France Takes Trip to U.S. to Drum Up Money for Venture Capital
- There’s 10 billion euros available for startups in France: CEO
- Bpifrance CEO speaks in interview about luring more funds
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France wants to convince U.S. private-equity firms to set up growth funds in Europe, as money at home isn’t enough to feed expanding startups that are seeking bigger tickets.
In a pitch to U.S. investors, French state-backed financier Bpifrance has pledged to contribute as much as 100 million euros ($111 million) in new growth funds that set up in Paris, Chief Executive Officer Nicolas Dufourcq said in an interview. Dufourcq went on a roadshow across the U.S. in November and hosted PEs in the French capital the following month. He plans to do the same again this year, with the aim of landing commitments.