Capgemini expands with technology venture capital fund

FILE PHOTO: The logo of Capgemini is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau

LONDON (Reuters) – Global business consultancy Capgemini is launching its first-ever investment fund, with plans to invest up to 90 million euros ($102 million) in early-stage technology companies.

Capgemini, which advises global companies on their organizational and technology needs, said its consultancy business would help accelerate the growth of the firms backed by the fund, which would be managed by asset manager ISAI Gestion.

“In the digital age, our clients are increasingly embracing open innovation and actively engaging with start-ups,” Capgemini Chief Operating Officer Thierry Delaporte said.

The fund, called ISAI Cap Venture, will target companies looking to raise money in Series A, B and C funding rounds, and will also have the option of holding investments until they list, Capgemini said in a statement on Tuesday.

It will have a particular focus on Europe and invest between 1 million euros and 5 million euros in 15-20 companies. The life of the fund will be up to 10 years.

The investments are expected to be mostly identified through Capgemini’s employee and business network, focusing on firms which have an “innovative solution”, are in “sustainable IT” or which could be future software market leaders.

ISAI, well known in France as a leading tech investment fund, would work with the consultancy’s newly created Capgemini Ventures unit.

Capgemini Ventures Executive Director Lucia Sinapi-Thomas said partnering with ISAI would allow Capgemini to be “immediately professional in something that is not our core business”.

But with Capgemini already working with a number of start-ups across the world and connecting them to clients, having an investment arm would allow it to have “skin in the game”.

Reporting by Simon Jessop; Editing by Keith Weir

Source link

more recommended stories

  • Chainalysis, LINE unit BITBOX in anti-money laundering partnership

    NEW YORK (Reuters) – Chainalysis, a.

  • Delta Air not expecting flight cancellations as result of tech issue

    FILE PHOTO – Passengers check in.

  • Apple explores moving 15-30% of production capacity from China: Nikkei

    (Reuters) – Apple Inc has asked.

  • French photo startup Meero joins unicorn club after $230 mln fundraising

    PARIS (Reuters) – French startup Meero,.

  • Facebook reveals Libra cryptocurrency, sparking new privacy concerns

    SAN FRANCISCO/NEW YORK (Reuters) – Facebook.

  • Facebook reveals Libra cryptocurrency, with lofty goals

    SAN FRANCISCO/NEW YORK (Reuters) – Facebook.

  • Huawei says U.S. ban hurting more than expected, to wipe $30 billion off revenue

    HONG KONG (Reuters) – China’s Huawei.

  • France warns new European drone must be competitive on price

    French President Emmanuel Macron, listens to.

  • Google appoints Stanley Chen to head Greater China sales, operations

    FILE PHOTO: The brand logo of.

  • Intel launches project to help Israeli tech start-ups

    Intel CEO Robert Swan speaks during.

  • Exclusive: Mexico blamed Walmart’s size, access to rivals’ data in blocking app deal

    MEXICO CITY (Reuters) – Mexican officials.

  • Bumble owner to spend $100 million on dating apps

    (Reuters) – The owner of dating.

  • Broadcom’s $2 billion warning rattles global chip sector

    LONDON/BENGALURU (Reuters) – Broadcom Inc sent.

  • Explainer: Why is Huawei seeking $1 billion patent deal with Verizon?

    WASHINGTON (Reuters) – Huawei is demanding.

  • Factbox: Global tech companies shun Huawei after U.S. ban

    (Reuters) – Global technology companies are.

  • Broadcom warning hits European chipmakers

    FILE PHOTO: Broadcom Limited company logo.

  • Unhappy at Twitter, thousands of Saudis crash pro-Trump social network

    SAN FRANCISCO (Reuters) – A surge.

  • Messaging service Telegram CEO points to China as likely origin of cyber attack

    (Reuters) – The chief executive of.

  • Walmart overhauls Jet.com as online business fails to deliver results

    WASHINGTON (Reuters) – Walmart Inc on.

  • Facebook expands Watch service as user numbers grow

    FILE PHOTO: Stickers bearing the Facebook.

  • LG Electronics, regulators oppose Qualcomm’s effort to put antitrust ruling on hold

    (Reuters) – Smartphone maker LG Electronics.

  • Exclusive: Top Japanese chip gear firm to honor U.S. blacklist of Chinese firms – executive

    TOKYO (Reuters) – Japan’s Tokyo Electron,.

  • More U.S. millennials subscribe to video games than traditional pay TV: survey

    NEW YORK (Reuters) – More American.

  • Exclusive: Some big tech firms cut employees’ access to Huawei, muddying 5G rollout

    NEWPORT BEACH, Calif./NEW YORK (Reuters) –.

  • White House seeks delay on Huawei ban for contractors

    WASHINGTON (Reuters) – The White House.

  • China calls in foreign tech firms after Huawei sales ban: sources

    BEIJING (Reuters) – China summoned global.

  • IMF’s Lagarde highlights potential disruptive nature of fintech

    Christine Lagarde, managing director of the.

  • Apex Legends Season 2 to debut on July 2

    FILE PHOTO: The Electronic Arts Inc.,.

  • G20 agrees to push ahead with digital tax: communique

    FUKUOKA, Japan (Reuters) – Group of.

  • FedEx to end Amazon contract for FedEx Express plane service

    (Reuters) – FedEx Corp said on.

  • IBM, T-Systems scrap mainframe venture after German criticism

    A man stands near an IBM.

  • Exclusive: Foxconn plans management overhaul as Chairman Gou seeks Taiwan presidency – source

    TAIPEI (Reuters) – Apple supplier Foxconn.