Artemis holds first close on €100m for Red River West

Artemis set Red River West's target at €250m. 

The vehicle's investment strategy will be focused on both the US and France. It will be managed by France-based group Artemis and by a four-strong team of investment managers and entrepreneurs based in the US. The team will be led by Alfred Vericel, co-founder of New York-based online media content group Purch.

Groupe Artemis is a French holding company owned by François-Henri Pinault – it owns auction house Christie's, winery Château Latour, the Fnac Darty retail group, and weekly French news magazine Le Point, among other assets. It is also the controlling shareholder of luxury goods conglomerate Kering, which includes the Gucci, Saint Laurent, Stella McCartney, Bottega Veneta and Balenciaga brands.

Investors
Several family offices and entrepreneurs, both US- and France-based, contributed to the first closing. These include executives from telecoms company Bouygues, Dan Vogel and Marc Vogel from the Enablon group, Snap CEO Michael Lynton, and Guy Laliberté from the Cirque du Soleil and Lune Rouge groups.

Investments
Red River West will look to take stakes in around 10 French tech startups, aiming to boost their international expansion into the US market. The startups' products and services will need to have shown success with European users, the GP said in a statement.

Tickets will typically range between €5-50m, spread over one or several financing rounds.

People
Artemis – Patricia Barbizet (CEO).
Red River West – Alfred Vericel (co-founder).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Venture
• France
• Technology
• France