French investor Alexandre Dewez is leaving Paris-based VC Eurazeo, a backer of HR tech unicorn Swile and identity verification platform Onfido, to join prominent solo GP Harry Stebbings in London, Sifted has learnt from multiple sources.
Dewez, who has spent over five years working with Eurazeo’s venture team, will leave the company at the end of August, according to one source with direct knowledge.
Four sources say that the investor will be working on a new fund that Stebbings is launching in London.
Sifted understands — as has also been reported by Business Insider — that Stebbings is raising $400m, split between an early-stage and late-stage fund.
Two sources tell Sifted that Stebbings has also recruited former DST Global principal Paul Bonnet to work on the new fund, which was also reported by Business Insider. Bonnet announced that he was leaving DST Global in May.
Dewez, Bonnet and Stebbings did not reply to a request for comment.
A podcaster-turned-VC, Stebbings is one of Europe’s most renowned solo GPs. In 2021, he raised a $33m early-stage fund and a $107m growth fund, and has since backed companies like Ledgy, Remote, Sorare and BeReal.
He was joined in 2021 by a partner, Kieran Hill, who focuses on seed investments.
Leaving Eurazeo
Eurazeo is one of France’s most established investors, with strategies covering private equity, growth and venture and a total €35bn in assets under management (AUM).
The firm acquired its rival Idinvest Partners in 2018 to increase its focus on venture capital. Since then, it has raised a €1.6bn growth fund as well as a €400m smart cities fund.
Last year, the firm’s growth team left to start a new fund. The company told Sifted that following this, it had postponed fundraising for its fourth growth fund.
Dewez joined Eurazeo’s venture team in 2019 and focused on seed and Series A investments in tech companies across Europe. He grew to become the venture digital team’s vice president.
The investor is known for his annual report on French tech, a hundred-page long document he curates that includes statistics and analysis of the ecosystem; as well as his weekly newsletter ‘Overlooked’, in which he provides insights about different startups.
A spokesperson for Eurazeo said: “In general, we do not comment on staff movement. The departure of collaborators is part of any company’s life.”
“We have a top-tier venture team in Europe, as our recent operations show, and its managerial structure remains unchanged.”
Read the orginal article: https://sifted.eu/articles/alexandre-dewez-harry-stebbings-eurazeo-exit-news/
