The aim of this open innovation tool is to develop an international and operational monitoring system for start-up ecosystems in real time – in addition to Hub Bpifrance – to bring start-ups and large groups or even the Open CNP initiative closer to one another. By increasing business flow and the number of areas concerned, the Digital Fund of Funds will enable us to spot new technologies and emerging business models to the benefit of the clients of the Group and the French territories. They will also benefit from new product, service and organisational ideas, or even development ideas from new partnerships.
The funds earmarked by this open innovation tool will be put towards three areas of the Group’s business:
- The digital transition (use changes, digital marketing, data processing, as well as big data, security, IOT etc.);
- Smart cities (energy efficiency, smart buildings, driverless cars, community services, etc.);
- Fintech and insurtech (scoring, decision support tools, compliance, asset management, e-health etc.).
The aim is to invest in a dozen foreign capital innovation funds (from start-up to the growth of these) located primarily in Europe (outside France), North America and Asia. Through its foreign partner funds, the Digital Fund of Funds will provide preferential access to companies with underlying portfolio funds and to their business flows, or a potential base of several thousand companies leading the way in digital matters.
Caisse des Dépôts (Public Body) has subscribed €100mn, Bpifrance €24mn and CNP Assurances €15mn; these investments have been topped up in equal parts by the SNI Group, Icade, the Egis Group and Transdev, which have also subscribed to the vehicle. Furthermore, the Digital Fund of Funds will guarantee financial profitability in line with its risk profile.