France mobilises €13 billion for tech sovereignty funding push

France has mobilised €13 billion ($14.89 billion) in additional institutional investor funding under the third phase of its Tibi initiative to finance French and European technology companies, the finance ‌ministry ⁠said on ⁠Friday.

The new phase aims to bring the envelope to €15 billion by the end of 2030, taking total funding mobilised under the initiative since 2020 to nearly €31 billion, the ministry said in ⁠a statement ‌released during the VivaTech conference in Paris.

The ministry said 50% ⁠of investments under the new phase would be directed towards deeptech companies.