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Orange Invests in the ‘Move Capital I’ Venture Capital Fund to Support European B2B Technology Companies
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Orange has announced an investment in the ‘Move Capital I’ fund, a Kepler Cheuvreux Invest initiative aimed at bolstering European tech companies in sectors like IoT, AI, and cybersecurity. This move is aligned with Orange Business Services' strategy to enhance its innovation capabilities and support the development of B2B tech firms within Europe. The partnership with Move Capital is expected to strengthen Orange's position in the digital economy and foster synergies, thereby ensuring technological sovereignty in Europe.
Positive
Investment in Move Capital I fund strengthens innovation strategy.
Enhances support for B2B tech companies in Europe.
Partnership may lead to new synergies and market opportunities.
Negative
None.
PARIS--(BUSINESS WIRE)--
Orange, via its holding company Orange Digital Investment, is investing in the ‘Move Capital I’ fund, a Kepler Cheuvreux Invest “Tech Growth” fund that supports future B2B champions of European tech. Move Capital is active in the fields of digital technology: IoT, Artificial Intelligence, Data Analytics, Cybersecurity, Cloud and Industry 4.0.
This investment is a boost for Orange Business Services, the global enterprise entity of the Orange Group.
By partnering with the Move Capital I fund, Orange Business Services is confirming its desire to become a stakeholder with a recognized panel of promising European technology companies in order to enhance its innovation strategy. (Photo credit: Orange Business Services)
Orange Business Services and Move Capital share a common vision: to assist, support and finance French and European tech companies in the digital B2B sector to facilitate their development and emergence and ensure European technological sovereignty.
The B2B technology ecosystem is in the midst of change with a series of happenings such as the deployment of 5G, the data boom, the rise in connected objects, the migration of services and solutions to the cloud and overall, the need to protect these ecosystems with cybersecurity solutions.
For Orange Business Services, these rapid changes emphasize the importance of being supported by trusted partners. The digital economy is restructuring around an ecosystem of partners whose aim is to combine the best technologies in the market to cover the needs of innovative companies across the entire value chain.
By partnering with the Move Capital I fund, Orange Business Services is confirming its desire to become a stakeholder with a recognized panel of promising European technology companies in order to enhance its innovation strategy.
“We’re convinced that this investment in the Move Capital I fund is key to anticipating our customers’ needs, strengthening our services innovation and expertise in a dynamic B2B market landscape. As a network-native digital services company, we take advantage of a rich and innovative ecosystem to support our clients in their digital transformation and create a positive impact on their activities. A digital European approach to B2B is much appreciated by our global clients given the increasing fragmentation of digital ecosystems”, said Laurent Godicheau, Chief Strategy Officer of Orange Business Services.
“This investment in the Move Capital I fund will enable us, beyond the expected financial return, to implement a strong partnership with the Move Capital and Kepler Cheuvreux Invest teams and their ecosystem. We’re delighted to support Orange Business Services in this block of their innovation strategy by actively developing this partnership and new synergies”, announced Maï de la Rochefordière, Deputy CEO of Orange Digital Investment.
“We are very happy with the trust that Orange, as an anchor investor, has shown in the Move Capital fund. With Orange Business Services, we have a common vision and a willingness to support the emergence of French and European tech companies to further strengthen that ecosystem”, added Sophie Sursock and Hervé Malausséna, the co-founders of Move Capital.
About Orange
Orange is one of the world’s leading telecommunications operators with sales of 42.3 billion euros in 2020 and 137,000 employees worldwide at September 30, 2021, including 79,000 employees in France. The Group has a total customer base of 266 million customers worldwide at Thursday, September 30, 2021, including 222 million mobile customers and 22 million fixed broadband customers. The Group is present in 26 countries. Orange is also a leading provider of global IT and telecommunication services to multinational companies, under the brand Orange Business Services. In December 2019, the Group presented its new ‘Engage 2025’ strategic plan, which, guided by social and environmental accountability, aims to reinvent its operator model. While accelerating in growth areas and placing data and AI at the heart of its innovation model, the Group will be an attractive and responsible employer, adapted to emerging professions.
Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
To find out more (online and via your mobile device), go to: www.orange.com, www.orange-business.com or to follow us on Twitter: @orangegrouppr.
Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.
