The National seed-stage fund (FNA), managed by Bpifrance on behalf of the French state in the context of the PIA, and the four regions (Champagne-Ardenne, Lorraine, Nord-Pas de Calais and Picardy), are joining forces to launch a new interregional seed-stage fund of €30.5mn, north-east Fira.
A general seed capital fund, it invests equity or quasi-equity in young innovative companies from these 4 regions, in the following sectors: ICT, health, biotechnology, food agro-resources and green chemistry, industrial materials and processes, eco-mobility and transport and energy and eco-technology. The fund aims to allow for the emergence and development of companies with strong growth potential in these cutting-edge sectors. It invests sums of 300,000 to €700,000, with a maximum of €2.5mn per company. Lasting 12 years including a 5 year investment period, it is targeting a portfolio of twenty investments.
Breega Capital Venture One
The French Tech Accélération fund, operated by Caisse des Dépôts and managed by Bpifrance in the context of the PIA, is announcing its equity participation in Breega Capital Venture One, managed by Breega Capital, for an amount of €11mn. Via this operation, it is making its 3rd investment, the 1st in a growth fund.
Breega Capital Venture One is a venture capital fund specialised in seed+/series A investment* in innovative start-ups from the digital economy. The equity participation of French Tech Accélération allows the fund to reach nearly €35mn and to get closer to its target size (€40mn).
At the start of December 2014, against the backdrop of the French Tech initiative and equipped with €200mn, French Tech Accélération was launched with the aim of encouraging the rise of start-up growth on French territory.
*Funds required for starting a business followed by production launch