Celeste Management
Céleste Management is a Geneva single family office that invests one private family's wealth across clean energy, deeptech, and water. In venture it backs early-stage European companies, and water is one slice of that book: as of 2026 Leviathan tracks 2 water investments, desalination firm Adionics and water-diagnostics maker bNovate.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
Céleste Management is the family office behind a single private fortune, run out of Geneva since 2013, and most of its venture cheques go to clean energy and climate hardware rather than water. Where water does show up, it shows up through the founder: Dimitri Boulanger sits on the board of bNovate Technologies, the Swiss company whose automated analysers can tell a utility within hours, not days, whether the water in a pipe is safe to drink.
Céleste Management invests the way a family office can and a time-limited fund often cannot, across private equity, venture, infrastructure, real estate and private debt, with no fund clock forcing an exit. In water that patience has so far bought two deeptech bets at Series B, a growth-stage venture round: Adionics, which pulls salt out of brine with an ion-capturing liquid instead of brute-force evaporation, and bNovate, which automates the microbiology that water testing still mostly does by hand.
Céleste Management is a generalist family office first and a water investor second, and it would never call itself a pure-play water fund, one that backs water and nothing else. Its two water companies, though, sit exactly where the hard, unglamorous problems live: turning seawater into drinking water, and catching contamination in the field before anyone drinks it. As of 2026 I count just 2 water deals from Céleste in my Leviathan database, which is two more than most generalist family offices ever write.
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 Celeste Management invest in?
- Céleste Management is a Geneva single family office that invests one family's wealth across private equity, venture, infrastructure, real estate and private debt. In venture it favours early-stage clean energy and deeptech across Europe; in water, Leviathan tracks investments in desalination firm Adionics and water-testing firm bNovate Technologies.
- Is Celeste Management a water fund?
- Céleste Management is not a dedicated water fund. It is a generalist family office whose clean-energy and deeptech book happens to include two water companies. (don't) Waste Water rates its water commitment Occasional, reflecting 2 water deals to date rather than a standing, water-only thesis.
- What stage does Celeste Management invest at?
- Céleste Management backs companies mainly at early and growth venture stages. Its two tracked water deals were Series B rounds, a growth-stage round that follows seed and Series A. As a single family office it deploys its own family capital, so it carries no fixed fund size or outside investors to answer to.
- Who runs Celeste Management?
- Céleste Management was founded in 2013 and is led by Dimitri Boulanger, its founder, CEO and chief investment officer, who also sits on the board of portfolio company bNovate. The investment team includes managing directors Fabien Rizzi and Jules Bertrand, working from the firm's Geneva office.
- Where is Celeste Management based, and is it the same as Celeste the French telecom firm?
- Céleste Management SA is based in Geneva, Switzerland, on Boulevard du Théâtre. It is a single family office and is not connected to Celeste, the French B2B telecom and internet provider, nor to similarly named investment firms such as Celeste Capital.