TechFund Capital, the Silicon Valley-based venture capital firm, has closed its first round of fundraising for TechFund Capital Europe Management, its new European fund.

The new fund, based in Paris, is aiming for a final closing target of €100m ($88m) in June this year under the leadership of Jean-Michel Barbier. Barbier and his team left Thales Corporate Ventures (formerly Thomson-CSF Ventures), the corporate venturing arm of the French defence contractor, to set up TechFund in Europe.