New corporate venture fund launched in France

Ecomobilité Ventures will take minority interests in European companies - both in the start-up and development stages - with a view to support them in the long term.

It will target businesses developing sustainable mobility products, services and technologies as well as mobility-related clean technologies. Potential portfolio companies will have to be profitable on a stand-alone basis.

This follows a similar effort by French groups Publicis and France Télécom, which recently launched a €300m VC fund. These initiatives could alleviate fears of corporates backing off venture in a tough market environment, as ECI Partners director James Stewart wrote in unquote" earlier this week.

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• France