Revaia, a European venture capital firm, has raised €250 million (US$272.81 million) for its second growth fund, Revaia Growth II, bringing its total assets under management to €600 million (US$654.75 million).

The fund secured an additional €100 million (US$109.13 million) since its initial close in late 2023, with investors including Bpifrance SACA, the European Investment Fund, BNP Paribas Cardif SA, and JPMorgan Chase & Co.

The British Business Bank contributed €20 million (US$21.83 million) following Revaia’s London office opening, and about one-third of commitments came from international investors.

Revaia has already deployed about 40% of the fund into six investments across sectors like energy transition, AI for insurance, and cybersecurity.

The Paris-based firm, with offices in London and Berlin, focuses on B2B SaaS companies.

Founded in 2018 by Alice Albizzati and Elina Berrebi, Revaia closed its first fund in 2021. Its portfolio includes Mews, a cloud software provider for hospitality, and Deepki, which enhances ESG performance for real estate.