Lazard, VC firm Elaia in talks to develop technology investment platform
Dec 14 (Reuters) - Investment bank Lazard said on Thursday it is in talks with European venture capitalist firm Elaia Partners to form a private investment platform that will support European tech companies from early stage funding to their listing on markets.
The new joint asset management firm will be based in Paris, Lazard said.
Lazard joins a growing list of global investment firms that are expanding into foreign countries.
U.S. banking giant JPMorgan said in November it was teaming up with Bpifrance to invest around $60 million in private investment firms led by women in France, which follows its five-year program for impoverished areas around Paris announced in 2018.
According to Lazard, this strategic partnership would enable it to meet the growing demand of its institutional and private wealth management clients for private assets.
Lazard also said it expects to launch its first European-focused fund as early as 2024. (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar)
