Publicis & Orange launch venture capital fund for start-ups

MUMBAI: Orange chairman and CEO Stephane Richard and Publicis Groupe chairman and CEO Maurice Levy along with Gerhard Cromme, have signed a letter of intent with a view to creating a European multi-corporate venture capital fund - IrisNext - on a global scale for start-ups.


The letter was signed on the occasion of Franco-German conference on digital at the Elysee Palace.


The goal of IrisNext is to become one of Europe’s leading venture capital funds through funding from major international groups of French, German and international origins, as well as from institutional investors.


IrisNext will mainly invest in European start-ups to help fund their growth, not just in the early stages but all throughout the phases of growth. The fund will focus its investments in entities involved in all aspects of corporate digital transformation. Among the start-ups concerned, IrisNext will be funding pure players, but also new business models built around digital technology, as well as new tools and technologies taking on the challenge of this transformation (e.g. big data, cloud, artificial intelligence, digital innovations, robots, etc.).


The fund will be managed by Iris Capital, assisted by German VC fund Capnamic, with an initial closing scheduled in 2016.


To ensure the success of this venture, Publicis Groupe and Orange have committed to provide additional funding of €75 million each. With the support of Cromme, who has joined this project in a personal capacity and will sit on the Supervisory Board of Iris Capital, they will use their networks and influence to convince other German, French and European groups to invest in IrisNext, in order to endow the fund with the required dimension while optimizing opportunities for European start-ups. Institutional investors will also be invited to invest. Furthermore, public bodies in the field of corporate financing in France and Germany will also be solicited for additional funding to ensure the fund reaches the critical mass it needs.


In view of the very active presence of the large Anglo-Saxon and Asian venture capital funds, the parties involved in this agreement consider it indispensable to leverage the Franco-German axis in order to bolster the European venture capital sufficiently for it to support start-ups, particularly in the later stages of growth, and in doing so, to help anchor them in Europe.


The IrisNext project is a follow-up to the Orange Publicis Ventures funds, which were launched in 2012 and contributed some €300 million to the funding of the French and European digital ecosystem. These funds, which are also managed by Iris Capital, have helped promote the emergence of an innovative, multi-corporate investment model that is mutually beneficial to both parties: the start-ups receiving funding and the groups who learn from these innovations. Close to 60 start-ups have received funding from Orange Publicis Ventures, including firms such as Netatmo in the IoT (Internet of Things), Talend (software), Scality (high capacity storage), Adjust (mobile analytics) and Mister Auto (e-commerce).

Latest Reads
Exquisite partners with Warner Bros. consumer products

Exquisite, an innovative and experienced player in the EMEA market, has teamed up with Warner Bros. Consumer Products EMEA (WBCP EMEA), on behalf of DC Entertainment, to create the first retail loyalty programmes featuring DC Super Heroes.

MAM Marketing Brands
Cadbury Bournvita Biscuits introduces new tiffin pack

Mondelez India Foods is set to launch a new tiffin pack of its highly successful Cadbury Bournvita Biscuits with an aim to encourage consumers to make it a habit in the morning to have the biscuit.

MAM Marketing Brands
FCB Ulka wins advertising duties for AVT Premium

MUMBAI: A.V. Thomas & Company has appointed FCB Ulka Bangalore to handle the advertising duties for their flagship brand, AVT Premium. The win adds to FCB Ulka Bangalore’s portfolio which includes marquee clients like ITC Biscuits & Confectionery and Wipro Consumer Care & Lighting. AVT...

MAM Media and Advertising Account
Wringley's Doublemint tells a 'fresh' new love story

MUMBAI: Released on Youtube on 21 October, the new TVC of Wringley's Doublemint conceptualised by BBDO Indua and directed by Shoojit Sircar has already garnered over two lac views.

MAM Media and Advertising Ad Campaigns
Flipkart announces integrated brand communication campaign

There are a host of dates earmarked in India’s annual calendar where consumers wait with bated breath to partake of the celebrations. Clearly figuring in this list is the ‘The Big Billion Days’ (BBD), that has been made popular by Flipkart over the past two years. As a concept, Big Billion Day was...

MAM Media and Advertising Ad Campaigns
Colors campaign inspires men to take over Sunday chores

Colors has launched a new movement called #SundayIsHerHoliday. The campaign -- one Sunday at a time -- is inviting every man (and woman) to participate. The goal of the campaign is to inspire and help men take over the Sunday chores of women, so she can get her much needed time off.

MAM Media and Advertising Ad Campaigns
betterU launches Diwali campaign #FestivalOfLearning

India’s online learning marketplace, betterU, has launched a unique Diwali campaign #FestivalOfLearning across its digital platforms.The campaign aims at helping people think differently about their purchases, and highlights the importance of investing for the long term on the auspicious occasion...

MAM Media and Advertising Ad Campaigns
BBH India creates live radio spots for Abbott

BBH Mumbai has released a case study on the first ever live radio spots for Abbott's The Race of Possible’ campaign, which received overwhelming response in India.

MAM Media and Advertising Ad Campaigns
Abhibus's 'Har Safar Mein Aapka Hamsafar' Mahesh Babu, India’s online bus ticket booking platform, has announced superstar Mahesh Babu as their brand ambassador. He will also feature in the company`s marketing campaign called 'Har Safar Mein Aapka Hamsafar' (With you on all your journeys, wherever you go).

MAM Media and Advertising Ad Campaigns

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories