France Tel teams on €300m tech fund

France Telecom today became the second European telco to detail plans for a digital venture capital fund in the space of a week, revealing partnerships that establish a pot of at least €300 million for tech firms
The telco is teaming with Publicis Groupe and Iris Capital Management to create the fund, which will immediately provide up to €15 million per project to established French and European firms, and non-European start ups. The trio plans to also bring online a seed capital fund for early-stage companies in France and Europe, which will make up to €3 million available per project.
Stéphane Richard, chairman and chief executive of France Telecom, hailed the project – named OP Ventures - as “a pioneer in its field,” and claimed it will “encourage the emergence of future leaders of the digital economy.”
France Telecom and Publicis Groupe will each own a 24.5% stake in the venture capital firm, with the remaining 51% held by Iris Capital Management.

The news comes less than a week after rival Telefonica revealed plans to provide research funding to 30,000 young people in its European markets. The scheme will provide up to £300 (€358) per person and includes training and mentoring by Telefonica staff. The operator will also award up to £2,500 in second round funding to the projects it judges to be the best.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.