InnovaFonds injects €3m into Icape

The fresh capital will allow Icape to perform strategic acquisitions in order to expand its services offering and grow its commercial capacity.

InnovaFonds invested via the Fonds d'Investissement de Modernisation des Industries Électriques, Électroniques et de Communication (FIMIEEC). The €35m vehicle was launched in 2011 and usually provides businesses with €300,000-5m equity tickets.

Company
Founded in 1999, Icape specialises in printed circuit boards., including single-sided, double-sided and multi-layer PCBs. Based in Paris, the company has a further presence in Europe, Asia, the US and Latin America.

Icape employs 150 staff and saw its turnover grow by 30% in 2012 to reach €44m, 80% of which was export-generated. Icape is aiming to double its turnover in the next four years.

People
Anthony Dubut and Yonathan Elmalem led the deal for InnovaFonds. Thierry Ballenghien is CEO of Icape.

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