French VC firm Newwave, cofounded by Pia d’Iribarne and Jean de La Rochebrochard in 2020, is being taken over by NJJ Holding, French billionaire Xavier Niel’s personal holding company, D’Iribarne and NJJ Holding announced today in a statement. D’Iribarne is leaving the firm and has decided to pursue other investment opportunities. But insiders describe a drama playing out behind the scenes.
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