CapHorn Invest
CapHorn Invest is a generalist Paris venture capital firm backing B2B software, healthtech, and climatetech startups from seed through growth. Climatetech is the sleeve where its two water deals sit. Founded in 2010, it is now part of the Anaxago Group. As of 2026, (don't) Waste Water tracks 2 water companies across 2 deals.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
CapHorn Invest sells itself on three words, trust, funding, network, and the network is the real product. The firm was built in 2010 around a pool of entrepreneur and executive backers who double as door-openers for the B2B startups it funds, the kind of warm introduction a young software company cannot buy. The network is the asset CapHorn actually sells, and the cheque is almost the easy part.
CapHorn Invest was co-founded by Guillaume Dupont, a chemical engineer who learned the trade investing for Schneider Electric Ventures before raising the firm's first fund. Today CapHorn runs two funds, and since 2022 it has sat inside the Anaxago Group, a French alternative-investment house that lets CapHorn syndicate deals to a wider base of private investors. Water has never been the headline here, which is exactly why its two water bets are worth a closer look.
CapHorn Invest's two water deals both live in digital water, the software-and-sensors corner of the sector rather than pipes and treatment plants. CapHorn backed Hydrelis, whose patented electronic water circuit breakers cut a building's supply the instant they sense an abnormal flow, and Blue Water Intelligence, which turns whole river basins into a subscription data service. CapHorn has even co-invested alongside Veolia, the global water major, which tells you how close these bets sit to the industry's plumbing even though CapHorn comes at water as a software investor.
What I watch with CapHorn Invest is whether water stays a footnote or grows into a chapter. Its climatetech mandate already spans buildings, energy, transport, and agriculture, all of which spill into water, so the raw material for more deals is sitting right there. For now CapHorn is a generalist that happens to own two of the more interesting digital-water names in France, and I am curious whether a third one turns up.
Water Commitment Score
Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.
How they invest
Portfolio · 2 water companies
Invests alongside
Highlighted = profiled on (don't) Waste Water.
Frequently asked
- What does CapHorn Invest invest in?
- CapHorn Invest backs B2B companies in enterprise software, healthtech, and climatetech, with cheques from EUR 1M to EUR 15M from seed through growth. Within water, (don't) Waste Water tracks two holdings: the leak-detection company Hydrelis and the river-basin data company Blue Water Intelligence.
- Is CapHorn Invest a water fund?
- CapHorn Invest is not a water fund. It is a generalist Paris venture capital firm whose climatetech sleeve has produced two water investments. Across its broader B2B portfolio, (don't) Waste Water counts two holdings as water deals, both in digital water rather than physical infrastructure.
- Who runs CapHorn Invest?
- CapHorn Invest was co-founded in 2010 by Guillaume Dupont, who came from Schneider Electric Ventures. Its current team is led by Managing Partner Flora Coppolani, with Dupont as Venture Partner and Alexandre Heraud also a Venture Partner. The firm is part of the Anaxago Group.
- Where is CapHorn Invest based?
- CapHorn Invest is headquartered in Paris, France, on Rue Sainte-Foy in the second arrondissement, with a second office in Lille. Founded in 2010, it invests mainly in French and European B2B startups and is part of the Paris alternative-investment house Anaxago.
- Is CapHorn Invest the same as Cape Horn Capital?
- No. CapHorn Invest, also written Cap Horn, is a Paris venture capital firm founded in 2010 and part of the Anaxago Group. It is unrelated to Cape Horn Capital and other similarly named firms. (don't) Waste Water tracks its water investments under the name CapHorn Invest.