To mark France Digital Day, President Macron announced €5 billion in investment for startups over the next three years. These funds will be sourced from institutional investors, including insurers, bank insurers, health insurers and pension funds. The aims are to facilitate access to funding for French Tech champions and to have 25 unicorns by 2025.Up to €2 billion will be invested in venture capital funds specializing in late-stage funding (tickets over €50 million), while €3 billion will be invested in funds handled by France-based asset managers, specializing in listed investment in the technology sector.In the first half of 2019, French startups raised €2.7 billion, up 23% year-on-year. They are ranked second in Europe, both in terms of amounts raised and the number of transactions. If the trend continues, the amounts raised by December 2019 could reach US$5.5 billion, 41% more than in 2018, according to CB Insights.

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Fundraising rounds in excess of €50 million are on the up in France: according to EY, there were 13 recorded in the first half of 2019, compared with just eight for the whole of 2018.

The French government also unveiled a list of 40 promising Tech businesses to form part of the “Next40”, benefiting from greater visibility and support in terms of financing and access to talent and key contacts.

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