- Parabolic Arc
- October 2, 2023
Karista’s NewSpace Fund, CosmiCapital, Closes with 38 Million Euros with CNES and Bpifrance Via FNA 2
PARIS (CNES PR) — Karista announces the first closing of CosmiCapital, its venture capital fund initiated by CNES and entirely dedicated to NewSpace. Subscribed in particular by CNES, initiator of the fund, and the National Seed Fund 2 (FNA 2), managed on behalf of the State by Bpifrance, within the framework of the Future Investments Program (PIA), the fund will have an investment capacity of 38 million euros [US $43.9 million] to fulfill its main objective: take advantage of the unprecedented acceleration of the space economy and invest in French and European technology start-ups in the sector. With this closing, Karista completes its range of funds to become a European multi-fund venture management platform.
CosmiCapital, Karista’s Newspace fund initiated by CNES, announces its first closing. Supported by CNES and FNA 2, managed on behalf of the State by Bpifrance within the PIA framework, in partnership with ESA (European Space Agency), the fund will invest in young French and European companies that develop solutions linked to the NewSpace revolution. Aiming at a target of 70 million euros [US $80.8 million] in 2022, Karista’s new vehicle is an innovation capital fund intended to finance start-ups via investments ranging from 1 to 5 million euros [US $1.2 to $5.8 million] in seed/series A positioning has made it possible to bring together leading institutional underwriters as well as manufacturers in the field.
A European openness, a multi-sector ambition
With the proliferation of satellite constellations and as a corollary the production of data from space, this new sector induces an economic revolution equivalent to that of the Internet in the 1990s. Now, Newspace sees the emergence of young people. agile players and carriers of disruptive technologies. CosmiCapital, Karista’s Newspace fund, wishes to take advantage of this new economy in very strong growth by positioning itself mainly in the Downstream, which brings together all the technologies making it possible to exploit the data coming from the many satellites in orbit but also in the Upstream which brings together all the industrial technologies to design, manufacture and launch satellites.
CosmiCapital will invest in particular in start-ups that rely on the explosion of available data to build innovative solutions for the world of tomorrow, having an impact in many sectors of the economy (insurance, finance, agriculture, energy, transport, environment, telecommunications, security, etc.). Present in France, the fund’ management team is made up of 8 investors and is supported by experienced Venture Partners in the digital and space sector based in Germany and Great Britain.
CNES supports the development of the NewSpace ecosystem
In recent years, space has no longer been reduced to state space agencies and historical industrialists. Through a service offering for start-ups that is unique in Europe and with little equivalent at the global level, CNES and its partners now support the creation of one start-up per week in France in the space sector.
On the occasion of this closing, Philippe Baptiste, CEO of CNES, declared: “We are proud to participate in the creation of the first French NewSpace fund with a European vocation. With CosmiCapital, its team of experienced investors and its extensive ecosystem of partners, NewSpace will have at its disposal a unique tool to support future European space unicorns in their growth and generate value.”
Karista deploys its European multi-fund venture management platform
Founded in 2001, Karista is an independent Venture Capital company specializing in early stage, in the areas of Digital, DeepTech, Health and Newspace. For two years, it has been showing its ambition to always go further in supporting seed and series A for innovative companies and is projecting itself internationally.
“We are pleased to announce this first closing which proves both the growing interest of subscribers in this rapidly expanding market and also the confidence they place in our investment team. By joining us in this adventure, they participate in the dynamism of the European economy driven by young innovative companies. Finally, with this closing, Karista becomes a true European multi-fund venture platform supplementing its range of specialized funds,” adds Olivier Dubuisson, President of Karista.
“CosmiCapital’s strategy of bringing out French and European Newspace champions with a dedicated innovation capital fund is fully in line with the ambitions of FNA and Bpifrance: supporting the growth of start-ups with high potential, carriers of innovation of rupture. The space industry, in the process of changing towards a ‘Space as a Service’ model, offers our start-ups real opportunities to seize today. We are pleased to partner with Karista, which is deploying a new investment solution capable of specifically addressing digital and space issues in the early-stage segment and thus enabling our young shoots to position themselves in the booming NewSpace market,” said Nicolas Dufourcq, CEO of Bpifrance.
Karista, is an independent Venture Capital company specializing in early-stage, particularly in the fields of digital, deep tech and health. Since its creation in 2001, the company has supported more than 90 companies in Europe and generates sustainable performance for its investors. Karista notably financed the companies Sequans Communication (NYSE Listed SQNS) Nanobiotix (Nasdaq Listed NBTX), Comitéo (sold to Natixis). A strategic partner of entrepreneurs, the Karista team is recognized for its complementarity and its network. www.karista.vc
CNES (Center National d’Études Spatiales) is the public establishment responsible for proposing French space policy to the Government and implementing it within Europe. It designs and places satellites in orbit and invents the space systems of tomorrow; it promotes the emergence of new services that are useful on a daily basis. CNES, created in 1961, is at the origin of major space projects, launchers and satellites and is the industry’s natural interlocutor to push innovation. CNES has nearly 2,500 employees, women and men passionate about this space which opens up infinite, innovative fields of application and intervenes in five areas of intervention: Ariane, sciences, observation, telecommunications, defense. CNES is a major player in technological innovation, economic development and industrial policy in France. It also forges scientific partnerships and is involved in numerous international cooperation. France, represented by CNES, is one of the main contributors to the European Space Agency (ESA). www.cnes.fr
About the Investments for the Future Program (PIA)
Committed for 10 years and managed by the General Secretariat for Investment with the Prime Minister, the PIA finances innovative projects, contributing to the transformation of the country, sustainable growth and creating the jobs of tomorrow. From the emergence of an idea to the dissemination of a new product or service, the PIA supports the entire innovation life cycle, between public and private sectors, alongside economic, academic, regional and other partners. Europeans. These investments are based on a demanding doctrine, open selective procedures, and principles of co-financing or returns on investment for the State. The fourth PIA (PIA4) has €20 billion [US $23.1 billion] in commitments over the period 2021-2025, of which €11 billion [US $12.7 billion] will help support innovative projects under the France Relance plan. The PIA will continue to support innovation, in all its forms, over the long term, so that our country strengthens its positions in sectors of the future, serving competitiveness, ecological transition, and the independence of our economy and our organizations. More information on: www.gouvernement.fr/secretariat-general-pour-l-investment-sgpi @SGPI_avenir
Bpifrance equity investments are made by Bpifrance Investissement. Bpifrance finances companies – at each stage of their development – with credit, guarantees and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also now ensures their export activity through a wide range of products. Consulting, university, networking and acceleration program for startups, SMEs and mid-cap companies are also part of the offer provided to entrepreneurs. Thanks to Bpifrance and its 48 regional offices, entrepreneurs benefit from a close, unique and efficient interlocutor to support them in facing their challenges.