Public sector support for French start-ups

The French government, working with private sector institutions, has unveiled a new venture capital fund to benefit start-up companies.

A combined public and private sector venture capital fund totalling between 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.

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

Sponsorship from the fund is available as of 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.