Groupe Arnault, which is the family office of French billionaire and controls luxury conglomerate LVMH, has invested in The Family, a Paris start-up accelerator that has helped develop French technology companies. Groupe Arnault will also invest in Back Market, an online marketplace for refurbished electronic devices,
the
Financial Times
reported.
Groupe Arnault has launched Aglaé Ventures, which will invest between €100,000 and €2 million at a time in French tech companies and help them grow internationally, the
FT
article said. Groupe Arnault plans to invest up to €40 million in the next three years, the article said.
Groupe Alrault has invested in the technology sector since the 1990s, but typically in later-stage companies. The family office has invested in Netflix, Airbnb and Devialet, a sound-technology company, the
FT
reported. (Source:
Financial Times
, May 3, 2017.)
-
1473 reads