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The Venture Codex

Ternel

156, Rue de l'Université, Paris, Île-de-France, 75007, France

Overview

Venture capital firm investing in early-stage tech innovation companies.

Founded

2015

Deals · 12mo

5

Links

WebsiteLinkedIn

Stage focus

Seed

Geographic focus

France
Germany

Sector focus

—

Investment portfolio

9rounds
NAMEDATESIZE
Relaisanté
Sep 2026Participated
$7 MOther Equity
Strong by Form
Sep 2026Participated
$7 MSeries A
Cosma
Sep 2026Participated
$2 MSeed
Fairglow
Mar 2026Led
$3 MSeed
Naboo
Feb 2026Participated
$70 MSeries B
Edflex
Oct 2025Participated
$18 MOther Equity
Cosma
Jun 2025Led
$3 MOther Equity
Qomon
Jun 2025Led
$6 MOther Equity
Sopht
Jun 2024Led
$4 MSeed
Relaisanté
Sep 2026Participated
$7 MOther Equity
Strong by Form
Sep 2026Participated
$7 MSeries A
Cosma
Sep 2026Participated
$2 MSeed
Fairglow
Mar 2026Led
$3 MSeed
Naboo
Feb 2026Participated
$70 MSeries B
Edflex
Oct 2025Participated
$18 MOther Equity
Cosma
Jun 2025Led
$3 MOther Equity
Qomon
Jun 2025Led
$6 MOther Equity
Sopht
Jun 2024Led
$4 MSeed
9
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Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Ternel: 9 funding rounds are recorded in the selected participation categories.All available history.
Ternel: 9 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed21
Series A01
Series B01
Other Equity22

Monthly Deal Activity

Ternel: 9 deals are recorded across 29 months.All available history.
Ternel: 9 deals are recorded across 29 months. All available history
MonthDeals
Jun '241
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '252
Jul '250
Aug '250
Sep '250
Oct '251
Nov '250
Dec '250
Jan '260
Feb '261
Mar '261
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '263
Oct '260

Sector Breakdown

Ternel: Enterprise Software is the largest displayed sector by deal count (4 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Ternel: Enterprise Software is the largest displayed sector by deal count (4 deals). All available history
SectorDeals
Enterprise Software4
Professional Services4
Clean Energy & Sustainability3
Data, Analytics & IT3
Government & Defense2
Travel & Hospitality1
Education & Workforce1
Real Estate & Construction1
Space & Frontier Tech1
Transportation & Logistics1
Consumer & Lifestyle1
Networks, Cloud & Communication1
Manufacturing1
Media & Entertainment1
Health & Life Sciences1

Deal Size Distribution

Ternel: 9 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Ternel: 9 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M4
$5M-$10M3
$10M-$25M1
$25M-$50M0
$50M-$100M1
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Ternel: Europe has the largest recorded deal count among the displayed regions (9 deals).All available history.

Top 1 of 1 regions; European countries are grouped as Europe.

Ternel: Europe has the largest recorded deal count among the displayed regions (9 deals). All available history
RegionDeals
Europe9
Ternel: 20 co-investors are shown, with 50 Partners sharing 2 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Ternel: 20 co-investors are shown, with 50 Partners sharing 2 recorded deals. All available history
Co-investorShared deals
50 Partners2
Caisse d'Épargne Côte d'Azur2
Ifremer2
Ring Capital2
Wind Capital2
AFI Ventures1
Aquiti Gestion1
Asterion Ventures1
Axel Carbon Capital (CoreAngels Climate)1
Axeleo Capital1
boisei investments1
Bpifrance1
Climate Club1
CMPC Ventures1
Educapital1
Elaia1
Evolem1
FINSA1
Good Only Ventures1
ISAI1

Investment Strategy

Ternel: Led accounts for 44% and participating for 56% of round participation.All available history.
Ternel: Led accounts for 44% and participating for 56% of round participation. All available history
CategoryDeals (count)Share (%)
Led444%
Participating556%
Ternel: Single-lead accounts for 0% and co-led for 100% of lead dynamics.All available history.
Ternel: Single-lead accounts for 0% and co-led for 100% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led4100%

Team

Alexandre Joulié

VC - Principal

Anna Lamy
Arthur BERTHOD
Gabrielle Bricks
Juliette Huot

Senior Associate

Mohamed Abdesslam

Investment Director

Rodrigue Leroy

Board Member

Timothée Poulain

VC, Investment Director

Yann Spatafora

VC, Senior Associate