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French sovereign fund to invest EUR 7.5 mln in Dailymotion Thursday 22 October 2009 | 10:53 AM CET
 
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French sovereign fund Fonds Strategique d'Investissement (FSI) has announced that it will invest EUR 7.5 million in video sharing website Dailymotion, as part of a EUR 17 million capital increase. The share issue is also backed by existing investors Advent Venture Partners, AGF Private Equity, Atlas Venture and Partech International. Although it did not reveal the size of the stake, FSI said that it will have a seat on Dailymotion's board. The company's CEO, Cedric Tournay, said earlier this month that Dailymotion had raised EUR 15 million from existing backers and a new investor. The funds will be used to finance growth and strengthen the balance sheet.
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