Emertec holds EUR50m first close of new fund

Fund

Emertech Gestion has held its first closing of new fund Emertech IV at EUR50m. Emertech predicts a final close of EUR60-80m in early to mid 2008. The new fund is the successor of the three previous funds Emertec, Emertec Energie Environment and Emertech II which had been recouping subscriptions since 2000.

Investors

The CEA committed EUR15m to Emertech IV while CDC Entreprises, via France Investissement, injected an equal amount. The fund received EUR12m from industrial companies such as Suez, Alstom and Gaz De France the latter investing EUR5m. EUR8m was received from financial institutions such as new investor AGF Private Equity which brought EUR4m to the fund.

Investments

The fund will be invested in early-stage companies with an investment of EUR3-4m per transaction as well as used to support companies in subsequent financing rounds. Like the three predecessors to the Emertech IV, Emertech Gestion will seek to invest in companies which focus on cleantech, the environment, renewable energy as well as micro and nano technology. Emertech Gestion will seek to invest its fund in CEA approved companies with an enterprise value of EUR1-8m which were started as a product of laboratory research.

People

The fund will be run by Eric Marty, Jean-Phillippe Stefanini and Jean-Phillippe Gendre of Emertech Gestion all of whom worked on the previous Emertec fund. The team will also soon be joined by Bertrand Maitre.

Name

Emertech IV

Closed on

EUR50m

Focus

Early-stage, cleantech

Address

Emertec Gestion

17, rue de la Frise

38000

Grenoble

France

Tel: +33 4 38 12 38 95

Fax: +33 4 38 12 34 64

Advisers

Chammas & Marcheteau (Legal).

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