Emyg raises €1m from Paca et al.

Launched by the Provence-Alpes-Côte d'Azur region and managed by French VC Turenne Capital Partenaires, co-investment fund Paca Investissement has been a shareholder in Emyg since a first funding round in 2011.

The vehicle will provide €500,000 of the €1m that will be injected into the business, while new investors SC Olabe and Credit Agricole subsidiary CAAP will provide €350,000 and €150,000, respectively.

The funds will allow Emyg to bolster its current present in the US, Canada, the Netherlands, Belgium, Ireland and Tunisia, while expanding into new markets. The business has also plans to invest some of the capital in research to improve its water treatment technologies.

This is the second round made by the Paca Investissement fund in a French environmental company in the past few months. The vehicle was financed a €3.8m capital injection into wind power business Idéol, which secured an additional €6.3m in debt financing during the round in March, according to unquote" data.

Previous funding
Emyg Environnement was first backed by institutional investors in December 2011, when Paca Investissement and 2C Invest came together for a €350,000 round in the company. The former's contribution at the time was €150,000.

Company
Founded in 1998, Emyg Environment & Aquaculture specialises in the design of water treatment and purification systems, as well as seashell and shellfish storage.

Headquartered in Carnoux-en-Provence, the business uses technology that generates pressured microbubbles. These systems are then are used by clients within the agro-food industry to improve their water filtering processes.

People
Paca Investissement was represented by Turenne Capital associate director Marie Desportes. Meanwhile, investment manager Armand Perrin and Olivier Benoit led the deal for Crédit Agricole Alpes Provence and SC Olabe, respectively. Giancarlo Fagiano is founder and CEO of Emyg Environnement & Aquaculture.

Advisers
Equity – Novapartner, Olivier Nett, Julien Imhoff (Legal).

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• Turenne Capital Partenaires