Gallo, Thomas, Lyne and Dua involved in this week's fund raising efforts
From our Women's PE Briefs - week commencing March 22, 2021
Gallo and Thomas to be involved in investing Breega’s new 110M euros fund
Breega, whose investment team includes partner Isabelle Gallo and principal Camille Thomas, raises a new fund. The Paris VC firm closed its third fund at 110 million euros. Breega now has 260 million euros under management. Breega has already used the fund to back 12 companies, including reciTAL and Ponicode. Founded in 2016, Breega invests in seed and Series A rounds.
Isabelle serves on the board of Gymlib, Libeo and Trustpair. She joined Breega in 2016 after previously co-founding and serving as chief executive at Pepeats. Camille joined the firm in 2019.
Lyne and Dua’s BBG Ventures raises a new $50M fund
BBG Ventures, which is led by Susan Lyne and Nisha Dua, has raised a new fund to invest in women-led companies. The New York venture firm closed its third fund at $50 million, according to Forbes. The new fund is a significant step up for BBG as its two prior funds were each $10 million and each backed by AOL/Verizon – where the two each previously worked.
Since its founding in 2014, BBG has backed more than 75 companies. It already has used the fund to back such companies Alula, which was founded by Liya Shuster-Bier and provides information and support for cancer patients and their families and friends, and Real, a therapy startup founded by Ariela Safira.
In 2020, BBG had one portfolio company, Squad, a group video chat app co-founded and led by Esther Crawford, acquired by Twitter, and another, Trash, Inc., which was founded by Hannah Donovan and Geneviève Patterson, acquired by VSCO.
Susan formed BBG after leading AOL’s Brand Group. Nisha served as her chief of staff. Susan’s background also includes roles with Gilt Groupe, Martha Stewart Living and ABC Entertainment. Nisha previously spent time as an M&A lawyer and a Bain & Co. consultant.