KPN Ventures is part of a group of seven investors in a newly launched French investment fund focused on investing in technology startups coming out of the renowned Paris-based university Paris Sciences & Lettres (PSL) ecosystem of academic and research centers.
Managed by Elaia Partners, the PSL Innovation Fund will develop a multi-sectorial early stage investment strategy in deep tech PSL excellence fields, such as artificial intelligence, digital technologies, high-tech, industry and life sciences technology. The PSL Innovation Fund will invest in pre-seed and seed rounds in deep tech disruptive innovations and will create a close relationship with the project owners, as early as in the research labs up to their growth as international leaders. The fund has a target size of €75 million.
Herman Kienhuis, managing director of KPN Ventures: “KPN has valuable experience in working with universities, research centers and tech-transfer funds, supporting the commercialization of technology innovations. Through the investment in PSL Innovation Fund we aim to extend this approach to the strong PSL ecosystem, as we see great opportunities to partner with new technology companies to bring value to KPN customers.”
This is KPN Ventures’ second investment in a tech-transfer fund, which focuses on early-stage financing of commercial spin-offs from university research centers. KPN Ventures is also a cornerstone investor in Cottonwood Technology Fund. Investments in tech-transfer funds help expand KPN’s network of potential innovative technology partners.
The full press release can be accessed here.