France and the European Venture Market , a Call from Today
Today I had an informative call with an MBA student studying in Paris. He reached out to me via LinkedIn because he was interested in applying for the fellowship I am currently working at. I like taking the time to do these 25–30-minute calls, as it’s great to help others and secondly, you always come away learning something new.
I wanted to share one point that he mentioned. I inquired into the French VC market and by proxy the larger EU venture space. He labeled the below country/cities as the best VC markets within the EU.
1 London
2. Berlin
3–5 In no order
3. Amsterdam
4. Stockholm
5. Paris
Regarding France, I learned that President Macron has enacted some powerful initiatives to spur innovation. French VC’s can recruit non-French workers, free of any cost. They are also granting 4-year visas to foreign VC’s hired by French firms. I asked whether this initiative was geared towards targeted sectors. I learned that the overall objective is relatively agnostic, as the government is looking to drive innovation across the board. However, they would like to see some development in the tech space. Secondly, startups are highly visible in the fashion and beauty space. Which is not hard to believe as these industries are areas of comparative advantage for the French. He discussed L’Oreal recently setting up a fund. I also thought about how Rihanna’s brand Savage X Fenty was recently able to secure funding (155M) via an American French private equity firm L Catterton.
To summarize, as aspiring VC’s living in the 21st century, we must have a global mindset. We must think beyond the confines of our own borders and have an awareness of opportunities everywhere. The VC space is much larger than we often consider.
Additional Reading.
