Innovacom has raised its latest fund, Innovacom 6, with EUR150m (USD200m), 20 per cent more than the previous fund.
Innovacom has raised its latest fund, Innovacom 6, with EUR150m (USD200m), 20 per cent more than the previous fund.
Innovacom 6 will be investing in new companies in telecoms and digital media, the areas that fuelled the success of the previous Innovacom funds (Innovacom 1, 2, 3, 4, 5, and Technocom).
The fund will be focused on France, but will also invest in Northern Europe and North America, via its Stockholm and San Francisco offices, respectively.
Priority sectors for the new fund will be digital content, digital media technologies and services, network technologies, enterprise software, components, and hardware related to communications.
The strong support of existing investors in earlier Innovacom funds meant that the capital for the fund could be raised in less than six months.
The increase in the fund size was helped by the support of the France Investissement initiative, managed by CDC Entreprises through its own entities, and through funds of funds initiated with French insurance companies and banks.
With Innovacom 6, Innovacom also continues to benefit from the support of international limited partners like HarbourVest Partners (USA) and the European Investment Fund (Luxemburg). The first investments will be made before year end.
