The Tech world has been looking gray in recent weeks. Also, the announcement of the Swedish fund EQT Ventures clearly did not go unnoticed on Wednesday. He has just completed the creation of EQT Ventures III, an investment vehicle endowed with 1.1 billion euros. The objective is clearly stated: to finance start-ups to help them grow.
Three French nuggets already financed
EQT Ventures is therefore planning tickets ranging from 1 to 50 million euros to support these nuggets, and it is mainly targeting impact startups. By this term, we must understand companies that use technology to meet the great challenges of our time, and in particular climate change, and its corollaries, food and energy. She is also eyeing data and IT infrastructure, deep tech, according to the Digital Factory.
And precisely, EQT Ventures strongly believes in French technology companies to respond to these issues. Thus, in addition to its offices in Amsterdam, London, San Francisco, Berlin and Stockholm, it is also based in Paris.
The fund has already trusted three French startups, including Luko insurance, the manufacturer of batteries for electric vehicles Vercors, and a third company which is not yet known.
Quoted by Le Figaro, Alastair Mitchell, partner at EQT Ventures, explains: “ Now is the time to support entrepreneurs who innovate to improve the world by providing solutions. EQT Ventures was created to give entrepreneurs the best chance to succeed, regardless of the macroeconomic climate “.
France, an ideal playground for impact startups
To identify the most promising companies, EQT Ventures uses in particular an AI called Mother Brain, report our colleagues. The latter identifies weak and strong signals to find future Tech champions. But the managers of the Swedish fund point out that a human eye remains essential in this search for the rare pearl.
Rania Belkalhia, who heads the Paris office of EQT Ventures, remains optimistic for the future despite the current difficulties in the world of Tech: “ French start-ups are helped by the ecosystem, a virtuous circle has been set up, with support structures. And recruiting talent in tech is still cheaper than in the United States “.
According to a mapping recently carried out by France Digitale and Bpifrance, impact startups represent 5% of French startups, i.e. 1,074 companies out of the 20,000 listed in French Tech. Far from being anecdotal, these virtuous companies now hire 30,000 people on a full-time equivalent basis.