Emertec holds €21m first close for materials-focused fund

Launched in 2014, FEM was set up five years after its predecessor Fonds Lorrain des Matériaux (FLM). With €19m in commitments, FLM was managed by ArcelorMittal, Region Lorraine and CDC Enterprises.

Having backed SMEs such as German chemical nanotechnology specialist EPG and French prostheses developer ProTip, FLM has concluded its investment period.

Investors
FEM's LP base includes backers of previous funds such as Région Lorraine, BPI France and metalworking group ArcelorMittal. Commitments were also provided by new investors Crédit Agricole de Lorraine, corporate E.ON and business angels Victoire de Margerie and Jean-Pierre Robert.

Investments
FEM will retain the sectorial and regional focus of its predecessor FLM. The vehicle will deploy €500,000-2m tickets in exchange for minority stakes in startups and SMEs operating within the materials sector. Segments under consideration include wood, plastic and metal works, nanotechnologies, green chemistry, 3D printing and energy transportation.

The fund will aim for companies having successfully made it past the seed stage.

Although businesses with headquarters around the Metz-Nancy hub in northern France will be prioritised, FEM may also seek opportunities in neighbouring countries like Belgium, Luxembourg, Germany and Switzerland.

People
Emertec will manage the fund. Laurent Bocahut, who was also associate director for FLM, will head the vehicle. He will be joined by another professional before year-end.

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