NCI (WaterStart, NCITY)
Investor profile | Builders Republic
About
NCI is a Rouen‑headquartered, multi‑regional French PE/VC firm with offices in Paris, Lille and Rennes, investing across the northwest of France from seed (WaterStart Capital €39m; NCITY launched in 2022) to growth/LBO (RD5 €150m; RD6 launched 2025 with a €100m first close, targeting €150m).
Key facts
- Type
- Venture Capital
- Stages
- Seed,Series A
- Sectors
- Agnostic,B2B,B2C,Consumer,Business management software,Marketplace,Software / SaaS,Vertical SaaS,Advertising / Media,Agritech,AI & Automation,Beauty / Fashion,Blockchain / Crypto,Data & Infrastructure,Cyber & Security,Defense,Education,Energy,Fintech & Insurtech,Foodtech,Gaming,Hospitality / Tourism / Travel,Future of work / HR,Industry & Manufacturing,Legaltech / Regtech,Logistics / Supply chain,Martech,Mobility & Transportation,Proptech / Construction,Retail / Future of Commerce,Digital health,Deeptech,Smart cities
- Headquarters
- France
- Offices
- Paris,Rouen,Lille,Rennes
- Geographic focus
- France
- Lead / Follow
- Can lead and follow
- Ticket size
- 0.2M€ – 4M€
- Assets under management
- 400M€
- Founded
- 1999
Track record
- Portfolio companies: 30
- Total investments: 90
- Exits: 12
Notable investments in France
Upciti, Obat, Exotrail, Expliseat
Key differentiators
Regional fund