Publicis Groupe [EURONEXT Paris: FR0000130577] and France Télécom-Orange [EURONEXT Paris: FR0000133308] are launching a €300m venture capital fund.
The two companies are committed to jointly investing €150m in the new fund with the aim to invite other investors to join them, to reach a target a final target of €300m.
The investment vehicle, which remains subject to the approval of the relevant authorities, aims to finance and develop entrepreneurs in the digital economy, content and services. Sectors include online marketing, e-commerce, mobile content and services, online gaming and social networks, as well as their associated technologies and infrastructures such as middleware, cloud computing, security, and online payments.
The fund will focus on two distinct categories:
– seed-capital and early-stage investment will target companies in France and Europe, with investments of up to €1m;
– later-stage financing for more established companies in France and Europe will provide up to €15m per project.
At a later time, the vehicle may also make investment in start-ups outside Europe, alongside American or Asian partner funds.
The new fund will be operated by a management company, with an Investment Committee independent of both France Télécom-Orange and Publicis Groupe.
FinSMEs
07/11/2011