About Sofina
Sofina is a venture capital firm founded in 1956. It is primarily based out of Brussels, Belgium. As of Mar 2026, Sofina is an active investor, having invested in 103 companies, with 5 new investments in the last 12 months. It primarily invests in Series C round in India based startups. Its investments are spread across a wide range of sectors from Consumer to Retail and Enterprise Applications. Most recently it participated in the $***** Series C round of XBOW Overall, Sofina portfolio has seen 10 unicorns, 21 IPOs and 26 acquisitions including key companies like Flipkart, Lenskart and Myntra. A lot of funds co-invest with Sofina, with names like DST Global sharing a substantial percentage of its portfolio. Sofina has team of 68 people including 16 partners.Key Metrics
Team Members
Portfolio Locations
Rounds of Entry
Series C, Series B & 8 more
Portfolio Acquisitions
Portfolio Unicorns
Sofina's List of Top Investments
Sofina has a portfolio of 103 companies, including 10 unicorns. Their most notable investments are in THG and THG.Their portfolio spans across India, United States, France and 17 more locations. They have invested in Consumer, Retail, Enterprise Applications and 30 other sectors, across stages such as Series C, Series B and 8 more. Here is the list of top investments by Sofina:
1. Flipkart
Online retailer of various products including electronics, fashion, and groceries. The business provides an array of items such as mobile devices, laptops, televisions, and home appliances. Customers can also find clothing, footwear, beauty products, and home furnishings. Additionally, the retailer offers grocery items, baby care products, and sports equipment.
Key facts about Flipkart
- Founded Year: 2007
- Location: Bengaluru (India)
- Annual Revenue: ₹83,100Cr as on Mar 31, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $12.1B
- Employee Count: 15,025 as on Aug 31, 2025
- Investors: Kaplan Group Investments, Helion Venture Partners and 126 Others
- Latest Funding Round: Series J, May 25, 2024, $*****
- Highlight: Acquired
2. Lenskart
Online brand offering eyewear for men, women and kids. The product catalog includes sunglasses, contact lenses, screen glasses, progressive glasses, computer glasses, reading glasses, kids glasses and more from different brands. It also enables users to virtually try the glasses and home eye test on the mobile application. It operates as a vertically integrated firm, designing, manufacturing, distributing, and retailing prescription and regular eyewear. The application is available on both iOS and Android platforms.
Key facts about Lenskart
- Founded Year: 2008
- Location: Gurugram (India)
- Annual Revenue: ₹7,010Cr as on Mar 31, 2025
- Stage: Public
- Total Funding till date: $1.08B
- Employee Count: 13,713 as on Aug 31, 2025
- Investors: ADIA, Fidelity Investments and 56 Others
- Latest Funding Round: Series I, Jul 21, 2023, $*****
- Highlight: Public
3. Myntra
Online retailer of fashion, lifestyle, beauty, personal care, and home products. The company provides clothing, footwear, accessories, personal care items, and home furnishings. Merchandise includes apparel, shoes, jewellery, makeup, skincare, home décor, and bedding. The business offers a loyalty program and a personalized fashion feed.
Key facts about Myntra
- Founded Year: 2007
- Location: Bengaluru (India)
- Annual Revenue: ₹6,140Cr as on Mar 31, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $125M
- Employee Count: 1,158 as on Aug 31, 2025
- Investors: Helion Venture Partners, Naspers and 24 Others
- Latest Funding Round: Series E, Jan 27, 2014, $*****
- Highlight: Acquired
4. Mistral AI
Developer of frontier AI models, assistants, agents, and related services. It builds tailored AI systems for organizations. The company offers tools to train, fine-tune, and build open source models. It provides enterprise agents with orchestration, tooling, and safety features. The company enables private deployments on-premises, cloud, edge, and devices, while retaining data control. It delivers assistance from AI scientists across deployment, solutioning, and safety.
Key facts about Mistral AI
- Founded Year: 2023
- Location: Paris (France)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $3.05B
- Employee Count: 934 as on Mar 31, 2026
- Investors: Index Ventures, Credit Agricole CIB and 46 Others
- Latest Funding Round: Conventional Debt, Mar 30, 2026, $*****
- Highlight: Editors' Pick
Chain of limited service restaurant serving coffee. It offers a variety of flavors, including avocado & marie regal coffee, salted caramel macchiato, and fruity series. It also provides other items like bread, fried chicken, and cookies.
Key facts about Kopi Kenangan
Sofina's Year-on-Year Investment Trends
Sofina has invested in 104 companies over the last 39 years, with an average of 5 new investments annually in the last 10 years. In 2025, it made 7 investments, while as of Mar 2026, it has made 5 investments in this year. Its most recent first time investment was in XBOW and most recent follow-on round was in Oviva.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 3 | 2 | 5 |
2025 | 5 | 2 | 7 |
2024 | 3 | 1 | 4 |
2023 | 1 | 3 | 4 |
2022 | 11 | 8 | 19 |
2021 | 8 | 7 | 15 |
2020 | 5 | 5 | 10 |
2019 | 7 | 5 | 12 |
2018 | 5 | 5 | 10 |
2017 | 2 | 2 | 4 |
Sofina's Investments by Stage
Sofina is primarily an Late Stage Investor investor majorly investing in Series C (20) rounds where average round size is $1.52B, Series B (14) rounds where average round size is $1B and Series D (11) rounds where average round size is $1.83B.Stage of entry | No. of Investments |
|---|---|
Series C | 20 |
Series B | 14 |
Series D | 11 |
Series E | 5 |
PE | 4 |
Others | 13 |
Note: We have considered here, only first round of investments
Sofina's Investments by Sector
Sofina has a diverse portfolio, with companies operating in the Consumer, Retail, Enterprise Applications, Consumer Goods and Food and Agriculture. Notably, it has invested in 63 Tech companies, 54 Consumer (B2C) companies, 41 Enterprise (B2B) companies and at least 21 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 23 |
Retail | 17 |
Enterprise Applications | 11 |
Consumer Goods | 9 |
Food and Agriculture | 6 |
Others | 62 |
Note: We have considered here, only first round of investments
Sofina's Investments by Geography
Sofina has made most investments in India (18), followed by United States where it has made 11 investments.Country | No. of Investments |
|---|---|
India | 18 |
United States | 11 |
France | 8 |
United Kingdom | 8 |
China | 5 |
Others | 19 |
Note: We have considered here, only first round of investments
Sofina's recent investments
Sofina has made 5 investments in 2026 so far. XBOW and Talkiatry are the latest among them.Here are the most recent investments by Sofina:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 16, 2026 | United States | Series C | 4995 | [+5] | |
Feb 12, 2026 | United States | Series D | 2397 | [+3] | |
Jan 22, 2026 | United Kingdom | Series D | 3765 | [+5] | |
Jan 20, 2026 | United Kingdom | Series D | 5096 | [+6] | |
Jan 13, 2026 | India | Series D | 1217 | [+4] |
Unicorns in Sofina's Portfolio
Sofina has 10 unicorns in its portfolio - Mistral AI, Kopi Kenangan, SellerX and others. The most recent unicorn in their portfolio is Mistral AI. It became a unicorn in 2023.Here is a list of unicorns in Sofina's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
83 | Developer of frontier AI models, assistants, agents, and related services | 2023 | Paris | Series C | twlkyam | ||
82 | Chain of limited service restaurant serving coffee | 2017 | Jakarta | Series C | zdpzldc | ||
69 | Provider of brand acquisition and management services for amazon-based retailers | 2020 | Meerbusch | Series B | iiepbok | ||
77 | Online grocery retailer | 2014 | Karlin | Series D | mmmzxmm | ||
76 | Automated investment platform for ETFs, equities, bonds, commodities, and real estate | 2014 | Munich | Series F | yntldnc |
IPOs and Publicly Listed companies in Sofina's Portfolio
21 of Sofina's portfolio companies have become public. Pine Labs got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), in Nov 2025 at marketcap of $2.86B and Lenskart got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) at marketcap of $7.86B.Here are Sofina's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 14, 2025 | Oct 30, 2015 | Unattributed | 3877 | |
Nov 10, 2025 | - | - | 5621 | |
Nov 07, 2023 | Jul 22, 2021 | Series C | 2224 | |
Jul 07, 2021 | Oct 23, 2012 | Series C | 1352 | |
Jun 10, 2021 | 2017 | Series C | 7288 |
Acquired companies in Sofina's Portfolio
26 companies from Sofina's portfolio have been acquired. The most recent acquisition was IHS Towers in Feb 2026 by MTN for $*****.Here are Sofina's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 17, 2026 | - | - | 9690 | |
Aug 23, 2025 | Feb 24, 2025 | Series D | 1113 | |
May 07, 2025 | - | - | 5007 | |
Jul 12, 2024 | Dec 18, 2018 | Series D | 8581 | |
Oct 30, 2023 | - | - | 2700 |
Team profile of Sofina
Sofina has a team of 68 members including 16 Partners and 14 Principals located in Belgium, Singapore and 5 more locations. Sofina's team does not sit on the board of any company as of now.Here is a list of top team members in Sofina:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Brussels | - | ||
Partner | - | - | ||
Partner | Stockholm | - | - | |
Partner | Brussels | - | ||
Partner | Brussels | - | ||
Partner | Singapore | - | ||
Partner | Brussels | - | - | |
Partner | Milan | - | - | |
Partner | Cambridge | - | - | |
Partner | Ardooie | - | - | |
Partner | Brussels | - | - |
Co-investors of Sofina
Over the past 39 years, 1135 investors have co-invested in Sofina's portfolio companies. This includes funds and angels.
- Invested before Sofina: Peak XV Partners, Index Ventures and 459 others have invested in rounds before Sofina. There are 17 companies where Peak XV Partners has invested before Sofina and 6 companies where Index Ventures has invested before Sofina.
- Top Co-investors of Sofina: 154 investors entered a company along with Sofina. These include investors like DST Global (3 companies).
- Invested after Sofina: A total of 520 investors have invested in Sofina's portfolio after their investments. Top Investors include CPP Investments (4 companies), Baillie Gifford (4 companies) and Temasek (4 companies).
Recent News related to Sofina
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Talkiatry Announces $210M Series D RoundVC News Daily•Feb 13, 2026•Talkiatry, Perceptive Advisors, Andreessen Horowitz, Left Lane and 3 others
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Indian food firm The Whole Truth raises $51m series DTech in Asia•Feb 04, 2026•The Whole Truth Foods, Sauce, Sofina, Sofina and 1 other
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British workplace finance platform Stream secures €76M funding, bringing total to €194MEU-Startups•Jan 20, 2026•Stream, Sofina, Better Society Capital, Smash Capital and 4 others
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Visa startup Atlys in talks to raise $40 million from SIG, MakeMyTripMoneycontrol•Dec 17, 2025•Atlys, SIG, MakeMyTrip, Sofina and 1 other
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Belgian TMS startup Qargo secures €28 million to scale operations and productEU-Startups•Dec 11, 2025•Qargo, Sofina, Balderton Capital, Balton CP
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Shardul Amarchand Mangaldas & Co. Advised Novo Holdings A/S on Investment in MedGenome Inc.Lexology•Sep 26, 2025•Shardul Amarchand Mangaldas, Argus Partners, Sofina, MedGenome and 2 others
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MedGenome secures $47.5M Series E to expand genomic diagnosticsExpress Healthcare•Jul 21, 2025•MedGenome, Maj Invest, Novo Holdings, Sofina
