France-based Axeleo Capital, a venture arm of enterprise-focused startup accelerator Axeleo SAS, has closed on its 45 million euros ($51 million) fund.
The fund, Axeleo Capital I acceleration fund, is an innovative program that combines venture capital and startup acceleration to provide business-to-business startups with entrepreneurial, operational, and financial support.
Axeleo Capital I acceleration fund will be used to finance seed and Series A rounds, with commitments ranging from $5.6 million to $4.5 million.
Over the past 20 months, Axeleo Capital has already made 20 investments in seed and Series A rounds.