Crdit Agricole Private Equity, the private equity investment arm of French banking group Crdit Agricole, has partnered with three seed capital professionals to widen its base of investment opportunities.
Soridec, a French regional fund; BioGeneration Ventures, a Dutch investment fund specialising in life sciences; and Objectif Gazelles, a seed capital fund managed by business angels were chosen for their strategic fit, the firm said.
The first deal has already been carried out alongside BioGeneration Ventures with the acquisition of a stake in Flexgen, a Dutch company specialising in the development of innovative genome research tools. A number of other investment projects are currently being finalised.
Crdit Agricole Private Equity has already invested €14 million in companies at the seed capital stage such as Flexgen, MonShowroom, Bizanga, SuperSonic Imagine, EyeTechCare and Keldelice.
With €375 million in venture capital under management, Crdit Agricole Private Equity is a key player in France in SME financing and seed capital in the IT and life sciences sectors.
Crdit Agricole Private Equity manages a total of €2.8 billion in various types of private equity vehicle.
D.C.