NewAlpha Asset Management, part of La Française group, plans to harness France’s fintech potential with venture capital investments in the sector.
The manager has launched its first venture capital fund dedicated to fintech and says the sector was the fifth largest destination of venture capital in France in the first half of the year.
France has “significant intellectual and technological capital” but currently lacks early stage financing solutions suited to FinTech projects, says the firm.
The fund, which aims to attract institutional investors, will primarily invest in French non-listed FinTech firms, with a target size of €60 million.
The fund is supported by Crédit Mutuel Nord-Europe.
NewAlpha was launched in 2005 and has since entered into over 60 strategic partnerships and invested over €1 billion in French and foreign asset management companies.
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