Iris Capital was created in 1986 as part of the Caisse des Dépôts group before becoming an independent entity. The professionals at Iris Capital have a great deal of experience in the venture capital sector both in France and the rest of Europe. The company has made more than two hundred investments, and up to the present time more than one hundred and seventy share sales by following a strategy based on the communications sector. Antoine Garrigues has experienced both success and failure, and has been part of the outstanding financial performances at Iris (on average +18 % net over the last eighteen years). He expresses his concerns about the future of venture capital which is currently going through a negative cycle. In France, capital contribution encouraged by fiscal measures has introduced too many new people who have not been very dynamic, and this has harmed the venture capital industry. On the whole this industry continues to suffer from the withdrawal of institutional investment bodies after the Internet bubble burst, followed by the economic slump. Has the time come for venture capital to find a new business model ?
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