Cisco is making a significant investment of USD17 million in Idinvest Digital Fund II, which is dedicated to financing innovative young companies in the digital and new technologies sector including web services, the internet of things and fintech.
Cisco is now one of the main trade investors in IDF II alongside a pool of renowned European institutionals, bringing the size of this Idinvest Partners-managed fund for European business growth to EUR155 million.
“This partnership follows in the footsteps of our previous collaborations with Lagardère and Groupe Up, and will give an additional boost to Idinvest Partners’ reputation in tech and digital investments,” says Matthieu Baret, Partner at Idinvest Partners. “It is expected to generate deal flows and strategic partnerships between startups and Cisco, adding momentum to the interactions of big corporations with smaller newcomers.”
By joining forces with Idinvest Partners – a leader in European growth finance known for its extensive tech and digital investment background and such success stories as Criteo, Talend, Scality and Actility – Cisco can provide more support for promising startups in and around its own field of expertise and get an excellent look at some great direct co‑investment opportunities.
"Cisco’s ambition is to accelerate the digitisation of the economy by stimulating the ecosystem of innovative start-ups. This will create new usage and economic models that will define the internet of everything of tomorrow. We are pleased to partner with Idinvest, an undisputed leading venture capital firm which will give us an excellent view of the best opportunities for direct investment in France. Its partners have an excellent reputation among French entrepreneurs, as well as very good international networks,” adds Frédéric Rombaut, Head of Corporate Development EMEAR at Cisco.
