Orange Digital Investment is investing in the Move Capital I, alongside Nokia, SKT, Bpifrance and the European Investment Fund
Orange Digital Investment, the investment arm of the Orange operator group, has put an undisclosed sum into Move Capital I to boost Orange Business Services. Move Capital I invests in IoT, AI, data analytics, cybersecurity, cloud and Industry 4.0.
First step to €300m
Simultaneously, Kepler Cheuvreux Invest – the management platform for unlisted assets of the Kepler Cheuvreux group – announced the first closing of the Move Capital I fund, which it said was a major step towards reaching the fund’s final objective of gathering €300 million.
The closing was apparently carried out with the support of other French and international institutional investors which include the European Investment Fund (EIF) and Bpifrance, plus Nokia and SKT, and family offices.
In its press statement, Orange Business Services sad that it and Move Capital I “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.
European approach appeals
Laurent Godicheau, Chief Strategy Officer of Orange Business Services, noted, “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.
He added, “A digital European approach to B2B is much appreciated by our global clients given the increasing fragmentation of digital ecosystems.”
Sophie Sursock and Hervé Malausséna, the co-founders of Move Capital, said, “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