The Moulin-Houzé family sets up fund for tech startups
What: The Moulin-Houzé, owners of Galeries Lafayette group, take a step towards new technologies aimed to support tech start-ups.
Why is it important: Motier Ventures, the family office of the owners of Galeries Lafayette, wish to finance start-ups that take advantage of technology to achieve hyper-growth. They will target marketplaces and start-ups in the finance and insurance sectors, along with software. The fund hopes to support 20 to 25 teams of entrepreneurs each year.
The fund grants them as a business angel, up to EUR 300,000 euros to start, following up to EUR 3 million to invest in the following stages.
The Moulin-Houzé family has already made major investments in the past, in particular with the companies Carrefour and La Redoute in particular.