France Telecom and French advertising company Publicis announced plans to jointly set up a VC fund to invest in the digital sector.
The companies will jointly invest €150m, but they intend to invite other investors to join the fund, which could reach…
France Telecom and French advertising company Publicis announced plans to jointly set up a VC fund to invest in the digital sector.
The companies will jointly invest €150m, but they intend to invite other investors to join the fund, which could reach €300m.
The fund will focus on investments in start-ups in France and the European Union. It will target online marketing, e-commerce, mobile content and services, online gaming and social networks, cloud computing, security and online payments.
It will provide seed-capital and early-stage investment of up to €1m and later-stage financing for more established companies of up to €15m. In the future, the fund may decide to invest outside Europe, alongside American or Asian partner funds.
