Credit Agricole PE launches two new FCPI funds

For the second year running, Credit Agricole Private Equity is offering two FCPI funds to high-net-worth clients. FCPI Credit Agricole PME Innovation 2009 will be available to its regional banks and the Banque de Gestion Privee Indosuez (BGPI), while FCPI Capital Invest PME 2009 will be availed to LCL clients.

As with previous years, the funds will be used to invest in innovative SMEs in return for tax breaks for the investors. The fund's investors plan to take advantage of the 2007 TEPA act, through which French tax payers can reduce their wealth tax liability by up to 40% by investing in SMEs. The new fund will invest directly in European SMEs to finance their growth. Their assets will be 60% invested in innovative European SMEs, including 40% in young companies under five years old. Credit Agricole Europe Innovation 2008 will be managed by Credit Agricole Private Equity's venture capital team.

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