Impact Partenaires launches €50m Impact Création fund

Impact Création will aim to help establish franchised businesses in disadvantaged areas with limited resources across mainland France. It will establish partnerships with large chains including Burger King, Carrefour Proximité, Courtepaille, Eléphant Bleu, Emova, Mail Boxes, Pizza Hut, Provalliance and others.

According to BPI France, which contributed to the fundraising, the targeted areas are home to some five million people, representing 8% of the French population. Yet, only 3.6% of the country's local and convenience stores are based in those areas.

Alongside the fund, Impact Partenaires also signed a social impact contract with France's Ministry of Economy, which has in turn committed to provide €1bn in 2022 to support the creation of new businesses and jobs in the targeted areas.

Investors
Investors in the €50m vehicle include BPI France – via Fonds Quartiers Prioritaires (part of the Programme d’Investissement d’Avenir initiative) – the European Investment Fund (EIF), BNP Paribas and France's national lottery association Française des Jeux.

EIF invested through its Social Impact Accelerator – a fund dedicated to supporting initiatives aiming to have a social impact.

In collaboration with JP Morgan, Impact has also launched an online platform that will provide various services and support to future entrepreneurs willing to open their own franchised business.

Investments
The fund aims to finance the launch of 250-300 new franchised businesses over the next five years, which the GP hopes will bring more than €200m in revenues and create 2,000 new jobs. A typical investment in a given business should amount to around €120,000, according to Impact Partenaires CEO Mathieu Cornieti.

According to the GP, the new businesses should also help raise an extra €3m in tax revenues and €13m in social contributions over the whole territory, which will also be put towards the development of the targeted areas.

A first investment was made with Impact Création on 17 March to fund the opening of a Carrefour Proximité supermarket in Paris.

People
Impact Partenaires – Mathieu Cornieti (CEO).

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