Public investor Invest-NL and France's Bpifrance have signed a memorandum of understanding to co-invest in tech companies and venture funds, aiming for at least three joint investments within twelve months.
Invest-NL and Bpifrance, the French national investment bank, announced on 16 October that they will work more closely to finance European technology companies and help them scale across Europe. The two parties intend to invest jointly and to open their networks, expertise and capital to each other's entrepreneurs.
The agreement was formalised at the NL-FR Summit at VNO-NCW in The Hague, where Invest-NL chief executive Rinke Zonneveld and Bpifrance executive director Pascal Lagarde signed the memorandum of understanding.
The deal mechanics
The memorandum covers co-investment in innovative companies and in venture capital funds in both France and the Netherlands. The concrete target set out by Invest-NL is at least three joint investments within twelve months.
The cooperation focuses on companies and funds that contribute to European competitiveness and technological independence. Beyond capital, the two institutions plan to share knowledge, sector-specific expertise and best practice to strengthen the French-Dutch ecosystem.
For founders already backed by either investor, a further clause concerns market access. Portfolio companies of Invest-NL and Bpifrance are to be introduced to customers, industrial partners and investors from both sides, with the stated aim of helping them enter new markets, build industrial and commercial partnerships and raise financing. The parties will also connect each other with companies, fund managers, investors and other players in their home ecosystems.
Why Invest-NL is doing it
Zonneveld argued that capital and international networks matter for innovations to grow into large companies, and that public investors can play a role in providing both. "Europe has the technology and entrepreneurs to compete globally," he said. He added that the partnership gives Dutch entrepreneurs access to the French market.
Lagarde described Invest-NL as a central player in financing innovation in the Netherlands and called the agreement a milestone in Bpifrance's strategy to strengthen ties between the two countries.
Part of a wider pattern
The memorandum builds on earlier arrangements between Invest-NL and Bpifrance. Invest-NL says it is also working more closely with CDP, the Italian investment institution, as cooperation between European public investment institutions takes more concrete shape.
Invest-NL was explicit about its priorities: Dutch interests come first, and international cooperation has to contribute to new business activity, technological development and the Netherlands' earning capacity.
Original source: Invest-NL (press release) Suggested image: Invest-NL newsroom photo of the signing at the NL-FR Summit, on the press release page (invest-nl.nl)
