Idinvest secures $17m commitment from Cisco

The partnership will allow Cisco to generate business opportunities and develop partnerships with portfolio companies of Idinvest Digital Fund II. The US trade player is now one of the main LPs in the fund.

Idinvest Partners held a final close for its Digital Fund II on €140m in May. The vehicle was launched with a €100m target and reached a first close on €60m in October 2013.

The fund attracted commitments from more than 30 predominantly French institutional investors, with a minority coming from European countries, including Spain. The LP base includes BPI France, which has committed more than €22m to the fund since its launch, and industrial groups Lagardère and Up – the former having contributed €11m by October 2013.

Also backing the vehicle are a number of family offices, banks and insurance companies, including Allianz France, which was Idinvest's parent group until 2010 and cornerstone investor for the fund alongside BPI France and Lagardère.

Idinvest Digital Fund II targets growth capital investments in startups in the digital, internet, telecommunications and e-commerce sectors, both in France and elsewhere in Europe. The GP stated the fund will provide equity tickets of €3-5m for series-A rounds and €6-7m in series-B rounds.

 

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• Topics
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• IDInvest Partners (AGF Private Equity)