Caisse des Dépôts launches NovESS – Le Fonds ESS

On 28 June, NovESS – Le Fonds ESS, a new reference tool in the service of the Social and Solidarity Sector, was launched by Caisse des Dépôts in partnership with private and public players, Paribas BNP, Paribas Cardif BNP, CNP Assurances, Crédit Coopératif, l’Ircantec and Mutuelle Nationale Territoriale.

EnterpriseMedical-social sector and solidarity
30June2016

Les partenaires lors du lancement de NovESS - Le Fonds ESS
The new investment fund is worth €100mn, and will support businesses in the social and solidarity economy (SSE), a sector that is undergoing great change and that has strong growth potential. Caisse des Dépôts is the sponsor of the operation, and has contributed 49% of the first fundraising of €50mn, with BNP Paribas Group contributing 20%.

 

NovESS – Le Fonds ESS will provide up to 90% in own funds and quasi-own funds covering the full scope of the SSE law dated 31 July 2014 (associations, cooperatives, mutual organisations, foundations, and commercial companies with sectoral cover that is predominantly social, medico-social, and energy transition). As a priority, it will target social associations and businesses that are bearers of large-scale projects (investments ranging from €1mn to €5mn). It will also work to bring about the emergence of innovative projects with strong added value that can act as future “nuggets”, as well as projects in the acceleration phase (investments ranging from €100,000 to €500,000).

NovESS – Le Fonds ESS will also be the bearer for the setting up of MESIS, a tool for measuring and monitoring social impact. MESIS aims at being recognised as a market standard for the social-impact investment sector in France.

Logo de NovESS - Le Fonds ESS

 

 

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