Deals will come from three main areas, or circles: first, the industrial LPs; second, universities, such as the Sorbonne and ParisTech; and, third, seven incubators around the country, including ones in Rens, Grenoble and Montpelier.

France-based corporate venturing unit Innovacom has spun off from its parent after raising a seed fund to invest in commercialising academic and other research. Innovacom, which invests in Europe and the US, had been part of phone operator France Telecom for more than 21 years and the move to independence was designed to reassure its…

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