French venture capital firm Daphni has announced the first closing of its latest fund, Daphni Blue, with €200 million (US$215 million) secured.

The firm aims to raise up to €250 million (US$270 million) by the end of the year.

Since 2015, Daphni has invested in 70 European startups and plans to invest in 40 additional startups through this fund.

Key contributors to the fund include Crédit Mutuel Arkéa, Bpifrance, the European Investment Fund, PRO BTP, and Swen Capital Partners.

The firm will focus on scientific innovation in fields such as life sciences, physics, chemistry, and mathematics.