Xavier Niel and Jeremie Berrebi Launch Kima15 – the Fastest Investment Fund for Start-Ups
Kima 15 will be an even faster reacting offshoot of Niel and Berrebbi’s Kima Ventures, already described as the most active angel investors in the industry.
Xavier Niel Jeremie Berrebi
When Xavier Niel and Jeremie Berrebi co-founded Kima Ventures, in 2010 they had set themselves a very clear agenda. To invest in between 50 to 100 start up companies, each and every a year, irrespective of the nature of their business and where they were situated in the world. An agenda that they have stuck to resolutely ever since, with Kima Ventures having invested a total of €24 million in 210 start-ups from 23 countries around the World. .
Now the two French born serial entrepreneurs have taken their concept to the next stage with the foundation of their Kima15 start-up investment vehicle.
Xavier Niel and Jeremie Berrebi see their Kima 15 fund as an ideal vehicle for innovative start-ups to find necessary funding to get their project off the ground through simplifying and accelerating the fund-raising process.
Kima15 has set themselves a target to invest in around 50 projects a year and those companies who are apply for funding will be given a rapid response, and if accepted will be offered €150,000 of funding within two weeks of applying. In exchange for the funding, Kima15 will acquire a 15 percent stake in their business.
Announcing their latest venture Kima Ventures director Jeremie Berrebi pointed out that, under normal circumstances, start-ups can take several months to rasie sufficient funding, with valuable rescources being expended in raising capital that would better better invested on the development of their start up project.
With Kima15, the concept is that candidates can initially submit their proposals online without too much formality, with Xavier Niel and Jeremie Berrebi’s hope being that the new fund will attract projects from the emerging economies of the World.
Kima Ventures see themselves as a truly international concern, with Paris, France based Niel evaluating proposals together with Berrebi, whose base is in Israel. Kima is also represented by two full-time associates, Vincent Jacobs, who is based in London and Michel Sassano who is based in Paris.
To date Kima Ventures investments have been based around Internet industry orientated projects, although they have also accepted proposals from companies involved in the mobile industry, particularly in the development of video games, hardware, software and telecom applications.
Messrs. Niel and Berrebi hasten to point that despite the founding of fast lane Kima15, they fully intend to continue with their commitment to fund at leat 50 start ups a year through Kima Ventures.
Xavier Niel is best known as founder the French based Internet service provider Iliad, which trades under the Free brand is the second-largest ISP in France as well as being co-owner of the newspaper Le Monde. Niel remains Iliad’s majority shareholder, holding 63.93% of the share capital.
Despite his various business activities, in 2013, Xavier Niel found the time to found 42, a school that offered free computer training to all.
Niel current net worth is estimated to be in the region of €4.8 billion ($6.6 billion).
Jeremie Berrebi has a long history of success in founding internet based ventures. Berrebi founded Zlio.com in 2006 and still acts as Chairman and Publication Director for the company. Previously Jeremie Berrebi was involved in Net2one, ZDNet France as well as serving on the board of Restopolitan, operators of the discount card service in use in restaurants through France.
-Read more about: French telecoms provider Iliad, Iliad, Jeremie Berrebi, Kima Ventures, Kima15, Le Monde, London, Net2one, Start-Ups, Vincent Jacobs, Xavier Niel, ZDNet France, Zlio.com