ISF tax innovation mutual funds: inflows up 32% as Crédit Agricole Private Equity raises €37.2 million

For the third consecutive year, Crédit Agricole Private Equity will manage two innovation mutual funds, providing finance to innovative SMEs, that allow individuals to take advantage of provisions in respect of the ISF tax (wealth tax) and income tax under the TEPA law.

CA Investissement 2* and Capital Invest PME 2010 have been marketed by Crédit Agricole’s Regional Banks and the LCL network to their high net worth individual clients.

Crédit Agricole Private Equity raised €37.2 million, a 32% increase compared with 2009, from 4,200 private investors making an average investment of €8,900 each.

Antoine Colboc, manager of Crédit Agricole Private Equity’s Risk Capital business, notes: “This high level of inflow confirms the attractiveness of innovation mutual funds to individuals. These products are invested exclusively in fast-growing, young and innovative companies and play an essential role in economic  development in France, since they provide the equity needed for these companies to develop the new  technology that will create tomorrow’s jobs.”

Crédit Agricole Private Equity’s Risk Capital team has operated in the innovation mutual fund market since 2000 and manages €470 million in the form of innovation mutual funds with funds subscribed by 35,000 individuals who are clients of the Crédit Agricole group (Crédit Agricole Regional Banks and LCL).

With annual inflows of more than €70 million for investing in innovative SMEs, Crédit Agricole Private Equity is one of the major players in France in launching and financing innovative SMEs.

* CA Investissement 2 is managed by par Amundi Private Equity Funds. Its innovative quota has been delegated to Crédit Agricole Private Equity.