The new investment fund InfraVia Growth Fund has raised 270 million euros from institutional investors. A feat in these times of health crisis. Its vocation is to take stakes in the nuggets of French Tech.
The new investment fund InfraVia Growth Fund is launched. He has raised 270 million euros from institutional investors to take stakes in French Tech nuggets, and is now targeting 500 million euros, coronavirus crisis or not, he said.
The fund is part of the venture capital funds – seven approved for the moment – which carry the hopes of the Macron plan announced in September for the financing of growing start-ups: those companies which have already started to prove themselves commercially , and who are looking for tens of millions of euros to accelerate their development.
By stimulating these funds, the President of the Republic hopes to lead institutional investors such as insurers and pension funds to invest more in French Tech.
InfraVia Growth Fund’s goal is to reach 500 million, a threshold that would have been achievable as early as September if the coronavirus crisis had not struck, Vincent Levita, who heads InfraVia, the company, told AFP. fund manager.
“It may take a little longer,” but a number of investors “are ready to invest,” he said.
“They have done their analytical work (…) but are currently in a mode – we are waiting to see more clearly -” he explains.
A first investment in July
By construction, the new fund focuses on a sector that could emerge strengthened from the coronavirus crisis: that of start-ups offering software and other tools for digital transformation of companies, with an exclusively professional clientele.
The purpose of the fund is to invest 10 to 50 million euros each time in its protégés.
If the deconfinement goes well, with a return to an almost normal life between mid-June and mid-July, “then it is not impossible that we announce a first deal (investment) in July,” said Vincent Levita , which has a handful of files ready to go.
“If the deconfinement is slower, if everything is normalized” in September “then we will have the first deals in September-October,” he continues.
“There are analyzes that you can do remotely in confinement, but there are things that you cannot do without putting yourself (physically) next to the guy,” he explains.
The subscribers of InfraVia Growth Fund are 80% of institutional investors and Bpifrance, which intervenes through three of its tools.
They also include a number of family group investment companies, and individual investors like Xavier Niel, the founder of Iliad.