Veil Jourde, advisor to Reflexion Capital on the sale of its stake in Phocea DC to Marguerite

Veil Jourde is advising Reflexion Capital, a tech and digital specialist, on the sale of a majority stake in Phocea DC, a Marseille-based data center operator, to the pan-European infrastructure fund Marguerite.

Founded in 2023 by Damien Desanti, Phocea DC has been operating its first data center in Marseille, DC-M1, since January 2025. Located in the heart of the 3rd arrondissement, the facility occupies 1,700 m² in a refurbished building and offers 600 kW of IT capacity, around 250 racks and 1.2 MW of total power.

Following an initial €5 million funding round with Reflexion Capital in 2025, Phocea DC now welcomes Marguerite as a shareholder, which is investing with the support of the European Union’s InvestEU programme. A regional banking syndicate is also supporting the transaction.

With a second site, DC-M2, currently under development, Phocea DC will benefit from a €120 million investment plan.

Positioning itself as complementary to hyperscale campuses, Phocea DC operates entirely under French law and aims to make its local data center model a replicable benchmark for other French and European regions.

In this transaction, Reflexion Capital was advised by Veil Jourde, with Benoît Gréteau, partner, and Céline Guo, associate, on tax matters.