The presence is huge this year... Under the French Riviera sun, a swarm of investment banks, private equity firms and hedge funds have descended upon the four-day Cannes Lions festival. Their mission? To carve out and finance the next big advertising and media deals at the industry's most celebrated event.
For the investment bankers here, those conversations are about selling companies for clients. In fact, the CEO of an ad tech startup told Digiday they had two meetings scheduled with these bankers over the week. On the flip side, private equity investors are chatting with execs in the south of France, hunting for smart investment opportunities.
Private equity has always been a voracious buyer of ad tech,: said Ciaran O'Kane, general partner at FirstPartyCapital. Over the past four years, nearly 40% of all tech deals in Europe were done by private equity shops. We only see that trend accelerating.
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