PARIS, June 19 : France has mobilised €13 billion ($14.89 billion) in additional institutional investor funding under the third phase of its Tibi initiative to finance French and European technology companies, the finance ministry said on Friday.
The new phase aims to bring the envelope to €15 billion by the end of 2030, taking total funding mobilised under the initiative since 2020 to nearly €31 billion, the ministry said in a statement released during the VivaTech conference in Paris.
• The ministry said 50 per cent of investments under the new phase would be directed towards deeptech companies.
• New participants include mutual insurer Carac, rail operator SNCF, Paris transport group RATP, defence groups Naval Group and MBDA, and satellite operator Eutelsat.
• The government said the move was intended to support French IPOs and help small and mid-sized firms scale up while remaining anchored in France and Europe.
• The new phase also has a stronger European focus, to support pan-European funds able to finance technology companies through larger funding rounds.
($1 = 0.8728 euros)
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Channel NewsAsia (CNA)Party-alignedCenter2 days agoFrance has announced an additional €13 billion in funding under the third phase of its Tibi initiative, aiming to reach €15 billion by 2030. This brings the total funding mobilized since 2020 to nearly €31 billion. The initiative focuses on supporting deep-tech companies and includes new participants such as Carac, SNCF, RATP, Naval Group, MBDA, and Eutelsat. The goal is to support French IPOs and help SMEs grow within France and Europe, with a stronger emphasis on pan-European funding.
Bias read (Center): The article presents factual information about France's financial commitment to its Tibi initiative without apparent ideological framing. It reports on economic policy decisions in a neutral tone, focusing on figures, objectives, and participating entities without suggesting approval or criticism.
Official sources cited
- government French Finance Ministry Statement
SG