33 Californie, an investment fund specialized in the healthcare sector, has opened subscriptions for CaLySeed, its second investment fund, providing financial and strategic support to start-ups.
The aim of the new initiative is to finance innovations in human health, including therapeutics, medical devices, in vitro diagnostics, e-health, technology platforms and nutraceuticals. CaLySeed will invest in equity — following French public funding and business development initiatives — to help new companies find vital seed capital.
CaLySeed builds on the success of the 33 Californie fund launched by Stéphane Legastelois in 2019. In 2020, Legastelois joined forces with Elodie Panier, the founder and director of Bioneed, a consultancy company that has supported more than 35 entrepreneurs in developing their business designs and marketing their innovations. 33 Californie and Bioneed are the first investors to subscribe to CaLySeed.
33 Californie has helped create and/or directly finance 16 companies, with an average ticket of €100,000 ($999,000), amounting to a total investment of €1.6 million ($1.5 million). As a major shareholder in Simba Santé 3 (Angelor group, France), it has also helped fund eight other start-ups in the healthcare sector.
CaLySeed will act as a financial and strategic partner for entrepreneurs and innovative start-ups, supporting them in their early stages, from initial proof of concept through to finalizing the first fundraising. CaLySeed will also take on the role of advisory analyst for key players from the investment world (fundraisers, investment banks, public investors, etc.) to make sure these transactions run smoothly.
“I am really proud to introduce our new project, combining financial and strategic support for start-ups,” said Stéphane Legastelois, president of CaLySeed.
“Hot on the heels of our 33 Californie fund, we will offer the very best support to start-ups in the healthcare sector and ensure these companies hit the ground running. Our aim is to invest in a dozen new organizations over the next two years.”
“CaLySeed offers a unique and flexible model combining both an investment phase and an operational support phase where we work together with entrepreneurs to address their specific business needs,” said Elodie Panier, co-founder and managing director of CaLySeed.
“Depending on the start-up, CaLySeed might take on a lead or supporting role, providing short-term assistance to ensure the company has the key functions needed to get its business off the ground. This support is provided in partnership and in synergy with local players specializing in promoting deeptech innovations within the healthcare sector.”
In addition to providing financial backing, CaLySeed will call on the services of partners within its network and identify experts to help analyze each start‑ups’ positioning. Depending on how advanced a start-up is, CaLySeed will then — in particular during the operational support phase — assemble and mobilize a team of experts in a particular field, scientific discipline or professional skillset to help develop and implement relevant strategic roadmaps (e.g. around market access, regulatory approach, team structure and management ethos or industrial production).
The French Auvergne Rhône-Alpes (AuRA) region has many start-ups in the healthcare sector; CaLySeed is spoilt for choice when it comes to prospects and opportunities. Being based locally, it is also easier for the fund to become involved with start-ups at the seed stage, particularly when it comes to training management teams.