Teams up with Publicis to support Europe’s mobile services entrepreneurs.
France Telecom Orange and Publicis Groupe's new venture capital fund will call on other investors to join them and also contribute €150 million to meet the €300 million grand target.
The capital will finance EU firms – particularly French ones – in a bid to build upon creativity and growth across the continent, though it currently awaits the green light from official bodies.
The duo claims investment targets will include digital tech and services such as marketing, e-commerce, gaming, social networks, security, online payments and more.
Three separate categories will include:
* Early stage — to target struggling companies up to €1 million.
* Later stage — to target established firms providing up to €15 million.
* Overseas — potential investments outside of Europe such as the US or Asia Pacific.
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Stéphane Richard, CEO, France Telecom Orange, said: "French investment capital has been suffering for far too long from the absence of a solid ecosystem to link young companies together with larger groups, research centers and government systems.
"We're very happy to be working with Publicis Groupe to finance and support digital start-up projects. This is a surging growth market and it's an important challenge: our job will be to contribute to the emergence of tomorrow's leaders. From the point of view of France Télécom-Orange, the new fund complements our investments in R&D, as well as creating a terrific opportunity to be present at the birth of growth projects."
The venture will be monitored by a management company and an independent investment committee with further details to be released in due course.
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