Brand new VC fund Intuition, which is based in Paris and is led by Hugo Amsellem and Etienne Boutan, is exclusively focusing on consumer tech.
Intuition is set to launch a slew of events alongside other VC firms such as Felix Capital (in London), a16z (in New York), Greylock (in Los Angeles) and General Catalyst (in San Francisco), which will culminate in Paris this fall.
“Hugo and I were amongst some of the most active early-stage investors in consumer startups in Europe and with the addition of Axel, Eliott and Erika as venture partners we wanted to make sure we could expand our coverage in the U.S. at the heart of consumer tech in San Francisco and culture in Los Angeles,” Boutan said, during an interview with TechCrunch.
“Working on consumer is really not cool these days because it’s been five to seven years of failures in the consumer vertical, and there hasn’t been a lot of liquidity,” Amsellem said.
“All the funds that have seen these under-performances and have had a huge amount of money to deploy because they’ve raised gigantic funds, they still say ‘yes, I’m doing consumer deals,’ but they don’t say it too loud,” he added. “In fact, this is our opportunity.”
“There’s only one subject I want to work on, and that’s consumer and everything adjacent to consumer — everything that changes culture,” Amsellem said, per the report.
“I don’t think there’s room for a €30 million consumer fund focused solely on consumer products,” Amsellem said.
