Orange’s venture capital division launched a new investment fund worth €30 million to put cash into start-ups in the fields of the environment and inclusion, in line with the group’s strategic plan up to 2025.
The Orange Ventures Impact division stated it would allocate €30 million of its total €350 million fund to the vehicle, targeting French and European companies at seed or start-up stages, or those with clear potential for development.
Orange said target businesses must contribute to new responsible economic models with a positive impact on the environment or inclusion, fields not currently covered by its VC unit.
Each start-up would be subject to analysis on specific impact indicators, in addition to routine financial analysis. Orange added it would initially invest between €750,000 and €3 million in each round of financing.
Businesses will also gain access to Orange’s international ecosystems and wide range of partnerships.
Orange added the latest vehicle was aligned with its wider Engage 2025 strategic plan, with attention given to monitoring the overall impact of the Ventures Impact portfolio.
To gauge its success, Orange said it would look at how many people the scheme had helped, the number of jobs created and environmental impact.
Orange Ventures chair and managing partner Jerome Berger, said it established the fund as it is “convinced that there is no economic performance without social and environmental exemplarity”.Subscribe to our daily newsletter Back