<p>LONDON &mdash; French investor Idinvest Partners is in the final stages of raising a &euro;250 million (&pound;211 million) venture capital fund that will be used to back startups across Europe.</p> <p>Benoist Grossman and Matthieu Baret, two of the firm&#39;s partners, told Business Insider on Wednesday that they expect the fund to be closed by June.</p> <p>&quot;We are currently raising a new fund that will cover Europe,&quot; said Baret in London.</p> <p>Grossman said that the money was coming from pension funds, insurance companies, and elsewhere.</p> <p>&quot;We&#39;ve had a very successful strategy over the past 10 years and we have the deal flow,&quot; said Baret.</p> <p>The fund will be used to invest between &euro;5 million (&pound;4 million) and &euro;25 million (&pound;21 million) into startups that have the potential to scale into billion dollar businesses.</p>