# Nicolas Boulay

> Nicolas Boulay is a seed investor at I-Source Gestion backing Manufacturing and Packaging Services. See 3 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [I-Source Gestion](https://shizune.co/investors/profile/i-source-gestion)
- Location: Paris, France
- Total investments: 3
- Last investment: Dec 2023
- Lead investor: 33%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/niboulay

Nicolas Boulay is a seed investor at I-Source Gestion in Paris focused on Manufacturing and Packaging Services. Nicolas Boulay, graduate of ESC, earned a DESCF and DESS at Dauphine University. Nicolas has conducted many strategy consulting assignments for high-tech companies, and then managed LinkTech Venture, a venture advisory firm.He joined iSource in January 2000 where he has had the opportunity to lead many external growth and build-up operations,and is now looking after Internet and Multimedia investments.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Manufacturing | 1 | 33% |
| Packaging Services | 1 | 33% |
| Industrial Engineering | 1 | 33% |

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 1 | 33% |
| Funding Round | 1 | 33% |
| Venture - Series Unknown | 1 | 33% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Vulkam | Vulkam is an innovative microtechnology start up from the french research laboratories. | $15.5M | Venture - Series Unknown | Dec 30, 2023 |  |
| Cilkoa | Cilkoa offers an alternative to plastic packaging thanks to cellulosic substrates which have barrier properties to oxygen and water vapor as well as resistance to humidity. | $3.6M | Seed | Jul 17, 2023 |  |
| 3D Sound Labs | Founded in January 2014 by entrepreneur Dimitri Singer, consumer electronics specialist Xavier Bonjour (Technicolor, LG, Philips) and Centrale-Supelec research engineer Renaud Séguier, 3D Sound Labs aims to revolutionize the user 3D audio experience. It creates an unprecedented immersive and realistic audio experience on mobile platforms, formovies, games and virtual reality. |  |  |  |  |

3 of 3 investments shown.

## Co-investors
- [Crédit Agricole Alpes Development](https://shizune.co/investors/profile/cr%C3%A9dit-agricole-alpes-development) — VC Fund, 2 deals together
- [BNP Paribas Développement](https://shizune.co/investors/profile/bnp-paribas-developpement) — VC Fund, 1 deal together
- [Bpifrance](https://shizune.co/investors/profile/bpifrance) — VC Fund, 1 deal together
- [Groupe SEB](https://shizune.co/investors/profile/groupe-seb) — VC Fund, 1 deal together
- [INCO Ventures](https://shizune.co/investors/profile/inco-ventures) — VC Fund, 1 deal together
- [Lita.co](https://shizune.co/investors/profile/lita-co) — VC Fund, 1 deal together

## About I-Source Gestion

VC Fund · Paris, France

I-Source Gestion is a French venture capital firm focused on early-stage information and communication technologies.

5 contacts available at I-Source Gestion.

| Name | Title | Profile |
| --- | --- | --- |
| Jean-Philippe Zoghbi | General Counsel | https://shizune.co/investors/profile/jean-philippe-zoghbi |
| Nicolas Boulay | Associate | https://shizune.co/investors/profile/nicolas-boulay |
| Didier Moret | Managing Partner | https://shizune.co/investors/profile/didier-moret |
| Eric Harle | Managing Partner | https://shizune.co/investors/profile/eric-harle |
| Francois Rene Letourneur | Partner | https://shizune.co/investors/profile/francois-rene-letourneur |

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## FAQ

### What does Nicolas Boulay invest in?

Nicolas Boulay invests primarily in Manufacturing, Packaging Services and Industrial Engineering startups, most often at Seed and Funding Round stage. Most of the 3 investments tracked by Shizune back companies in France. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Nicolas Boulay last invest?

The most recent investment recorded for Nicolas Boulay closed in Dec 2023. Shizune tracks 3 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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