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'French telecom entrepreneurs form web start-up fund ISAI'Apr 19, 2010 (DMEUROPE via COMTEX) -- A group of over 60 French internet and telecommunications entrepreneurs and 45 internet companies have formed ISAI, a new investment fund with EUR 24 million to invest in start-up internet companies. The investors include PriceMinister's Pierre Koscuisko-Morizet, Phone House France's Geoffroy Roux de Bezieux, institutional partners such as national strategic investment fund FSI and Credit Mutuel Arkea, and former industry executives such as AOL's Stephane Treppoz and Techcrunch's Ouriel Ohayon. ISAI aims to invest in 12 businesses with strong growth potential over the next 12 years. It will put EUR 500,000 to EUR 1.5 million into internet companies less than five years old that have gone through the proof-of-concept phase. ISAI's first president, former 3i executive Jean-David Chamboredon, said he expected to announce the first investment in the middle of May. This new source of venture capital for innovative French start-ups joins two others at a time when the government is encouraging local talent to come up with concepts that may one day rival the world's internet giants. As previously reported, Meetic founder Marc Simoncini has launched investment company Jaina Capital and Free's founder Xavier Niel has formed Kima Ventures. Skype's Niklas Zennstrom recently told the French press that he was watching the country for interesting start-ups for opportunities for his Atomico investment business. Distributed for DMeurope.com via M2 Communications (www.m2.com) [ Back To TMCnet.com's Homepage ] |