The French ecosystem has been booming for the past five years has proven its ability to generate Unicorns like Criteo, Showroomprive or Blablacar and the next wave is coming with a strong number of fast growing and disruptive start-ups including Peopledoc, Withings, Algolia, Doctolib, Food Assembly or Sigfox.
Accel has been at the forefront of this new wave and we have been actively investing in France. In the past few years, we have deployed more than $130m in companies including Showroomprive, Blablacar, Peopledoc and Algolia and we don’t intend to slow down.
The current administration – and in particular the ministers Axelle Lemaire and Emmanuel Macron – have been working hard to help the development of the ecosystem and seek feedback from venture investors.
In this context I was invited, together with a large dozen of foreign investors, to participate in a workshop to discuss what France could to do to attract more venture capital from global firms. The workshop was held in the palace of Versailles followed by a dinner at the Elysee to share the salient points of our discussion with Francois Hollande.