France launches new fund for local start-ups

The fund will comprise money from the French State, European investment funds and the Caisse de dépôts et consignation, a French finance group.

A combined public and private fund totalling E60-90m has been launched in France to invest in local start-up companies.

The capital for the fund will come from the French State, European investment funds and the Caisse de dépôts et consignation, a French finance group, said Laurent Fabius, the French Minister of finance.

He added that the difference between this new fund and previous allocations is that the money raised will be invested directly into the companies rather than in regional private equity funds.

Sponsorship from the fund is available today, said a spokesperson for the French Government, who added that she expected the full amount will be raised within the first half of the year.