Newfund invests in XOR Motors

Newfund invests via its maiden fund, which launched in 2008 and closed on €72m. This is the fund's 23rd investment. The vehicle can provide €0.5m-€6m per deal, and the investment in XOR is understood to sit at the upper end of that range.

The GP was introduced to the investment opportunity by corporate finance house Finance et Trajectoire, which was advising the company.

Company
Founded in 2007, Gardanne-based XOR Motors has designed an electric scooter available in two different power outputs, with versions equivalent to 50cc and 125cc internal combustion engines. The company's scooters are designed to be both more efficient and offer greater performance than traditional offerings.

XOR's scooters will be introduced to the public at the end of Q3 this year.

People
Charles-Antoine Morand worked on the deal for Newfund. Fabrice Marion is the founder and president of XOR Motors.

Advisers
Equity - Aramis, Romain Franzetti (Legal); RS Partners, Stéphane Hadida (Financial due diligence); JEFF Strato Conseil, Jean-François Herchin (Commercial due diligence).
Company - Anne-Laure Lesportes (Legal); Finance et Trajectoire, Claire Charnier (Corporate finance).

 

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• Topics
• France
• Early-stage
• Consumer
• France
• Newfund Management