# NACO

> NACO is a VC fund in Bordeaux backing Health Care, Software and Medical Device. See 20 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Bordeaux, France
- Total investments: 20
- Last investment: Nov 2025
- Lead investor: 5%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/fonds-naco
- Website: https://www.naco-invest.fr/le-fonds

NACO is a co-investment fund for start-ups and small and medium-sized businesses (SMEs). NACO is a regional co-investment fund backed by Région Nouvelle-Aquitaine and managed by M/Capital Partners.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $658k–$4.1M |
| Series A | $4.4M–$24M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 4 | 20% |
| Software | 3 | 15% |
| Medical Device | 3 | 15% |
| Information Technology | 3 | 15% |
| AgTech | 2 | 10% |

40 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 10 | 50% |
| Series A | 4 | 20% |
| Venture - Series Unknown | 3 | 15% |
| Series B | 1 | 5% |
| Funding Round | 1 | 5% |

6 stages tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Hypr Space (Hybrid Propulsion for Space) | Get ready for the next technology leap in space industry. We develop engines and vehicles that are cheaper, quicker and greener for earth to space and space to space transportation systems. Our patented innovation is based on brand new architecture for hybrid propulsion engines, unlocking previously unreachable capabilities. | $24.3M | Series A | Nov 17, 2025 |  |
| Praysbee | Praysbee is a French agri-tech startup that develops innovative, environmentally friendly spraying systems for vineyards. Their main product, the Wulp® boom, reduces chemical drift by over 90%, helping winegrowers spray more precisely and sustainably. | $3.5M | Seed | Jul 25, 2025 |  |
| DESKi | DESKi, “learn” in Breton, is a young and innovative company, combining a strong expertise in both medical imaging and artificial intelligence. DESKi works hand in hand with medical practitioners and researchers to develop automated, accurate, and data-driven image analysis tools for an enhanced patient care. | $6M | Seed | Jun 18, 2025 |  |
| Nova Carbon | Carbon fiber recycling | $1.1M | Seed | Feb 14, 2025 |  |
| Pony | Pony is the first shared micro-mobility scheme to decentralise ownership of its vehicles, because they believe shared vehicles should belong to the people who use them. They let any of their users acquire & share their ponies, ensuring that the profits remain in the local economy. | $14.4M | Series B | Sep 18, 2024 |  |
| inHEART | inHEART is a spin-off from IHU Liryc and Inria, two top-tier research centers respectively in cardiac electrophysiology and digital science and technology, that develops software solutions for medical image analysis and cardiac modeling in heart rhythm disorders. inHEART vision is to make the bridge between radiology and cardiology to become aworldwide leader in image-guided diagnosis, therapy planning and navigation software solutions for heart rhythm disorders. | $11M | Series A | May 06, 2024 |  |
| RebrAIn | RebrAIn makes it possible for individuals with severe Parkinson's or essential tremor disorder to get DBS treatment with precision targeting. Neurosurgeons can more accurately pinpoint the target location for electrode surgical insertion with the use of this SaaS service. Its innovative method predicts the treatment zone in each patient'sbrain using machine learning clinical patient data. | $4M | Seed | Mar 18, 2024 |  |
| GEEV | GEEV is a collaborative mobile app that allow its members either to donate objects, or to collect various stuff for free. GEEV embeds all the features to easily discuss, meet and give a second life to its objects. | $4.9M | Venture - Series Unknown | Feb 09, 2024 |  |
| ALOGIA Groupe | ALOGIA Groupe offers preventive health responses to senior people at home through care management and innovative services. | $7.1M | Venture - Series Unknown | Jan 15, 2024 |  |
| Touch Sensity | Touch Sensity is an information technology company that specializes in the fields of IoT and sensors. |  | Seed | Jan 01, 2024 |  |

10 of 20 investments shown.

## Co-investors
- [Epopée Gestion](https://shizune.co/investors/profile/epop%C3%A9e-gestion) — VC Fund, 3 deals together
- [IRDI SORIDEC Gestion](https://shizune.co/investors/profile/irdi-soridec-gestion) — VC Fund, 3 deals together
- [AQUITI Gestion](https://shizune.co/investors/profile/aquiti-gestion-aci) — VC Fund, 2 deals together
- [Audacia](https://shizune.co/investors/profile/audacia) — VC Fund, 2 deals together
- [Better Angle](https://shizune.co/investors/profile/better-angle) — VC Fund, 2 deals together
- [BNP Paribas Développement](https://shizune.co/investors/profile/bnp-paribas-developpement) — VC Fund, 2 deals together

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## FAQ

### What does NACO invest in?

NACO invests primarily in Health Care, Software and Medical Device startups, most often at Seed and Series A stage. Most of the 20 investments tracked by Shizune back companies in France. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is NACO's check size?

NACO typically joins rounds of $658k–$4.1M at Seed and $4.4M–$24M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds NACO participates in.

### When did NACO last invest?

The most recent investment recorded for NACO closed in Nov 2025. Shizune tracks 20 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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