Orange’s venture capital division has launched a new € 30 million investment fund to put cash into start-ups in the areas of the environment and inclusion, in line with the plan of the group until 2025.
The Orange Ventures Impact division said it would allocate 30 million euros of its total fund of 350 million euros to the vehicle, targeting French and European companies in the seed or start-up phase, or those with the potential to clear development.
Orange said target companies must contribute to new responsible business models with a positive impact on the environment or inclusion, areas that are currently not covered by its venture capital unit.
Each start-up would be subject to an analysis on specific impact indicators, in addition to a routine financial analysis. Orange added that it would initially invest between 750,000 and 3 million euros in each round of financing.
Companies will also have access to Orange’s international ecosystems and the wide range of partnerships.
Orange added that the latest vehicle is aligned with its broader Engage 2025 strategic plan, paying particular attention to monitoring the overall impact of the Ventures Impact portfolio.
To gauge its success, Orange said it would look at the number of people the program has helped, the number of jobs created and the environmental impact.
Orange Ventures chairman and managing partner, Jerome Berger, said he created the fund because he is “convinced that there is no economic performance without social and environmental exemplarity”.
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