking on the role of managing partner at New Wave and is also a co-founder of the new firm. Working closely with her on investments is New Wave partner and co-founder Jean de La Rochebrochard, who will continue to run Kima Ventures, Xavier Niel’s angel investment vehicle.

Pia d’Iribarne’s Background

D’Iribarne was most recently a partner at Stride, where she led the investments in Strapi, Impala, and Jow. Before that, she was at Accel, investing in Doctolib, Framer, Payfit, Selency, and Shift Technology. She started her career at McKinsey & Company.

Meet Jean de La Rochebrochard

De La Rochebrochard is French-born and has been running Niel’s venture arm for five years. He has invested in close to 500 companies at seed stage and has also been involved through larger commitments in Zenly, Payfit, Dice, Ibanfirst, Nabla, Alan, Impala, and OpenClassrooms.

Other Co-Founders

New Wave’s other co-founders are Antoine Martin (co-founder and CEO of Zenly and a prolific angel investor) and Alex Yazdi (founder of Voodoo and experienced angel investor).

High-Profile LPs

Sources tell us that New Wave has attracted a number of high-profile limited partners, including Yuri Milner of DST, Peter Fenton from Benchmark, Philippe Laffont from Coatue, and Tony Fadell of Nest and Apple fame. In addition to Niel, these LPs represent some of the most prominent names in European venture capital.

New Wave’s Approach

According to our sources, New Wave will be taking a collaborative approach to investing. This means that they will not only lead rounds but also co-invest alongside other investors, including Europe’s business angels and seed firms.

The Impact of New Wave

New Wave is set to bring significant investment opportunities for European startups. With its debut fund of $56 million raised in just three months, the firm has already begun making investments. Its focus on seed and pre-seed rounds will provide much-needed support for early-stage founders across Europe.

Conclusion

With Pia d’Iribarne at the helm and a team of experienced co-founders, New Wave is poised to make a significant impact in the European venture capital scene. As one of the most promising new players in the market, we can expect to see much more from this firm in the coming months.

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