September 17, 2019 / 6:35 PM / a month ago

France seeks to raise 5 bln euros in private funds to foster start-ups

PARIS, Sept 17 (Reuters) - France aims to raise 5 billion euros ($5.53 billion) in funds from private sector investors over the next three years to give French start-up companies a leg up and help the most promising ones grow further, President Emmanuel Macron said on Tuesday.

Macron, who came to power in mid-2017 on a business friendly platform, has sought to foster investment in France’s tech scene, including through high-profile conferences gathering foreign venture capitalists and French start-ups.

“The capital battle is essential. If we want to win this battle, we have to succeed at raising more capital, faster and stronger,” he said at an event at the Elysee presidential palace on Tuesday. ($1 = 0.9038 euros) (Reporting by Mathieu Rosemain ; Editing by Matthias Blamont)

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