The French gaming behemoth, Française des Jeux (FDJ), has unveiled V13 Invest, a fresh €30 million (£27 million/$33.5 million) investment plan. This program will enable FDJ to put money into burgeoning startups, aiming to enhance its operational procedures.
The investment fund will be overseen by Serena, a tech-focused investment firm. Serena will seek minority stakes in European startups to expand and diversify FDJ’s operations.
V13 Invest aligns with FDJ’s “open innovation” strategy, spearheaded by CEO Stéphane Pallez. This strategy aims to expedite FDJ’s transition into a digitally-driven enterprise.
The fund will concentrate on startups crafting solutions that can elevate the customer experience and payment services, especially at the point of sale. The fund will also explore investments in entertainment ventures, following its foray into esports in 2017.
As part of its digital metamorphosis, under the FDJ 2020 plan, FDJ has earmarked €500 million to invest in digital endeavors. These investments include contributions to innovative funds like Partech Partners, Raise Investment, Level Up, and Trust-Esport.
Thus far, the conversion plan has allocated €400 million.
The plan also works with business hatcheries and growth enhancers like Paris&Co and Techstars, as well as digital idea factories and the French Digital Association. This has boosted digital sales, which increased 12% annually in the operator’s 2018 performance, with 1.9 million online users registered.
FDJ’s 2020 plan is being put into action in the context of the operator’s privatization, with the French government selling its 72% controlling interest in the enterprise through an initial public offering. The French State Assets Agency (APE), responsible for privatizing state-owned assets, has assembled a group of eight investment banks to manage the procedure.
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