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In 2024 , it ’s hard to wake up without study about yet another large financial support circle in an endeavour AI troupe . Intuition , however , a young VC firm based in Paris , is doing something ultra by reckon on consumer technical school exclusively .
Behind the scene , Hugo Amsellem(pictured left ) andEtienne Boutan(pictured right wing ) will be the general partners of this new fund . Amsellem has worked for Jellysmack and written about consumer tech and influencers for the past few years — admit thisvery interesting piece on lonelinessand how it involve consumer technical school and polish .
Amsellem is also well known as one of the first employees of The Family , which was an iconic inauguration accelerator base in Paris . More lately , people have been tattle about The Family because of the ongoing lawsuits against its co - founding father Oussama Ammar , who hasallegedly diverted zillion of eurosfor his own profit .
Amsellem leave behind The Family in 2019 . When we utter about this part of his career , he ’s defeated to see how things stop and wants to move on .
As for Boutan , he started his career as a professional basketball player . Before institute Intuition , he co - founded AI startupHeex Technologies .
The span team up to raise an initial fund of € 15 million ( $ 16 million at today ’s interchange rate ) . They have already invested in a handful of consumer startups in Europe and the U.S. after a first windup but they ’re still actively raising for the fund .
They also recruited Axel Toupane ( NBA champion ) , Eliott Kessas ( co - founder of Daring ) and Erika Batista ( worldwide better half at On Deck Runway Fund ) as venture partner .
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“ Hugo and I were amongst some of the most active early - stage investor in consumer startup in Europe and with the addition of Axel , Eliott and Erika as speculation partners we desire to check that we could thrive our coverage in the U.S. at the ticker of consumer tech in San Francisco and culture in Los Angeles , ” Boutan said .
The investment thesis for Intuition is quite simple : There ’s a lack of consumer technical school investment right now . That ’s because investing in consumer and culture has historically been a minute risky for two reasons .
First , it ’s hard to generate revenue when you ’re working on a merriment wandering app or the next swelled societal mesh . It sometimes feel like you ’re either work on the next unicorn or you ’ll end up in thedeadpool .
Second , there are a handful of consumer - focused tech company that are plainly dominate , like Meta , ByteDance and Snap . Sure , some Big Tech companies like Meta , Google and Amazon acquired consumer companionship to turn them into major consumer platforms like Instagram , YouTube and Twitch . But it feels like this acquisition windowpane has closed .
“ Working on consumer is really not coolheaded these days because it ’s been five to seven years of failure in the consumer vertical , and there has n’t been a lot of fluidity , ” Amsellem say .
“ All the funds that have seen these under - performances and have had a Brobdingnagian amount of money to deploy because they ’ve set up gigantic store , they still say ‘ yes , I ’m doing consumer mint , ’ but they do n’t say it too garish , ” he added . “ In fact , this is our opportunity . ”
At the same time , many smart people are still work on consumer product — thinkBeReal , Amo , Retro , The internet browser Company , etc . Innovation has n’t stop and some of these companies will succeed .
And with the current pace of innovation in artificial intelligence , Intuition look to see young interesting things happen in the space .
That ’s why Intuition wants to help the next wave of consumer company . The VC firm plans to place anything between € 100,000 and € 500,000 at the pre - germ or seed microscope stage . It will indue in more than 40 companies with its initial fund .
“ There ’s only one subject area I need to crop on , and that ’s consumer and everything adjacent to consumer — everything that changes culture , ” Amsellem pronounce .
Intuition is VC + events
“ I do n’t mean there ’s room for a € 30 million consumer store focused solely on consumer production , ” Amsellem aver . tote up events on top of investiture will grow suspicion ’s revenue , which should avail the firm when it comes to hire a bigger team and making fresh wager .
So the company wants to make a residential area of hoi polloi working on consumer and acculturation so that they can learn from each other and find the next self-aggrandizing thing together .
hunch is launching a series of case co - hosted with other key VC firms , such as Felix Capital ( in London ) , a16z ( in New York ) , Greylock ( in Los Angeles ) and General Catalyst ( in San Francisco ) . Later this year , this tour will culminate with Intuition ’s flagship event at Station F in Paris on September 20 .
This event scheme cue me of Jason Lemkin ’s SaaStr conferences . While SaaStr attracts 15,000 people for its primary conference , Intuition is still at the kickoff of its journey . The new firm plans to invite a few hundred people for its first result . But it ’s interesting to see that a VC firm is shoot consumer tech severely again .
