<aside> 💡 Bleu Capital is an evergreen venture fund, which gives us a permanent capital base and a longer investment horizon than traditional VC funds.

Sniper strategy: We keep our portfolio concentrated to maximize our support capacity.

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Overview:

We invest in 2-4 companies per year, focusing on the our economies’s systems of production. We run a concentrated and high-conviction portfolio to maximize our support capacity to founders and achieve diversification through fund-of-fund investments. Our ideal direct investment is at the Pre-seed to Series A level, with 1 happy paying customer. Our investment tickets range from 150K to 500K. We invest both in the US and Europe.

Introducing thesis 3.0

Our thesis: At Bleu Capital, we seek to fund the companies unlocking sustainable progress at scale.

We focus on the systems of production and distribution behind our economy to achieve that goal.

Quick litmus test: If this company is successful, will humankind experience sustainable progress at scale? Will the company scale thanks to improved unit economics relative to the pre-existing status-quo?

Examples in portfolio: La Vie (consumer) Tekyn (network effects), Hubcycle (software layer), For Days (user experience), Nova Carbon (value chain improvements)

Climate urgency is the greatest opportunity of our time

Key drivers of our thesis include:

• The imperative of net-zero laws and the incentives created by government tax credits and carbon accounting, including the Inflation Reduction Act’s $1.7 trillion for climate initiatives in the US. These are more efficiently connecting companies to their climate related externalities through a mix of incentives and penalties.
• The evolving preferences of consumers towards more sustainable choices, a true North for the broader economy, driving corporate commitments, especially in the consumer sector. As of 2023, 60% of the global assets have net zero targets, 40% of the materials sector, and 50% of the utilities sector.
• The rise of climate unicorns, attracting talents and creating blueprints for large wealth creation.
• In parallel, the emergence of a new generation of engineers, trained at the likes of SpaceX, Tesla, and Apple, who understand how to develop hardware cost efficiently and rapidly. Hardware startups are becoming “sexy” again in the silicon valley.
• A US infrastructure system living on borrowed time: In private water utilities alone, the EPA says that the US will face $470Bn in costs over the next 20 years to upgrade its water infrastructure alone.