Innovacom seed fund Technocom 2 closes on €30m

The fund will be managed by Innovacom, the venture arm of telecoms operator Orange.

Investors
The fund's investor base is comprised of the French government through the FNA – managed by CDC Enterprises – and various corporates. The latter include Alcatel-Lucent, Orange, Groupe SEB and Soitec. FNA committed €18.7m to the fund.

Investments
The fund will target French tech start-ups, particularly in the field of digital technology, IT and telecoms. The investments will vary in value, but it is expected that around 15 investments will be made from the fund.

Technocom 2 has five priority subsectors: materials and components, embedded software systems, machine-to-machine and machine-to-user communication, data management and high-speed broadband connectivity.

People
Each investor group will be represented in the fund's strategic committee. Additionally, the research department of the Sorbonne Paris Cité will also have a place in the committee.

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