France's FSN PME fund capacity axed by quarter

The vehicle, managed by CDC Entreprises, was launched in June 2011 with the aim to deploy €400m in innovative French start-ups.

The revised capital under management figure was made public in an update on the fund's activity 18 months after inception, released on Monday 17 June. The report provides no explanation for the change, however, and the original €400m investment capacity is mentioned in neither the report nor the fund's page on CDC Entreprises' website.

The vehicle invests €1-10m in young companies operating in eight areas of the technology sector, including cloud computing, e-education and network security. The fund can invest in equity, convertible bonds and other types of debt (both senior and junior).

FSN PME has so far deployed €33m across 14 businesses. It most recently took part in a €4.5m funding round for consumer electronics company Netatmo alongside Iris Capital. The vehicle is aiming to support 40 companies within the next four to five years.

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• Topics
• France
• Venture
• France
• CDC Entreprise Innovation