Banexi Ventures Partners holds first closing

The fund's target is between €50-80m. The firm plans to announce a second closing within the next 12 months.

The vehicle has an investment period of five years and there are no plans for extensions. Carry and hurdle was described as in line with industry standards.

Investors
The vehicle attracted institutional investors and financial institutions, including CDC Enterprises, the European Investment Fund (EIF) and private European LPs.

Investments
BV5 will invest in technology companies whose principal activities are concentrated in the internet, medical technology and nanotechnology sectors. The vehicle will target early-stage companies from their creation with the aim of funding development until sale or IPO. In terms of geography, it will concentrate mainly on France and Switzerland.

Advisers
Ashurst, Xavier Comaills, Jean-Régis Gallizia (Legal).

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