Orange said that its venture capital arm will launch a EUR 30 million investment vehicle to fund start-ups operating in the fields of the environment, inclusion, and CareTech. Named Orange Ventures Impact, this new vehicle will initially earmark in the region of EUR 0.8-3.0 million for each round of financing. The launch aims to support the objectives set out by Orange in the ‘Engage 2025’ strategic plan, as well as the commitments made in relation to the ‘Sustainable Development Goals’, a United Nations’ initiative in which the group intends to measure its contribution.
The EUR 30 million budget is part of the increased EUR 350 million allocation announced for Orange Ventures in January, when the venture capital arm was relaunched as a independent entity, on a separate legal basis.
Orange Ventures Impact will target French and European start-ups in their seed stage or with proven development potential. Each funding project will be reviewed by taking into account specific indicators to measure its impact, such as the number of people helped, the amount of carbon emissions avoided, or the volume of jobs created in the sustainable economy.
