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The Venture Codex

Truffle Capital

62 Rue de Miromesnil, Paris, Ile-de-France, 75008, France

Overview

Truffle Capital is an independent, European venture capital firm focused on disruptive technologies in IT (FinTech and InsurTech) and Life Sciences (BioTech and MedTech). Truffle Capital aims to support the creation and growth of young innovative companies with the potential to become tomorrow’s market leaders. Chaired by Patrick Kron, alongside the company’s founders and CEOs, Philippe Pouletty and Bernard-Louis Roques, Truffle Capital raised over $1 billion and has supported over 75 companies since its creation, in the digital technologies and life sciences sectors. At the end of 2017, Truffle Capital successfully completed the first close of its two new institutional funds, Truffle Financial Innovation Fund and Truffle BioMedTech Fund, as well as the first close of a fund dedicated to the French Reserve Fund (« Fonds de Réserve pour les Retraites » or « FRF »). On May 2019, Truffle Capital is a company of 24 professionals from various nationalities (French, Italian, English, Chinese…), passionated by the trade of financing innovation.

Total investments
23
Lead investments
14
Investments · 12mo
2
Active investors
9

Sector focus

  • Finance
  • Financial Services
  • FinTech
  • Venture Capital
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Investment portfolio

  • Seacure

    Participated · Equity · Jun 2026

    Founded in 2011, Seacure develops a patented artificial rock system called Geocorail to protect shorelines, maritime works, and regenerate marine biodiversity. The company operates in France and internationally, with deployments cited in Spain and Dubai. It is a Marseille-based scale-up with 16 employees. Seacure has completed multiple funding rounds, including a €2.7 million raise in 2021 and a recent €7.4 million capital increase in 2024. Management states the new funding will support an industrial and commercial acceleration phase to scale deployment. The company’s operations focus on coastal protection and environmental regeneration through its proprietary Geocorail technology.

  • Hydrosat

    Participated · Series B · Jan 2026

    Hydrosat operates a thermal-infrared satellite constellation combined with AI and machine-learning analytics to provide daily, field-scale “thermal intelligence.” With two satellites already in orbit, the company collects more than 10 million km² of imagery per day—an order-of-magnitude increase over existing commercial alternatives. Its data are used to monitor water consumption, optimize irrigation, detect vegetation stress, and generate temperature-based signals for defense and intelligence customers, even at night. Hydrosat’s platform currently oversees millions of hectares for clients such as NOAA, the National Reconnaissance Office, Bayer, SupPlant and Nutradrip. The firm plans to expand its presence in Central Asia, the Middle East and North Africa, India and Latin America while building a larger next-generation satellite fleet and broadening its crop and water-management solutions. The newly raised capital strengthens its balance sheet and supports this global expansion strategy.

  • Wyden

    Led · Series B · Nov 2024

    Wyden builds institutional infrastructure that covers the full digital asset trade lifecycle, supporting front-, middle- and back-office functions and full trade lifecycle automation. The platform integrates with custody, core banking and portfolio management systems. Current clients include banks and brokers such as Banque Delubac, Smartbroker+, Baader Bank, Luzerner Kantonalbank and InCore Bank, and the company is in active discussions with potential Tier 1 and Tier 2 banks and brokers pursuing CASP licenses. Wyden recently launched Wyden Infinity, a cloud-native flagship product to support full automation of the digital asset trade lifecycle. The company plans to expand beyond Europe into regulated markets including the EU, Switzerland, Turkey, the UAE, Singapore, Hong Kong and Brazil. Wyden aims to onboard up to 20 additional banks, brokers and exchanges in 2025 and grow its team to about 100 professionals to accelerate product development and global sales. AlgoTrader offers a modular digital asset trading platform that orchestrates the entire trade lifecycle, from pre-trade risk checks and order generation to automated settlement and custody reconciliation. Its platform supports direct market access, custody and core banking integration, and full trade lifecycle automation, targeting banks, prime brokers, OTC desks, market makers and crypto funds. The company emphasizes a modular approach that differentiates it from pure OEMS providers. AlgoTrader reported a record growth in 2021, including an ARR increase of 200% in Q4 alone. The firm has raised $11.1 million in total to date and will use new capital to further roll out its platform globally and to drive platform and team development. Management has stated the round also positions the company to pursue an upcoming Series B. AlgoTrader operates two business lines serving traditional finance and crypto finance through a single, fully integrated algorithmic platform. The platform handles the buying and selling of both traditional and digital assets and allows users to fully automate trading from strategy to execution. Founded in 2014 by Andy Flury, the company is Zurich-based. Leadership says AlgoTrader has built one of the world’s most powerful quantitative trading and trade execution platforms and will use new funding to develop its own technology. With the new capital the firm aims to strengthen Switzerland’s financial leadership and the domestic digital-asset ecosystem. The company expects pending Swiss legislation on crypto securities could act as a springboard for growth. AlgoTrader provides a fully integrated, event-driven algorithmic trading platform written in Java that enables buy-side and sell-side firms to develop, simulate, automate and deploy quantitative trading strategies. The platform supports any instrument type and market and was initially designed for equities, futures, forex and options. AlgoTrader now fully supports automated and algorithmic trading in cryptocurrencies. The product is available on-premise or in the cloud and is designed to give users control over their trading experience for consistent results. The company intends to use the proceeds of its recent financing to continue to expand its business reach. AlgoTrader was founded in 2014 by Andy Flury.

  • Obat

    Participated · Series A · Nov 2023

    Obat provides a SaaS solution that helps VSEs and SMEs in the construction sector manage quotes, invoices, worksites, margins and overall financial health. The product targets tradespeople, entrepreneurs and business leaders in building and civil engineering. The company reports 15,000 active customers across France, Belgium and Switzerland. Obat was founded in 2019 by Franck Asseray and Florent Liagre and is headquartered in Nantes. The firm plans to use new capital to accelerate growth and further position itself as the reference platform for construction artisans. Obat intends to expand its team, planning to recruit 50 additional employees.

  • Levenue

    Led · Series A · Nov 2023

    Levenue operates a marketplace where subscription-based companies can sell forecasted subscription cash flow as collateral to institutional investors for non-dilutive financing. The platform is active in 12 European countries and has deployed over €300 million to subscription companies since launching in 2021. Levenue acquired Cake, an open banking and data enrichment technology provider, to boost underwriting efficiency and accuracy. The company is led by CEO Benjamin Rieder and is headquartered in Breda, the Netherlands. Levenue intends to use the new funding to accelerate growth and scale its operations across Europe as a revenue-based financing marketplace. The business model emphasizes transparency in connecting entrepreneurs and investors and focuses on subscription businesses as its primary client base.

Team

  • Henri Moulard

    Co-Founder and President

  • Bernard-Louis Roques

    Co-Founder and General Partner

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  • Dimitri Popov

    Founder

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  • Philippe Pouletty

    Co-Founder and General Director

    LinkedIn