No Result
View All Result
  • Private Data
  • Membership options
  • Login
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Home COUNTRY FRANCE

French VC firm Newwave is being taken over by billionaire Xavier Niel’s holding company – and insiders describe ‘highly unusual’ drama

Siftedby Sifted
October 24, 2024
Reading Time: 2 mins read
in FRANCE, VENTURE CAPITAL
Share on FacebookShare on Twitter

French VC firm Newwave, cofounded by Pia d’Iribarne and Jean de La Rochebrochard in 2020, is being taken over by NJJ Holding, French billionaire Xavier Niel’s personal holding company, D’Iribarne and NJJ Holding announced today in a statement. D’Iribarne is leaving the firm and has decided to pursue other investment opportunities. But insiders describe a drama playing out behind the scenes. 

NJJ is Newwave’s largest LP, Sifted understands. De La Rochebrochard will return to manage the fund, according to two sources, just months after being removed from the investment firm in April.

Sifted has reached out to De La Rochebrochard who said he could not comment on Newwave. Niel declined to comment.

Advertisement

“I am proud to have cofounded and led Newwave,” D’Iribarne said. “We have helped more than 20 companies grow and helped transform technology investing in Europe and beyond. I am grateful to have worked alongside so many incredible entrepreneurs and will continue to root for all of them.” 

The firm has stakes in buzzy AI startups Mistral and Poolside as well as carbon accounting platform Sweep.

Earlier this year, Newwave cofounder De La Rochebrochard was ousted from the fund for “a number of reasons” that made it “not possible anymore for him to stay at Newwave,” as D’Iribarne told Sifted back in April. De La Rochebrochard told Sifted he had decided to leave the firm to focus on Kima Ventures (Xavier Niel’s early-stage investment firm), where he’s a managing partner, but says that after disagreements on the terms of his departure, he was pushed out by D’Iribarne (who owned 60% of the management company). 

A ‘highly unusual’ situation 

Two sources close to the fund tell Sifted that in May, shortly after he was ousted, LPs called an assembly at Newwave to change the constitution documents of the fund such that it would enable the LPs to dismiss the management company.

D’Iribarne declined to comment.

One source close to the fund described it as “highly unusual” for a “GP disagreement [to spill] into the LPs”: “That’s supposed to be sacro-sanct,” they said. 

Niel’s professional relationship with Newwave’s cofounder De La Rochebrochard goes back to at least 2015, when he joined Kima as managing partner, according to his LinkedIn.

Read the orginal article: https://sifted.eu/articles/newwave-xavier-niel-france-vc-news/

Gateways to Italy

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

by Partner
June 6, 2023

Sign up to our newsletter

SIGN UP

Related Posts

DACH

Danish TODAY targets advisor efficiency with €1M in early funding

June 6, 2025
DACH

Startup-focused publication Trending Topics acquired by Vienna-based AI company newsrooms.ai

June 6, 2025
UK&IRELAND

Goodbye clicks, Hello answers: How is Answer Engine Optimisation (AEO) replacing traditional SEO?

June 6, 2025

ItaHub

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Italy’s SMEs export toward 260 bn euros in 2025

Italy’s SMEs export toward 260 bn euros in 2025

September 9, 2024
With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

April 23, 2024
EU’s AI Act, like previous rules on technology,  looks more defensive than investment-oriented

EU’s AI Act, like previous rules on technology, looks more defensive than investment-oriented

January 9, 2024

Co-sponsor

Premium

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

March 6, 2025
Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

February 10, 2025
Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Venture capital investments top €1.3bn in 208 rounds as of Sep30  in Italy. They were €1.5 in all 2023. The new BeBeez Report

Venture capital investments top €1.3bn in 208 rounds as of Sep30 in Italy. They were €1.5 in all 2023. The new BeBeez Report

October 28, 2024
Next Post

H.I.G. WhiteHorse Europe Provides Financing to Altares

White & Case advises Africell on refinancing

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

COUNTRY

Italy
Iberia
France
UK&Ireland
Benelux
DACH
Scandinavia&Baltics

CATEGORY

Private Equity
Venture Capital
Private Debt
Distressed Assets
Real Estate
Fintech
Green

PREMIUM

ItaHUB
Legal
Tax
Trend
Report
Insight view

WHO WE ARE

About Us
Media Partnerships
Contact

INFORMATION

Privacy Policy
Terms&Conditions
Cookie Police

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHub
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • Login
  • Cart