Leonardo Finance alters strategy

Leonardo Finance, the French corporate finance boutique, has announced that it is working towards a capital increase of Euro 7.6m (FFr 50m). Although institutions are said to be interested, it is seeking to raise these funds from business angels who would then work alongside Leonardo in raising rounds of funding for companies. In future, Leonardo is also planning to invest in share options in some of the companies for which it works, thus gaining access to small returns at the later stages of the companiesÂ’ development. It will, on average, make investments of around FFr 1m and will carry out about 20 such transactions each year. Leonardo Finance will continue to act as an intermediary, taking 5% commission on rounds of fundraising which successfully complete.

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