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Regional funding entities in Normandy
Published on 31 January 2018
France
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About this good practice
AD Normandie developed a public regional equity fund Normandie Participations. It is dedicated to help the creation of employment and the local fabric of economy in a profitable way on the Normandie. The fund invests from 150K€ to 10M€ with private co-investors (30% minimum of the funding round) with the same valorisation and shareholders agreement (“pari-passu”).It is dedicated to all investment stage: Seed, Venture, Growth, LBO, distressed investment.
Normandie Participations has invested in 15 companies for about 10M€ in less than one year.
Furthermore, the fund offers a potential seed investment in convertible note for the companies entering the acceleration programme. The fund can participate up to €1 million per year (=10 companies accelerated).
In parallel to the fund, the AD Normandie implemented regional supports called “Impulsion”, which are available for regional companies (the accelerated companies can also benefit from the aids). There are different types of «Impulsion» under the form of subventions or loans.
The Regional Council provides regional support to the companies and entrepreneurs, but almost all the aids are distributed by the AD Normandie. In addition, there are the Public Investment Bank (BPI France), Reseau Entreprendre (association) and other funds such as honour loan or regional vocational funds. These actors are gathered around entrepreneurship and business development of SMEs.
Normandie Participations has invested in 15 companies for about 10M€ in less than one year.
Furthermore, the fund offers a potential seed investment in convertible note for the companies entering the acceleration programme. The fund can participate up to €1 million per year (=10 companies accelerated).
In parallel to the fund, the AD Normandie implemented regional supports called “Impulsion”, which are available for regional companies (the accelerated companies can also benefit from the aids). There are different types of «Impulsion» under the form of subventions or loans.
The Regional Council provides regional support to the companies and entrepreneurs, but almost all the aids are distributed by the AD Normandie. In addition, there are the Public Investment Bank (BPI France), Reseau Entreprendre (association) and other funds such as honour loan or regional vocational funds. These actors are gathered around entrepreneurship and business development of SMEs.
Resources needed
The fund Normandie Participations has at its disposal 100 million euros, allocated by the Regional council, to invest in Norman companies.
Evidence of success
Normandie Participations has invested in 15 companies for about 10M€ in less than one year.
Potential for learning or transfer
The Region decided to centralize the companies' support in the AD Normandie, so entrepreneurs know that the agency is their unique and privileged interlocutor for financial matters. Moreover, the political orientations of the region are directed towards the economic development through the development of the regional companies. This represents a good practice as the region will do everything in its power to support the companies, either financially or humanely.
Further information
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Good practice owner
You can contact the good practice owner below for more detailed information.
Organisation
Contact
European projects manager