On Tuesday night local time, Paris-based early-stage technology investment firm Motier Ventures announced a startup hub called La Maison. This relatively new investor in the French tech ecosystem is the family office of the Houze family, owners of luxury fashion retailer Galeries Lafayette Group.
Since Galeries Lafayette's main assets are brick-and-mortar stores, they believe having physical space will give startups an advantage over other technology investment firms.
Founders of early-stage startups based in Paris have more options than ever when it comes to raising a seed round. Many unicorn founders become angel investors on the side. Family offices are diversifying their investment strategies with renewed interest in technology startups. And early-stage VC firms are still fighting for the best deals.
The most promising startups can choose for themselves who they want on their capital sheet. Some investors like to promise introductions with potential customers and business partners. Some are promising quick, extra financial deals to help entrepreneurs get back to work on their startups.
Motier Ventures is betting on an ecosystem-first approach. Over the past three years, the fund has deployed capital at a rapid pace and now has investments in 85 companies, including many promising AI companies such as Dust, H, and Mistral.
They also organized several events that brought together many founders and investors of the French tech ecosystem in the same room. The next step in that strategy is a physical space called La Maison (a word meaning house or home).
Image credit: Motier Ventures
Spread across the top three floors of the Lafayette Gourmet Building adjacent to the Opéra Garnier, La Maison will house 12 early-stage startups in the Haussmann-style building. It is scheduled to open in early 2025.
The fourth floor is a little different and serves as a reception space for events/demo days/hackathons/cocktails. “This is a big project, and I think what drives us is not just Motier Ventures, but the entire ecosystem of entrepreneurship and family that we have represented for five generations,” said Motier Ventures. said Guillaume Houzé, partner at an AI-focused event in Paris. Written by Motier.
“Together with Galeries Lafayette, we are ultimately trying to support the people who create the finest brands,” he added, noting that the foundation's goal for La Maison is to make it more than just a place to work and meet. Rather than supporting “high-performing teams” by providing inspiration to others, he said. Creativity, he says, is “a space for us to collectively think about the vision of the society we want to build.”
In many ways, La Maison's pitch is reminiscent of the early days of local tech hub The Family. Almost 10 years ago, The Family opened as a startup accelerator with a beautiful event space and quickly became the town square of the French tech ecosystem.
The COVID-19 pandemic forced The Family to close its space to cut costs. Recently, this has been in the news again for all the wrong reasons, as one of The Family's co-founders, Osama Ammar, has been accused of misappropriating millions of euros.
For those who have worked in the French tech ecosystem for more than a few years, The Family meet-ups and dinners are now just a distant memory. And there was nothing to replace it. Station F is a grand megacampus for startups, but it's too big for casual, informal events. Perhaps La Maison will become the new default space for hosting small meetups.
“Our goal is to foster an environment where the next generation of technology entrepreneurs in areas such as AI feel supported, inspired and connected,” Nicolas Esayan, partner at Motier Ventures, said in a statement. ” he said.
Image credit: Motier Ventures
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