FT-Orange commits to digital VC funds

France Telecom-Orange has announced it is contributing to the creation of three venture capital funds dedicated exclusively to digital companies.

The France-based operator will partner with media group Publicis and investment firm Iris Capital Management to provide a combined total investment of over €300 million.

A growth fund that will target established companies in France and Europe and a global fund that will invest in start-ups outside Europe are already operational.

An early stage fund to provide seed-capital and early-stage investment to young companies in France and Europe will launch during Q2 this year.

“This joint initiative with Publicis Groupe and Iris is a pioneer in its field,” commented Stéphane Richard, Chairman and CEO of FT-Orange.

Orange and Publicis Groupe will each acquire a minority 24.5 percent interest while Iris will retain the remainder.

Gervais Pellissier, deputy CEO of FT-Orange, will serve as deputy chairman of the funds' supervisory board.

“The financial contribution and value-added that Orange and Publicis Groupe will bring to this initiative will considerably reinforce our ability to accompany budding companies in the digital economy,” commented Iris managing partners Antoine Garrigues and Pierre de Fouquet.

Iris has recently invested in online games monetisation platform Mediastay, search-engine optimisation company Searchmetrics and specialist payment technology solutions company Clear2Pay.

More News

Telia Carrier heads east with new route Telia Carrier heads east with new route Telia’s wholesale arm has established a new cable route between Stockholm and St. Petersburg and upgraded submarine cables to boost its network capacity.   More detail
European Communications launches digital transformation survey European Communications launches digital transformation survey European Communications’ latest quarterly survey delves into operators’ views about digital transformation. More detail
Profit-hungry Ekholm officially takes the helm at Ericsson Profit-hungry Ekholm officially takes the helm at Ericsson Börje Ekholm’s task of reviving Ericsson has begun as he starts his first day as President and CEO of the Sweden-based vendor. More detail
Nokia CMO: “Investors want to see performance, not excuses” Nokia CMO: “Investors want to see performance, not excuses” Nokia’s Chief Marketing Officer has said the company must perform this year as the vendor marks the first anniversary of its merger with Alcatel Lucent. More detail
Jersey FTTH network hits 70% connections milestone Jersey FTTH network hits 70% connections milestone JT has connected 70 percent of planned premises to a new FTTH network in Jersey. More detail
    

@eurocomms