As VC firms invest more in B2B startups, Intuition is a new VC fund focusing on consumer tech

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In 2024, it’s difficult to aftermath up without reference astir yet different ample backing information successful an endeavor AI company. Intuition, a caller VC patient based successful Paris, is doing thing extremist and betting connected user tech exclusively.

Behind nan scenes, Hugo Amsellem (pictured left) and Etienne Boutan (pictured right) will beryllium nan wide partners of this caller fund. Hugo Amsellem has worked for Jellysmack and written astir user tech and influencers for nan past fewer years — including this very absorbing portion connected loneliness and really it affects user tech and culture.

Amsellem is besides amended known arsenic 1 of nan first labor of The Family, which was an iconic startup accelerator based successful Paris. More recently, group person been talking astir The Family because of nan ongoing lawsuits against its co-founder Oussama Ammar. He has supposedly diverted millions of euros for his ain profit.

Amsellem near The Family successful 2019. When we talked astir this portion of his career, he’s some disappointed to spot really things ended and wants to move on.

As for Etienne Boutan, he started his profession arsenic a master hoops player. Before founding Intuition, he co-founded AI startup Heex Technologies.

The duo teamed up to raise an first money of €15 cardinal ($16 cardinal astatine today’s speech rate). They person already invested successful a fistful of user startups successful Europe and nan U.S. aft a first closing but they’re still actively raising for nan fund.

They besides recruited Axel Toupane (NBA champion), Eliott Kessas (co-founder of Daring) and Erika Batista (General Partner astatine On Deck Runway Fund) arsenic task partners.

“Hugo and I were amongst immoderate of nan astir progressive early-stage investors successful user startups successful Europe and pinch nan summation of Axel, Eliott and Erika arsenic task partners we wanted to make judge we could grow our sum successful nan U.S. astatine nan bosom of user tech successful San Francisco and civilization successful Los Angeles,” Etienne Boutan said.

The finance thesis for Intuition is rather simple. There’s a deficiency of user tech finance correct now. That’s because investing successful user and civilization has historically been a spot risky for 2 reasons.

First, it’s difficult to make gross erstwhile you’re moving connected a nosy mobile app aliases nan adjacent large societal network. It sometimes feels for illustration you’re either moving connected nan adjacent unicorn aliases you’ll extremity up successful nan deadpool.

Second, location are a fistful of consumer-focused tech companies that are simply dominating — Meta, ByteDance, Snap… Sure, immoderate large tech companies for illustration Meta, Google and Amazon acquired user companies to move them into awesome user platforms for illustration Instagram, YouTube and Twitch. But it feels for illustration this acquisition model has closed.

“Working connected user is really not cool these days because it’s been 5 to 7 years of failures successful nan user vertical, and location hasn’t been a batch of liquidity,” Amsellem told me.

“All nan costs that person seen these under-performances and person had a immense magnitude of money to deploy because they’ve raised gigantic funds, they still opportunity ‘yes, I’m doing user deals’, but they don’t opportunity it excessively loud,” he added. “In fact, this is our opportunity.”

At nan aforesaid time, galore smart group are still moving connected user products — think astir BeReal, Amo, Retro, The Browser Company, etc. Innovation hasn’t stopped and immoderate of these companies will succeed.

And pinch nan existent gait of invention successful artificial intelligence, Intuition expects to spot caller absorbing things happening successful nan space.

That’s why Intuition wants to thief nan adjacent activity of user companies. The VC patient plans to put thing betwixt €100,000 and €500,000 astatine nan pre-seed aliases seed stage. It will put successful much than 40 companies pinch its first fund.

“There’s only 1 taxable I want to activity on, and that’s user and everything adjacent to user – everything that changes culture,” Amsellem said.

Intuition is VC + events

“I don’t deliberation there’s room for a €30 cardinal user money focused solely connected user products,” Amsellem said. Adding events connected apical of finance will turn Intuition’s revenue, which should thief nan patient erstwhile it comes to hiring a bigger squad and making smarter bets.

So nan institution wants to create a organization of group moving connected user and civilization truthful that they tin study from each different and find nan adjacent large point together.

Intuition is launching a bid of events co-hosted pinch different cardinal VC firms, specified arsenic Felix Capital (in London), a16z (in New York), Greylock (in Los Angeles) and General Catalyst (in San Francisco). Later this year, this circuit will culminate pinch Intuition’s flagship arena astatine Station F successful Paris connected September 20th.

This arena strategy reminds maine of Jason Lemkin’s SaaStr conferences. While SaaStr attracts 15,000 group for its main conference, Intuition is still astatine nan commencement of its journey. The caller patient plans to induce a fewer hundreds group for its first events. But it’s absorbing to spot that a VC patient is taking user tech earnestly again.