
BPI France and Emertec invest €2.6m in Ijenko
BPI France and Emertec Gestion have injected €2.6m into Ijenko, a French provider of home energy management technology.
Emertec invested via its Fonds Emertec 4 vehicle, which held its first close on €50m in February 2008 and counts Edmond de Rothschild and AGF among its subscribers.
BPI France backed the company through the €150m state-backed Fonds Ecotechnologies, which was launched in 2012 to invest equity tickets of €1-10m in companies operating within France's environment and energy sectors.
Emertec has also this week taken part in a €2m funding round for French smart-grid specialist Qualisteo, investing alongside Demeter Partners.
Previous funding
Ijenko first received funding in January 2010, securing €2m from I-Source Gestion and corporate investors Direct Energie and Bouygues Telecom Initiatives, according to unquote" data.
This was followed by a second funding round in May 2011. I-Source once again led the €3.5m round, which saw the same two corporate backers up their investments in the company.
In February last year, BPI France led a €3.7m third round of funding for Ijenko, contributing €2m via the Ecotechnologies fund. The state-backed investor was joined by I-Source and Bouygues Telecom Initiatives.
Company
Founded in 2008 and headquartered in Boulogne-Billancourt, Ijenko has developed a home energy management solution, designed to aid in the deployment and operation of wide-scale energy management services in the residential market for utilities and internet service providers, specialised retailers and system integrators.
Ijenko's software offering allows its clients' customers to measure and control energy consumption, and is designed to improve energy efficiency.
The company employs approximately 20 staff.
People
Serge Subiron is the CEO and a co-founder of Ijenko. Eric Marty, an investment director at Emertec, worked on the deal. BPI France investment director Gilles Schang and Laurent Arthaud worked on the deal.
Advisers
Equity – Jones Day (Legal).
Company – LS Avocats (Legal).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater