Introducing Resonance, a new €150m VC fund supporting pioneers in building the future | by Maxime Le Dantec | Resonance | Oct, 2022

Alban Oudin and I met 10 years ago while studying at Centrale, where we shared the same passion for entrepreneurship and technology and soon became close friends. Since then, our professional careers have been intertwined as we have constantly learned from each other. Straight out of university, Alban co-founded Shapeheart, an IoT startup for runners, while I became CTO and co-founder of Conv.ai, an AI software for automating customer support conversations. After going through the ups and downs of entrepreneurship for a number of years, we both decided to switch to venture capital five years ago. Alban quickly became one of Xange’s top startup scouts while I started at Alven before joining Balderton to lead their efforts in France. All along we knew that we would probably create something together someday.

Today we are proud to announce the launch of our 150 million euro VC fund, resonance. We plan to invest in European founders at Seed and Series A, with initial checks ranging from €100,000 to €10m. Resonance is the new venture tech investment vehicle from Otium Capital, the family office of Pierre-Edouard Stérin, founder of global market leader Smartbox and successful investor in French unicorns Payfit and Owkin. Alban and I will lead fund strategy and investments, working closely with entrepreneurs while benefiting from Otium Capital’s resources and experience, having invested over €180m in VC over the past 10 years.

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We believe in a tailored and human approach to VC. Because of this, Alban and I plan to only close a few deals a year to spend enough time with entrepreneurs working on what really matters: from recruiting (how to attract the best talent) to fundraising (how to appeals to international Tier 1 funds in their next funding rounds) to long-term strategy (how to set the right roadmap for the company). We have only one mission: to help entrepreneurs succeed and win in their markets.

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Resonance is a multi-sector fund because we believe that entrepreneurial success has many faces. Alban focuses on consumer and SMB/verticalized SaaS, having previously led investments in Animaj, Vertuoza, Cajoo, Silvr, Join Stories and Workmotion at Xange. I will focus on Enterprise SaaS, Fintech and Web3 with notable investments in GitGuardian, Kili Technology, Numeral or Request from my time at Balderton Capital.

At Resonance, we believe we can offer entrepreneurs a superior fundraising experience, unlike what we’re currently seeing in the market. All too often, funds are opaque about the various steps in their process and do not clearly communicate their timelines. 80% of investment decisions are made at partner meetings, but their formats do not allow for two-way discussion, focus too much on form rather than content, and have a natural propensity for strong communicators. At Resonance we make quick decisions, often offering a term sheet in under two weeks and making sure the process is a two-way conversation. Over the long term, our evergreen structure means we don’t have the same time constraints on exits as most funds.

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Resonance also has a strong philanthropic reach. Aside from carried interests held by partners, all profits from the fund that are not reinvested are donated to Pierre-Edouard Sterin’s charity, Le Fonds du Bien Commun, which invests in positive impact projects including education, disability and inclusion, thereby increasing the Code of Venture applied to philanthropy. Alban and I feel privileged to lead a fund that reinvests its profits in this way and are committed to designing a fund strategy that reflects Resonances’ philanthropic roots.

Resonance aspires to become one of the leading European VCs.
To all entrepreneurs, we would be honored to be a part of your journey.

From left to right: François Durvye, CEO of Otium Capital, Alban Oudin, Partner of Resonance, Maxime Le Dantec, Partner of Resonance, and Pierre-Edouard Stérin, Founder and President of Otium Capital

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