Digital Venture, an investment fund focused on the first fundraising of French startups, blew out its 10th candle yesterday. The opportunity for Bpifrance to congratulate itself on the participations made.
Launched in 2011, with 300 million euros, this fund marked for Bpifrance a strong position for the time vis-à-vis the startup ecosystem. While many investors were somehow recovering from the 2008 crisis, the Public Investment Bank chose to support the venture capital market. ” The Digital Venture fund is now one of the key mechanisms of the powerful platform for accelerating technology startups set up by Bpifrance.,” notes Nicolas Dufourcq, CEO of Bpifrance.
Why are food delivery company stocks plummeting?
2015 will mark a step in the diversification of the activity with the creation of a fund intended for seeding. It will be endowed with 50 million euros. Three years later, in 2018, the second generation of Digital Venture was launched, this time with 370 million euros. In total, the entire activity represents 720 million euros in assets under management divided into four funds. The 365 million euros invested over the past 10 years, in 113 start-ups, would have enabled the creation of 9,100 jobs. All of the companies in which the fund has invested would be valued at 5 billion euros.
” At the start of our activity, we acted as a catalyst with private investors with the aim of reviving the market. Our mission was also to bring out startups capable of being leaders in their market. We believe we have achieved these goals,” rejoiced Véronique Jacq, director of Digital Venture.
Indeed, Bpifrance has carried out several exits from the capital of the start-ups it has supported. In total, of the 113 young shoots, it left 21. These operations enabled it to pocket 1.9 billion euros. ” Performance is good,” judge Véronique Jacq.
Artificial intelligence, quantum with Alice & Bob, Internet of Things with Netatmo, robotics, software infrastructure, Digital Venture has closed the door to no sector. It has even been committed since last year to developing its investments in deeptechs, startups that innovate on disruptive technologies. These companies represent 30% of financing.