Our new Cryptocurrency section has arrived! Click here

Less Ads, More Data, More Tools Register for FREE

UPDATE 1-French financial institutions swing behind Macron's startup call

Wed, 18th Sep 2019 07:27

PARIS, Sept 18 (Reuters) - State-backed lender Caisse des Depots (CDC) said on Wednesday it was teaming up with Euronext, a pan-European stock exchange, to raise the profile of French startups and attract new liquidity.

The announcement comes a day after President Emmanuel Macron's pledged to raise 5 billion euros in funds from private-sector investors to give French startup companies a leg up and help the most promising ones grow further.

In a joint statement, CDC announced a 100 million euros ($110.64 million) investment programme dedicated to small caps while Euronext said it was creating a new index, the Euronext Tech Croissance, for small tech firms.

"In rolling out this investment programme, we aim to step up our presence in the listed small-cap Tech segment and help keep the market active," said Olivier Mareuse, CDC's Chief Investment Officer.

France is jostling with other European countries to lure investors and budding tech companies and chip away at London's lead as a startup hub, as Britain edges closer to leaving the European Union on Oct. 31, potentially without a deal.

The Euronext Tech Croissance index will be composed of 150 tech firms with a market capitalization of between 25 million and 1 billion euros.

The CDC said it had already invested 2.5 billion euros in small- and mid-cap companies.

Separately, state-owned bank Bpifrance said it would invest 1 billion euros over three years in technology companies. ($1 = 0.9038 euros) (Writing by Matthieu Protard; editing by Richard Lough and Darren Schuettler)

More News

UK PM Johnson says all Conservative election candidates pledge to back his Brexit deal

Nov 16 (Reuters) - British Prime Minister Boris Johnson has said that all Conservative Party candidates in the upcoming election have pledged to back his Brexit deal."All 635 Conservative candidates standing at this election – every single one of ...

16 Nov 19 22:01

UPDATE 1-UK PM Johnson's Conservatives have highest support since 2017 - polls

(adds details of other polls)LONDON, Nov 16 (Reuters) - British Prime Minister Boris Johnson's Conservative Party have the highest level of support since 2017, according to opinion polls published on Saturday.The Dec. 12 election was called to end ...

16 Nov 19 21:28

UK's Johnson extends lead over Labour before election - poll

LONDON, Nov 16 (Reuters) - British Prime Minister Boris Johnson's Conservative Party has a 15-point lead over the opposition Labour Party, according to an opinion poll published by the Mail on Sunday ahead of next month's election.Support for the ...

16 Nov 19 20:50

UK's Corbyn: Labour to exclude NHS, medicines from trade deals with U.S.

Nov 16 (Reuters) - UK opposition leader Jeremy Corbyn said the Labour Party will exclude Britain's National Health Service and medicines from trade deals with the United States, as he accused Prime Minister Boris Johnson of covering up "secret ta...

16 Nov 19 20:50

Login to your account

Don't have an account? Click here to register.