Fundraising FoxAster Capital
Venture capitalParis · Seed–Growth · 9 people tracked
Also known as Aster
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Investment thesis
Aster positions itself as more than a traditional VC, acting as an ecosystem builder that supports portfolio companies beyond funding. Through dedicated investment, corporate, and scale teams, it connects startups with corporates and industry experts to accelerate industrialization and market adoption. With over 25 years of experience, Aster backs European startups from seed to Series B, investing €500k to €5m in sectors such as energy, logistics, mobility, manufacturing, construction, chemicals, and agriculture. It emphasizes helping hard-to-abate industries turn challenges like decarbonization into innovation opportunities.
Source: firm website, verified Sep 27, 2026.
Team · 9 people
from the firm's website & public directories
Founder mafia
2 people who came through Aster Capital went on to found or lead other companies.
What they invest in
from 42 of 83 portfolio companiesCleantech ×19Energy ×14AI & Machine Learning ×12Enterprise Software ×12SaaS ×12Mobility & Transportation ×8Advanced Manufacturing ×7Climate Tech ×7
HQs:France×8United States×8United Kingdom×5Germany×4Kenya×3India×2
Who they back
founder profiles across 22 portfolio companiesFounding team size:solo founder×92 founders×103 founders×3
Where their founders studiedfrom 26 founders with education data
WHU – Otto Beisheim School of Management ×3EBS Universität für Wirtschaft und Recht ×2HEC Paris ×2UC San Diego ×2Union College ×2University of Cambridge ×2
What their founders studiedfrom 23 founders with field-of-study data
Business & Management ×10Engineering ×6Computer Science ×5Finance & Accounting ×2Law ×2Mathematics & Statistics ×2Politics & Policy ×2
Where their founders worked beforefrom 29 founders with career history
Google ×2
Accelerator rootsportfolio companies that came through a program
2 founders hold a PhD · 5 hold an MBA (of 26 with degree data)
Investments · 83 tracked
founders shown can be your intro pathBy year:2025 · 32024 · 12022 · 52021 · 12020 · 22018 · 52017 · 12016 · 12015 · 12014 · 22010 · 123 dated
2trde operates a full-service B2B platform for used-vehicle wholesale, connecting sellers such as OEMs, leasing companies and fleet operators with dealers across more than 16 European countries via over 12 B2B auction channels.
B2B MarketplacesLogistics & Supply ChainMobility & TransportationMunich, DE
Johannes Stoffel(Co-founder & CEO)inMarcus Lankenau(Co-founder & CTO)in
Co-investorsManiv Mobility
Advanced Ionics develops electrolyzer technology for producing green hydrogen, using its Symbiotic water vapor electrolysis that operates at intermediate temperatures and taps into existing industrial steam to lower electricity and capital costs.
CleantechClimate TechEnergyMilwaukee, US
Chad W. Mason(President and CEO)inWilliam Murray(Vice President)in
BoardJohn Bobrowich(Director)in
Co-investorsClean Energy VentureClean Energy VenturesGVP ClimateJERASWAN Impact Networkbp ventures
Agilence operates a partner ecosystem of technology and services providers serving retail, restaurant, and loss prevention sectors.
AI & Machine LearningData & InfrastructureEnterprise SoftwareRetail TechSaaSMount Laurel, US
Robert Klemme(Executive Officer, Director)inJ Russell Hawkins(Executive Officer, Director)Russ Hawkins(Chief Executive Officer)
BoardJohn C. Weber(Director)Sam Kingsland(Director)Robert S Adams(Director)
Co-investorsAccel-KKRArrowroot CapitalNumeta CapitalGranite Ventures
Avantium develops bio-based materials and polymer technologies, including PEF and other renewable alternatives to conventional plastics, serving the packaging and materials industry.
BiotechCircular EconomyCleantechNew MaterialsNetherlands, NL
Co-investorsNavitas CapitalCapricorn Venture PartnersNV NOMPMVSignet Healthcare PartnersSofinnova Partners+2 more
Circulor provides digital product passport infrastructure and supply chain traceability solutions designed for regulatory compliance with EU sustainability requirements.
Advanced ManufacturingCircular EconomyEnterprise SoftwareSaaS
Giles Palmer(CEO)
Co-investors24 HaymarketFuture Positive CapitalHG VenturesInMotion VenturesRegeneration.VCSystemiq Capital+2 more
Team82 is a cybersecurity vulnerability and threat research team that identifies software and firmware vulnerabilities in cyber-physical systems.
AI & Machine LearningCybersecurityIoT
Galina Antova(Founder)inYaniv Vardiin
BoardDavid Millstone(co-CEO of Standard Industries and co-CIO of Standard Investments)
Co-investorsArcher Capital GroupArcher Venture CapitalB CapitalBessemer Venture PartnersBMW i VenturesBosch Ventures+17 more
Concept Ventures is a dedicated pre-seed venture capital fund focused on early-stage startups, described as Europe's largest of its kind with over $200m in assets under management.
Sector Agnostic
Reece Chowdhry(Founding Partner)in
Co-investorsRLC VenturesAlvenForestay CapitalGoldman SachsHTGF
Cosmo Tech provides AI Simulation software to help organizations improve decision intelligence and manage complex problems, with a focus on supply chain and digital transformation.
Advanced ManufacturingAI & Machine LearningEnterprise SoftwareSaaS
Co-investorsCathay InnovationInsight PartnersInven Capital
White Plains, US
Guy Mounier(Executive Officer, Director)in
BoardFrancois Veron(Director)Philippe Chambadal(Director)
Co-investorsHSBCNewfund CapitalTrue Global Ventures
DCbrain provides AI-powered dynamic transport planning software for logistics and supply chain optimization.
AI & Machine LearningClimate TechLogistics & Supply ChainParis, FR
Arnaud de Moissac(Founder)in
Co-investorsKickstart InnovationEIT InnoEnergyStatkraft Ventures
Eatron develops AI-powered battery optimization software that improves efficiency, safety, and performance for industries using lithium-ion batteries across automotive, light mobility, commercial transport, and energy sectors.
AI & Machine LearningCleantechEnergyMobility & TransportationWarwick, GB
UmutCanAmedeoBrianUgurKrzysztof
Co-investorsACT Venture PartnersLG Technology VenturesMMC VenturesTechFoundersTIBAS Ventures
Elroy Air develops autonomous hybrid-electric aircraft for heavy-payload cargo delivery, serving commercial logistics, defense, and humanitarian customers.
Deep TechHardwareLogistics & Supply ChainRoboticsCalifornia, US
Dave Merrill(Founder & Executive Chairman)inClint Cope(Co-Founder, Strategy / Product / Engineering)inAndrew Clare(Chief Executive Officer)in
BoardDarren Liccardo(Director)in
Co-investorsShield CapitalSnowpointCatapult VenturesCity LightCubit CapitalDiamondStream Partners+12 more
ENTOUCH provides energy management systems for multisite facility operators to monitor and control HVAC systems, lighting, refrigeration, and energy usage across locations via a unified cloud platform.
CleantechEnergyEnterprise SoftwareIoTRichardson, US
Frank Menocal(Chief Technology Officer)inJon Bolen(Chief Executive Officer)inEric Denton(Chief Financial Officer)inJAMES WALTON(SECRETARY AND DIRECTOR)inGREG FASULLO(CHIEF EXECUTIVE OFFICER AND DIRECTOR)in
BoardDavid Matthews(Director)
Co-investorsEgis Capital PartnersSJF Ventures
Eye Lights makes augmented reality head-up display (HUD) products for motorcycle riders and general aviation pilots, including a HUD visor integrated into SHOEI helmets, a universal add-on HUD accessory with GPS, intercom and radar, and HUD glasses for aviation.
HardwareIoTMobility & TransportationLabège, FR
Romain DUFLOT(Founder)in
Co-investorsTechstarsBreegaShift4Good
Finalcad offers a mobile and web application for construction site monitoring, quality control, safety tracking, and team coordination across multiple work packages.
Construction TechPropTechSaaS
Co-investorsCathay InnovationMolten VenturesSerenaCAP HORN VCDraper EspritSalesforce Ventures+1 more
Getaround is a car-sharing marketplace that allows users to book and rent vehicles from private and professional owners through a mobile app, with keyless vehicle access and included trip liability insurance.
MarketplacesMobility & TransportationSan Francisco, US
Jessica Scorpio(Founder and Vice President of Marketing)inSam Zaid(Founder & CEO)inElliot Kroo(Founder)inJeffrey Russakow(Director)Spencer Jackson(Executive Officer)inTom Alderman(Executive Officer)in
Co-investorsAlumni VenturesBraemar Energy VenturesCathay InnovationCollaborative FundEvolution VC PartnersFJ Labs+18 more
GridBeyond develops a technology platform that manages distributed and flexible energy resources for industrial, commercial, utility, and institutional organizations worldwide.
AI & Machine LearningCleantechEnergyEnterprise SoftwareIoTSaaSCork, IE
Michael Phelan(CEO)inPadraig Curran(CTO & Co-Founder)Richard O'Loughlin(Deputy CEO)in
Co-investorsEnergy Impact PartnersConstellationMirovaSamsung VenturesAct Venture CapitalACT Venture Capital+4 more
Habiteo builds web-based 3D solutions — 3D floor plans, virtual tours, and a configurator — combined with a dedicated CRM platform (myHabiteo) to manage sales and marketing activity for real estate developers.
Marketing TechPropTechSaaS
Co-investorsSE VenturesSerenaSerena Capital
Hadean is a deep-tech company that builds distributed computing technology.
AI & Machine LearningCloud ComputingData & InfrastructureDeep TechDefense TechEnterprise SoftwareGamingSaaSLondon, GB
Rashid Mansoor(Founding CEO)inAlec Mocatta(Founding CTO)inCraig Beddis(CEO)inMimi Keshani(Current COO)in
Co-investors2050 CapitalAurum Venture PartnersBooz Allen VenturesEntrepreneur FirstIn-Q-TelMolten Ventures+5 more
Heetch operates a ride-hailing app connecting passengers with drivers, positioning itself on low commission rates for drivers.
ConsumerMarketplacesMobility & Transportation
Co-investorsAfricInvestCathay InnovationKima VenturesVia IDAlvenFELIX CAPITAL+1 more
Iceotope develops precision liquid cooling technology for data centers, AI infrastructure, and edge computing systems.
AI & Machine LearningCleantechDeep TechHardwareSheffield, GB
Co-investorsNorthern GritstoneOmbu GroupSalica Investments
InspiraFarms Cooling provides cold chain infrastructure and cooling technology solutions to African agribusinesses, farmers, and exporters to reduce food losses and improve access to higher-value markets.
Advanced ManufacturingAgTechCleantechClimate TechFoodTechLogistics & Supply Chain
Co-investorsShell FoundationKawiSafi VenturesPymwymicE3 Capital
Karos operates a short-distance carpooling app that matches drivers and passengers on their daily commutes, offering flexible role-switching, verified identity profiles, a women-only ("Ladies only") ride option, and a guaranteed-ride-home service via taxi or VTC.
Climate TechMarketplacesMobility & TransportationParis, FR
Tristan Croiset(Founder)inOlivier Binet(Founder)in
Co-investorsKima Ventures
LevelTen Energy operates a platform that connects renewable energy developers with customers and market participants, facilitating project visibility and deal-making in the renewable energy sector.
B2B MarketplacesCleantechClimate TechEnergySaaSSeattle, US
Bryce Smith(Executive Officer, Director)inSmith Bryce(Executive Officer, Director)inWilliam Thomas(Executive Officer)
BoardDavid Cohen(Director)inKarly Wentz(Director)inGreg Lyons(Director)
Co-investorsB Capital GroupB4 CapitalConstellation Technology VenturesE8 AngelsPrelude VenturesTechstars+7 more
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ManoCap Energy designs, finances, builds, and operates clean energy infrastructure for businesses in Africa, including hybrid solar-plus-battery power systems and electric fleet solutions funded through power purchase agreements with no upfront cost to the customer.
CleantechEnergyMobility & Transportation
Tom Cairnes(Co-Founder and Chief Executive Officer (CEO))inDaniel Osei-Antwi(Co-Founder and Chief Operating Officer (COO))in
Co-investorsE3 CapitalEiffel Investment GroupMirova
Mawingu is an internet service provider offering unlimited fixed-site WiFi, bespoke connectivity, and value-added services such as public IP and managed firewalls to homes and businesses.
Enterprise SoftwareImpact & Social Good
Co-investorsE3 Capital
Neural Concept provides AI-powered engineering software that accelerates product design and R&D cycles for manufacturers across industries like electric vehicles, aerospace, and energy.
Advanced ManufacturingAI & Machine LearningDeep TechEnterprise SoftwareSaaSSwitzerland, CH
Co-investorsAnais VenturesForestay CapitalAlvenHTGF
Nuru builds and operates solar-based mini-grids to provide electricity in the Democratic Republic of Congo, including a 1.3MW solar hybrid site in Goma described as the largest off-grid mini-grid in sub-Saharan Africa.
CleantechEnergyImpact & Social GoodGoma, CD
Archip Lobo(Founder)in
Co-investorsE3 CapitalInternational Finance CorporationProparco
Ontruck offers an AI technology layer that connects to transport management systems to optimize road freight operations, including smart pricing, route planning, and shipment forecasting.
AI & Machine LearningB2B MarketplacesLogistics & Supply Chain
iñigo juantegui(Founder)in
Co-investors42CAPAcurio VenturesAtomicoClimate InvestmentEmblemLa Famiglia+4 more
Otoqi operates a platform for vehicle logistics and fleet management, offering car transport (convoyage), repositioning, refueling, maintenance, and real-time tracking through a network of over 2,000 independent drivers.
Logistics & Supply ChainMobility & TransportationSaaS
Sebastien de Limon(Founder)in
Co-investorsCDP Venture CapitalSeventure PartnersVerve Ventures
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Promethean Power develops patented energy storage technology for agricultural and off-grid applications in emerging markets.
AgTechCleantechEnergyFoodTechHardwareOsmanabad, IN
Sorin Grama(Co-founder & Director)inSam White(Co-founder & Director)in
Co-investorsAcumen
Dubai-based clean beauty e-commerce platform connecting global sustainable beauty and wellness brands to GCC consumers.
Wellness & FitnessDubai, AE
Co-investorsTechstars
Solarise Africa provides integrated renewable energy solutions and financing for commercial and industrial businesses in Africa, combining solar installation, energy optimization, and Energy-as-a-Service offerings.
CleantechClimate TechEnergyFintechImpact & Social Good
Jan Albert Valk(Co-Founder & CEO)inSakkie van Wijk(Co-Founder & COO)in
Co-investorsE3 CapitalOikocreditProparco
SunCulture provides off-grid solar-powered irrigation pump systems that give smallholder farmers access to water, irrigation, lighting, and mobile charging, sold with a pay-as-you-grow installment option.
AgTechCleantechEnergyNairobi, KE
Co-investorsE3 CapitalEquatorPrivate Infrastructure Development GroupShell Foundation
Sunfire develops solid oxide electrolysis cell (SOEC) and alkaline electrolysis (AEL) technologies for producing green hydrogen and synthetic fuels, serving the industrial decarbonization market globally.
Advanced ManufacturingCleantechEnergyHardwareDresden, DE
Carl Berninghausen(Founder, former CEO, Supervisory Board member)inChristian von Olshausen(Founder)Nils Aldag(Founder, CEO)in
Co-investorsEuropean Investment BankAhren Innovation CapitalBlue Earth Capital AGInven Capital
tado° makes smart thermostats and AI-powered energy management products for home heating systems including radiators, underfloor heating, boilers, and heat pumps, plus dynamic electricity supply based on real-time prices.
CleantechEnergyIoT
Co-investorsBayBG Venture CapitalBayern KapitalFuture Energy VenturesInven CapitalLBBW Venture Capital GmbHS2G Investments
Teem Photonics develops photonic components and laser systems, including erbium-doped waveguide amplifiers, microchip lasers, and waveguide interface products for telecommunications, industrial marking, and silicon photonics applications.
Advanced ManufacturingDeep TechHardwareSemiconductorsGrenoble, FR
Antoine Kevorkian(Founder)in
Warehousing1 is a logistics software startup that digitizes fulfillment operations for e-commerce brands through a network of warehouses.
B2B MarketplacesE-commerceEnterprise SoftwareLogistics & Supply ChainSaaSBerlin, DE
Nico SzeliinNils AschmanninFabian Sedlmayrin
Co-investorsBOOOM
Wluper builds voice-based conversational AI that adds natural language understanding to existing applications, helping field and frontline workers complete manual tasks faster.
AI & Machine LearningDeep TechEnterprise Software
Co-investorsInMotion Ventures
ZIZ is a diversified electricity company based in Chad that develops, finances, builds, and operates hybrid power plants and urban metro-grids serving secondary cities of over 25,000 inhabitants.
CleantechClimate TechEnergy
Co-investorsFMOProparcoE3 Capital
Solar and battery energy company selling PAYGo home and business power systems across Africa and other emerging markets.
Co-investorsHelios Digital VenturesUnreasonableZouk CapitalDBL PartnersFMOHelios Investment Partners+1 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AdvaeAdvae (ex Finalcad)BetterwayBoosterBuildingIQCandi SolarCasanovaconnectBlueCPowerDigital LumensEasybike GroupekWateurElement AnalyticsENTOUCHGreenlight Planet (ex PayGo Energy, now Sun King)HuwiseIonic MaterialsKGS BuildingsLucibelLula LoopNetasqNotchupOntoOpen WideOptirenoOrdinal SoftwarePacketAIPalgoPEG AfricaSolairedirectSolarXSolidia TechnologiesSwiftlyTerakalisTronicsZonful Energy
Exits · 1
1 acquisitionsNetasqacq. by EADS (Cassidian CyberSecurity)
Portfolio news
latest coverage across their companiesKaros · trysignalbase.com · Mar 25, 2026
Claroty · prnewswire.com · Jan 22, 2026
Neural Concept · finsmes.com · Dec 18, 2025
Avantium · newsroom.avantium.com · Sep 18, 2025
Frequently asked questions
- How many investments has Aster Capital made?
- Aster Capital has 83 tracked investments, 1 of which have exited, including 3 dated in the last 24 months.
- What stage does Aster Capital invest at?
- Aster Capital invests at the Seed, Series A, Series B, Series C, Growth stages.
- What is Aster Capital's typical check size?
- Aster Capital typically writes checks of $550K – $5.5M.
- What sectors does Aster Capital focus on?
- Aster Capital focuses on Advanced Manufacturing, AgTech, Cleantech, Climate Tech, Crypto & Web3, Deep Tech, Energy, Mobility & Transportation, New Materials, SaaS.
- Where is Aster Capital located?
- Aster Capital is headquartered in Paris, FR.
- Does Aster Capital lead rounds?
- Aster Capital typically participates in rounds rather than leading them.
- Who does Aster Capital co-invest with?
- Aster Capital most often shares deals with E3 Capital, Cathay Innovation, Inven Capital, among 134 tracked co-investors.
Media · Podcasts & interviews
featuring the teamJean-Marc Bally - Managing Partner d’Aster Capital
I&S Adviser Operating Partners · Jean-Marc Bally
Jean-Marc BALLY, Managing Partner (Aster Capital) et l'innovation ouverte
Direction générale des Entreprises · Jean-Marc Bally
ECO16 Berlin: Fabio Lancellotti Aster Capital
ecosummitTV · Fabio Lancellotti
Images
Co-investors · 24
Alven is an independent early-stage venture capital firm that has been investing for 25 years, positioning itself as a straightforward, hands-on partner to entrepreneurs.
NGP Capital is a venture capital firm with two decades of experience backing founders building transformative technologies across global markets.
Molten Ventures invests in European technology companies across sectors including fintech, AI, climate and quantum, with a portfolio spanning over 100 companies.
Serena is a French venture capital firm founded in 2008 that backs innovative, ambitious entrepreneurs building global category leaders, pairing capital with a large operating team through its PALM platform.
Bessemer Venture Partners is a global venture capital firm that partners with entrepreneurs across enterprise, consumer, and healthcare sectors from early stages through growth.
Team8 is a venture creation and venture capital firm that partners closely with founders and industry experts to identify core problems and build long-lasting companies.
MMC is a European venture capital firm that has partnered with over 100 early-stage founders over more than two decades to help grow their startups.
Clearvision Ventures is a venture firm founded by entrepreneurs, investing across stages from early to growth in companies driving sustainability disruptions in energy and infrastructure.
Newfund Capital is an early-stage venture capital firm operating out of Silicon Valley and Paris, backing entrepreneurs across technology sectors.
Seventure Partners is a European venture capital firm backing innovative companies across life sciences and digital technologies, with additional focus areas in sport & performance and the blue economy.
▶12 more co-investors
Maniv MobilityKaristaTekfen VenturesPrinceville Capital2050 CapitalMayfield FundFlybridge Capital PartnersBoost VCSamsung NextPaladin Capital GroupHitachi, Ltd.Novastar Ventures
Firms observed investing alongside Aster Capital, from public investor directories. Shared companies are the overlap with Aster Capital's recorded portfolio.
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