France Telecom chooses outside group to manage its commitment after Iris won STC mandate last year.
France-based venture capital firm Iris Capital Management has won its second corporate venturing mandate to manage a fund on behalf local advertiser Publicis Groupe and phone operator France Télécom-Orange.
Orange and Publicis Groupe have in aggregate committed €150m ($200m) to three funds under the OP Ventures (OPV) brand. OPV Growth will aim to invest €15m in established companies in France and the rest of Europe; OPV Global will invest in start-ups outside Europe, also with funds of up to €15m per project;…
