Innovacom holds first close on €40m for Technocom3

The VC targets a €60m final close by the end of the year. French private equity firm Turenne Capital, which acquired a 20% stake in Innovacom in Q4 2017, finalised the acquisition of the VC in Q1 2019. Together, the firms have €1bn in assets under management.

The fund life for Technocom3 is 10 years.

Investors
Financial institutional backer BPI France and corporate backers, including Cemag Invest, Seb Alliance, SITA and Soitec, have made commitments to the business.

BPI France has used its National Seed Fund 2 to back the vehicle.

Investments
Over the next five years, the Technocom3 seed fund will select around 20 companies, based in France and elsewhere in Europe, developing projects related to the materials, components, hardware, software, or digital services sectors.

People
Innovacom – Jérôme Faul (managing partner).

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