Telecommunications giant Orange launched a $23m early-stage digital ventures fund.
Orange Digital Ventures will identify and fund startups working on the new and next transformations of the telecoms and digital sectors with a particular focus on communication, connectivity, the cloud, payment, the Internet of Things and big data, e-Health and security services developing innovative solutions and technologies as well as inventing new business models.
Orange Digital Ventures will make capital investments via minority holdings in startups in all geographical regions where Orange is present.
With sales of 41 billion euros in 2013 and 159,000 employees worldwide at 30 September 2014, including 99,800 employees in France, Orange is present in 30 countries. It is also a provider of global IT and telecommunication services to multinational companies, under the brand Orange Business Services.