What stage does Truffle Capital invest at?

Truffle Capital invests at the Seed, Series A, Series B, Series C, Growth stages.

What is Truffle Capital's typical check size?

Truffle Capital typically writes checks of $5M – $15M.

Where is Truffle Capital located?

Truffle Capital is headquartered in Paris, FR.

Does Truffle Capital lead rounds?

Yes, Truffle Capital leads investment rounds.

Who does Truffle Capital co-invest with?

Truffle Capital most often shares deals with Andera Partners, Claret Capital Partners, Medicxi, among 5 tracked co-investors.

Truffle Capital

Venture capital

Paris · Seed–Growth · 7 people tracked

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Investment thesis

Truffle Capital positions itself as a European 'Business Builder' focused on two areas of expertise: Life Sciences (MedTech and Biotech) and Deeptech applied to finance (Fintech and Insurtech). It aims to create and grow companies into future leaders in BioMedTech and Finance/Insurance. Consistent with its model, the firm systematically acts as a founder in BioMedTech, serves as lead investor in financing rounds, and takes a proactive role in company governance.

Invests inAI & Machine Learning Biotech Crypto & Web3 Cybersecurity Deep Tech Fintech Healthtech InsurTech Medical Devices Europe Paris

Source: firm website, verified Aug 3, 2026.

Stage

Seed–Growth

Check

$5M – $15M

Paris, FR

Leads rounds

Leads

Instruments

Equity

Founded

2001

AUM

$540M

Tracked investments

Team · 7 people

from the firm's website & curated & public directories

Henri Moulard· Chairman & Co-Founder

Chairman & Co-Founder of Truffle Capital, formerly Chairman & CEO of Generali and Chairman of Banque Neuflize, ABN Amro France, and an Officer of the Legion d'Honneur.

Philippe Pouletty· CEO and Co-Founder

Medical doctor and serial entrepreneur, founder of Abivax and Carvolix, inventor of 39 patents, and a member of the Stanford Inventor Hall of Fame with a background in immunology at the Pasteur Institute.

p•••@truffle.comreveal

Bernard-Louis Roques· Co-Founder and CEO· Greater Paris Metropolitan Regionin

Co-founder and co-CEO of Truffle Capital, leading the firm alongside Philippe Pouletty.

b•••@truffle.comreveal

Mukul Mohanty· Senior Partner· Londonin

Mukul Mohanty is a Senior Partner at Truffle Capital with 28 years of investment experience across private equity and venture capital in Europe, Asia, and the US. He has led fundraising campaigns for closed-end funds and growth-stage companies, and built relationships with institutional investors including pension funds, family offices, and placement agents. Mohanty also provides pro bono mentoring to early-stage founders.

Julienne Nko'o· Senior Financial Controller

Julienne Nko'o joined Truffle Capital in January 2025 as Senior Financial Controller. She previously worked in audit at Mazars Luxembourg, auditing private equity funds, and at KPMG France as a senior auditor covering private equity funds, management companies, and real-estate companies. She holds a Master in Corporate Finance from INSEEC Business School (2021).

Nobel Negou· Senior Financial Controller· London, England, United Kingdomin

Nobel Negou joined Truffle Capital as Senior Financial Controller in January 2025. He previously worked for seven years as a Financial Controller at AXA Investment Managers, focusing on real estate funds. He is a graduate of the Grande École Program at Skema Business School.

Abhishek Malani· Head of Middle Office - Private Equity / Venture Capital· New York, New York, United Statesin

Contributor to Sequoia's market analysis content alongside Alfred Lin.

What they invest in

from 4 of 4 portfolio companies

Biotech ×2Medical Devices ×2AI & Machine Learning ×1Construction Tech ×1Fintech ×1Healthtech ×1Robotics ×1SaaS ×1

HQs:European Union×1France×1United States×1

Investments · 4 tracked

founders shown can be your intro path

By year:2023 · 1 2015 · 12 dated

VaxinMar 2015SEC filingmedium confidence

BiotechGaithersburg, US

Scot Roberts(Executive Officer)William Enright(Executive Officer, Director)

BoardFlorent Gros(Director)Philip Hodges(Director)Marten Steen(Director)

Board seatPhilippe Pouletty· per SEC Form D · $16M raise · filed Mar 2015

Abivaxabivax.com in 𝕏

Abivax develops obefazimod, an orally administered small molecule drug candidate with a novel mechanism of action targeting microRNA biology to treat chronic inflammatory diseases including ulcerative colitis and Crohn's disease.

BiotechHealthtechMedical Devices

Co-investorsAndera Partners Claret Capital Partners Medicxi Samsara BioCapital Sofinnova Partners

Carvolixcarvolix.eu in

Carvolix develops AI- and imaging-driven mini-robotic technologies that assist interventional cardiologists during cardiac valve replacement and ischemic stroke (thrombectomy) procedures.

AI & Machine LearningMedical DevicesRobotics

Obatobat.fr in 𝕏Nov 2023

OBAT is a French SaaS for construction and building trades (BTP) professionals and artisans, offering tools for quotes, invoicing, electronic invoicing compliance, accounting export, and project/site management.

Construction TechFintechSaaS

Co-investorsIsai ISAI Gestion Kima Ventures Evolem Holnest

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Frequently asked questions

What stage does Truffle Capital invest at?: Truffle Capital invests at the Seed, Series A, Series B, Series C, Growth stages.
What is Truffle Capital's typical check size?: Truffle Capital typically writes checks of $5M – $15M.
What sectors does Truffle Capital focus on?: Truffle Capital focuses on AI & Machine Learning, Biotech, Crypto & Web3, Cybersecurity, Deep Tech, Fintech, Healthtech, InsurTech, Medical Devices.
Where is Truffle Capital located?: Truffle Capital is headquartered in Paris, FR.
Does Truffle Capital lead rounds?: Yes, Truffle Capital leads investment rounds.
Who does Truffle Capital co-invest with?: Truffle Capital most often shares deals with Andera Partners, Claret Capital Partners, Medicxi, among 5 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Asian Financial Forum 2025 – “One minute with” Bernard-Louis Roques of Truffle Capital

HKTDC · Bernard-Louis Roques

Bernard-Louis Roques Directeur Général Truffle Capital : "C'est une année charnière pour les édit...

LABOURSEETLAVIE · Bernard-Louis Roques

Philippe Pouletty (Truffle Capital&Abivax) : Abivax annonce son introduction au Nasdaq

BFM Business · Philippe Pouletty

Philippe Pouletty (Truffle Capital) : Affluent Medical développe des valves cardiaques artificielles

BFM Business · Philippe Pouletty

Bernard-Louis Roques (Truffle Capital) : Les éditeurs de logiciel préoccupés par leur rentabilité

BFM Business · Bernard-Louis Roques

Palmarès Fintech 100 | Bernard-Louis Roques, Directeur Général, Truffle Capital

Finance Innovation · Bernard-Louis Roques

Images

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