France's startup ecosystem has experienced significant growth over the last decade, thanks to public support and private investment. However, the distribution of capital remains uneven, with most venture-backed startups based in Paris and founded by individuals from a select few universities and schools. To address this imbalance, venture capital firm Daphni has launched Time4, a fund with a target of €100 million, focused on investing in French founders from diverse backgrounds and rural areas.

The fund, which started fundraising in September, is not driven by charity, but rather by the conviction that there is an under-exploited economic potential in these underserved regions. According to Daphni venture partner Anita de Voisins, the fund's strategy is designed to go beyond the traditional inbound-first, Paris-centric approach of venture investment, providing more hands-on support to founders who lack mentors and access to resources.

To achieve this goal, Time4 has partnered with business school HEC Paris and two nonprofits, Les Déterminés and Live for Good. These partnerships will enable the fund to identify and support entrepreneurs from diverse backgrounds, including those from rural areas, jobseekers, individuals with disabilities, and those with non-traditional career paths. The fund will also write larger checks than other funds might at that stage, recognizing that the entrepreneurs they back often have limited access to "love money" or personal networks.

Time4's investment strategy is designed to inspire more people to start companies with ambitious goals, regardless of their background. The fund aims to invest in around 100 projects, with the goal of creating several dozen entrepreneurial success stories. This approach is aligned with the vision of co-promoter Moussa Camara, whose nonprofit Les Déterminés advocates for entrepreneurship that challenges social determinism.

In addition to its focus on diversity and inclusion, Time4 is committed to funding projects that improve social ties and facilitate access to products and services, such as access to employment, education, and healthcare. As an Article 9 fund, Time4 is making a commitment to support projects that drive positive social impact.

While fundraising is expected to continue until 2026, the roadshow has already started, with the initiative being presented on stage at Bpifrance's Quartier Général event on entrepreneurship in disadvantaged neighborhoods. Bpifrance, France's public investment bank, has launched the "Entrepreneuriat Quartiers 2030" program to boost entrepreneurship in priority urban policy neighborhoods, and the French Tech Tremplin initiative supports entrepreneurs from underrepresented backgrounds in the French tech ecosystem.

The appointment of Paul Lê as the new ambassador of French Tech Tremplin is a testament to the potential for success stories to emerge from these initiatives. Lê's grocery delivery startup La Belle Vie is often cited as an example of a breakthrough success, and Daphni's team is confident that there are many more to come.

As the French startup ecosystem continues to grow, initiatives like Time4 are crucial in addressing the existing disparities in capital distribution. By investing in founders from diverse backgrounds and rural areas, Time4 is poised to unlock new economic potential and drive positive social impact in the region.