South Korea’s Naver invests further 100 million euros in French tech fund
PARIS (Reuters) – South Korea’s Naver Corp <035420.KS> is investing a further 100 million euros ($118 million) in French technology fund K-Fund I, marking the latest sign of international interest in the French start-up technology scene, which is vying to rival London.
K-Fund I is steered by Korelya Capital, which was founded and is led by former French digital economy minister Fleur Pellerin.
Korean-born Pellerin is credited with launching the “French Tech” initiative in the early years of ex-President Francois Hollande’s mandate, which put the country’s burgeoning tech scene on the map.
Earlier this year, Facebook <FB.O> picked Paris’ “Station F” mega-campus as the site of its first ever start-ups incubator. [nL8N1JC16B]
($1 = 0.8474 euros)
(Reporting by Sudip Kar-Gupta and Gwenaelle Barzic; Editing by Biju Dwarakanath)