Romain Mombert, Eurazeo: “Tomorrow, retailers and brands will no longer acquire customers, but AI agents”

Featured image of the article Romain Mombert, Eurazeo: “Tomorrow, retailers and brands will no longer acquire customers, but AI agents”
In a proliferation of AI start-ups, how can investors distinguish those that bring true innovation and in which they should invest? For what valuation metrics? In retail and payment, what types of solutions are able to create an "AI-native" customer experience? As Eurazeo has launched a fund with a target size of €1 billion, dedicated notably to AI, Romain Mombert, Growth Investor, presents his key investment criteria, current valuation levels and a vision for 2026.
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What is the cumulative amount of assets managed by Eurazeo?

At the end of 2025, Eurazeo had €39 billion in assets under management, with stakes in 600 companies. The Growth team, created in 2015, is one of the largest in Europe. I lead investments in the fintech and payment sector. This team includes 15 investors spread across Paris, London, Berlin, Munich and Barcelona, plus 5 operating partners and over 80 advisors for the investment side. This team manages €4.5 billion in Europe and has inves

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