Shabir Vasram, Daphni: “We are seeing valuation anomalies in certain AI cases due to investors’ pressure”

Featured image of the article Shabir Vasram, Daphni: “We are seeing valuation anomalies in certain AI cases due to investors’ pressure”
Shabir Vasram is a Partner at venture capital firm Daphni. Focusing on seed to Series A funding, Daphni backed companies such as Back Market, Stockly, Albatross and Prediko, and is rapidly expanding into retail tech. He revealed to mind Retail that investments in agentic AI will be announced soon.
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What is the total amount of assets managed by Daphni?

Based in Paris with 25 employees (including around 10 investors), Daphni has €800 million in assets under management, with a strong focus on sustainability. We have stakes in around 60 companies in nine countries (France, Germany, Sweden, England, Switzerland, Spain, the U.S.A., Brazil and the U.A.E.). Daphni was founded in 2016 by Marie Ekeland (formerly of Elaia, the fund that first invested in Criteo), Willy Braun, Mathieu Daix (France Digitale), Pierre-Eric Leibovici and Pierre-Yves Meerschman (Orkos Capital). We have always had this focus on sustainability, but today we are combining it with an increased tech dimension, particularly through deep tech. At Daphni, our first pillar is this data-driven approach. We work with an internally developed platform, which serves as a tool for managing deal flow, sourcing, community engagement and reporting. This application manages data collected by investors, scrapes external databases (commercial traction, recruitment), market alerts and automates certain tasks. We can map the competitive environment to help us identify opportunities before others. Our second pillar is our community approach. The Daphni community brings together 350 people, including investors, family offices, institutional investors, business angels and tech entrepreneurs. These experts help us provide more tailored support to start-ups in specific areas.

How is your portfolio structured, and when do you invest?

The investment period ranges from 4 to 5 years. Each fund lasts an average of 10 years. At Daphni, we have two separate funds.

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