Orange Group has established a new investment fund, dubbed Orange Digital Ventures, aimed at providing early-stage investment to firms developing advanced technological solutions in areas such as cloud computing, big data, internet of things and security in Africa. In a statement, the French giant says it will invest EUR20 million (USD22.4 million) in year one in the venture, in countries where it is active, to fund start-ups developing technologies that could play a role in the next phase of telecoms sector evolution. Orange is present in 17 African countries, with operations in Botswana, Cameroon, Ivory Coast, Egypt, Equatorial Guinea, Guinea-Bissau, Guinea Conakry, Kenya, Madagascar, Mali, Morocco, Mauritius, Niger, Central African Republic (CAR), Democratic Republic of Congo (DRC), Senegal and Tunisia.
‘The focus of Orange Digital Ventures is on financing those start-ups working on the new and next transformations of the telecoms and digital sectors,’ the company said in a statement. ‘Orange Digital Ventures will be more than a shareholder; it is designed to be a growth catalyst.’