Alven settles succession, plans new fund after €350M vehicle

What's the deal? Alven, the Paris-based venture capital firm, has agreed to transfer full ownership from its founders to a new generation of investors and plans to launch a new fund. Guillaume Aubin and Charles Letourneur, who founded Alven more than 25 years ago, will gradually sell their entire stake. Rodolphe Menegaux, François Meteyer, and Maria Tahri will succeed them as owners.

Why now? The founders turn 60 this year, and questions about how they would organise a transition had lingered for months. Menegaux, previously a partner, becomes general manager and will steer future funds with Meteyer and Tahri. Financial terms have been set and accepted; the founders will continue managing Alven's historical portfolio.

What's the endgame? Alven plans to launch a new fund before the end of the year, with a closing expected in 2027. The firm has not disclosed the target size or strategy. Its most recent fund closed in 2022 with €350 million in commitments.

What could go wrong? The succession has been bumpy. Partners Bartosz Jakubowski and Thomas Cuvelier left at the end of last year, alongside principal Margaux Grégoir and Pauline Ancona.

The firm has stumbled here before. In 2019, partners Raffi Kamber and Jérémy Uzan — once seen as potential successors — left to launch Singular, now a notable French VC player.

The market had also speculated that Menegaux and Meteyer might leave to start their own firm focused on AI and health startups. Aubin said the summer agreement removes "any possibility" of a spin-off or further departures.

The signal: Alven backed early winners including Qonto, Dataiku, Algolia, and Stripe, making its handover a test case for generational transition in French venture capital. By transferring capital gradually, naming a general manager, and preparing a fundraise, the firm is closing months of uncertainty. The new generation now has a defined path to carry it forward.

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