SFINE - Société de Financement de l Innovation Numérique en Essonne

www.sfine.website

SFINE intervenes in incubation (€0-300K) and seed stages (€50-500K) of startup development, backing innovative companies across multiple sectors including eCommerce, HR technology, healthcare, general technology, and sustainable technology.

Check Size

$50K - $2M

Stages

Pre Seed, Seed, Series A

Focus Areas

E Commerce, Hrtech, Healthtech

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Investment Thesis

SFINE operates on a business angel model rather than traditional VC fund structure, believing that superior returns come from selective, long-term engagement with startups rather than pursuing rapid growth and exits. The firm explicitly critiques traditional VCs for their time-bound exit horizons and portfolio-dependent performance, instead advocating for a more selective, hands-on approach that mirrors successful individual business angels who achieve returns of x25-x30.

What Sets Them Apart

Explicit critique of traditional VC model inefficiency—only 5% of VCs achieve expected 12%/year returns
Adoption of 'good business angel' approach emphasizing long-term board participation and strategic influence rather than passive investment
Focus on selective, high-conviction investments rather than capital deployment quotas
Early-stage specialization (incubation and seed) avoiding later-stage venture capital competition
Emphasis on avoiding losses and selective deal-making: 'n'investir que quand ils le sentent vraiment' (only invest when they truly feel it, when all ingredients align)