Viveris and Rhône-Alpes launch R2V fund with €25m

The fund has a lifespan of up to 14 years, with the view to divest its portfolio companies after a seven- to eight-year holding period. R2V's investment period will stretch over five years.

Investors
BPI France committed €15m to the fund via the Fonds National d'Amorçage, a €600m state-backed fund-of-funds.

Alongside cornerstone investor BPI France, the fund received commitments from BNP Paribas, Caisses d'Épargne, the Rhône-Alpes and Provence-Alpes-Côte d'Azur local authorities, the EDF-managed Une Rivière Un Territoire Financement programme, the Union des Industries et Métiers de la Métallurgie (UIMM) and several family offices.

Investments
The fund will focus its investment efforts on the south-east of France, investing predominantly in the region's technology start-up industry, backing tech companies that serve the industrial and commercial sectors.

R2V will typically provide equity tickets of €500,000-2.5m and plans on making 10-15 investments over a five-year period. The fund will seek to invest in syndicates.

People
Sébastien Touvron is the president of Rhône-Alpes Création and manages the R2V fund, while Elisabeth Bertelli is an executive director at Viveris and a director for R2V.

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