France Telecom and Publicis SA are setting up a venture-capital fund focused on European technology startups.

Initially capitalized at about $139 million (100 million euros), the companies will seek additional investors to raise a fund of perhaps 300 million euros ($411.5 million). France Telecom, Publicis Create Venture Capital Fund

As you might guess, the sorts of companies that might receive funding are of interest to both a mobile service provider and an advertising firm.

Likely sectors include online marketing, e-commerce, mobile content and services, online gaming and social networks, as well as their associated technologies and infrastructures such as middleware, cloud computing, security, and online payments. Likely investment areas

The venture, and the likely investment themes, illustrate the perceived importance of mobile advertising to both France Telecom and Publicis.

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