Iris Capital, the French venture capital investor, has held a €144m ($178m) second closing of its latest fund, the first since gaining independence from Caisse des Dépôts et Consignations earlier this year.

The success of this fund-raising exercise, amid uncertain market conditions, vindicates the decision by the firm, formerly known as Part'Com, to become independent from Caisse des Dépôts et Consignations, an investment bank fully owned by the French state.