The entry of Caisse des Dépôts for €15 million increases the investment capacity of ACOFI Gestion’s PREDIREC Innovation 2020 fund to €93 million.
PREDIREC Innovation 2020 is dedicated to pre-financing the French Research Tax Credit (RTC) for innovative SMEs and small mid-market companies. Managed by ACOFI Gestion, tbhe fund pursues an investment strategy which consists in financing SMEs or small mid-market companies through the acquisition of matured or accrued Research Tax Credit (RTC) receivables. Receivables are pre-selected by NEFTYS, the fund’s advisor. The fund’s 5-year investment period allows the management teams to also participate in VSE and SME multi-year research programmes.
This investment is in line with the Caisse des Dépôts’ twin priorities of promoting regional economic development and the encouraging deployment of new tools dedicated to financing innovation by VSEs/SMEs.
For Gabrielle Gauthey, Director of Local Development and Investment for Caisse des Dépôts, ‘the initiative pursued by ACOFI Gestion with this fund enables Caisse des Dépôts to target growth, employment and innovation driven by French VSEs and SMEs by facilitating the financing of their R&D programmes at a time when cash flows are often tight or lacking altogether.’
‘In joining the Fund’s first investors, including the EIF, and providing us with additional investment capacity, Caisse des Dépôts confirms the legitimacy of our approach and the economic utility of our investment strategy. We know that the fund’s financing proposal is extremely attractive for small innovative companies in their development phase’, said Thibault de Saint Priest, Managing Director of ACOFI Gestion and Wissem Bourbia, Director of the PREDIREC Innovation 2020 fund.