Paris-Saclay gains $53m fund

The fund will back early-stage spinouts of the Paris-Saclay University ecosystem, which comprises a total of 17 Grandes Écoles, universities and laboratories.

Paris-Saclay University this week achieved the first close of its €50m ($53m) seed fund thanks to contributions from investors including France’s public investment bank Bpifrance.

Other backers include luxury consumer goods company Chanel, networking equipment manufacturer Cisco, business-to-business digital services provider Econocom, utility EDF, insurance group Groupama, outdoor advertising company JCDecaux, telecoms firm Orange and public transport operator RATP.

Financial services firms BNP Paribas and Société Générale as well as several dozen angel investors – made up alumni from participating universities, entrepreneurs and heads of corporations listed in France – also committed capital.

The 17 Grandes Écoles, universities and research centres that make up the Paris-Saclay University ecosystem also supplied cash, either directly or through their respective foundations.

Paris-Saclay University was established by the French government as a federal research institution with the aim of generating a research-intensive technology cluster in Paris that would rank in the global top 10. Its first academic year began in September 2015.

The fund will invest between €100,000 to €2m in seed and series A-stage spinouts and startups emerging out of the Paris-Saclay ecosystem.

A total of 70% of the fund’s capital is managed by Partech Ventures to invest in IT, internet and digital companies. The remaining 30% is overseen by Kurma Partners and will go towards life sciences and medical technology businesses.

– This article first appeared on our sister site Global University Venturing.

See more from this Government Report: France


Copyright Mawsonia Limited 2010. Please don't cut articles from or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. News round up 23 April 2018

    April 23, 2018

  2. EU plans massive overhaul of funding services

    April 25, 2018

  3. DocuSign seals $629m IPO

    April 27, 2018

  4. Investors fork over $30m to Formlabs

    April 27, 2018

  5. Mubadala backs New York’s Phoenician Capital

    April 27, 2018