Revealed just a few days after Emmanuel Macron's announcements, InfraVia Growth Fund has already raised 270 million euros from institutional investors. It is now aiming for 500 million euros, coronavirus crisis or not, announced Vincent Levita, who heads the fund's management company.
InfraVia diversifies its investment strategy
InfraVia, one of Europe's pioneers in the infrastructure sector, was one of the first asset management companies to invest in the infrastructures underpinning the digital economy. The company is thus diversifying its strategy in response to the ever-growing presence of tech in industrial sectors such as mobility, energy, telecoms and healthcare.
With the launch of this tech-dedicated growth fund, InfraVia aims to broaden its investor base and raise 300 million euros. To implement its new strategy, InfraVia's CEO plans to build a team of around ten people. Three partners have already been recruited, including the ex-president of Airbus Ventures and two people from Idinvest.
Investments of between €10 and €50 million
InfraVia Growth Fund is one of the 7 approved venture capital funds that carry the hopes of the plan announced by Emmanuel Macron in September. As a reminder, the plan aims to stimulate the financing of fast-growing startups, and thus encourage institutional investors, insurers and pension funds to take a greater interest in French tech.
The fund plans to invest between €10 and €50 million. These investments will support the development of French and European startups "with a strong export focus and the aim, at the very least, of becoming European market leaders", explains Guillaume Santamaria, InfraVia partner in charge of the new fund. Whatever the outcome of the health crisis, InfraVia expects to have "at least one or two companies in its portfolio by December 31".
Reaching 500 million euros by the end of the year
The infrastructure specialist has raised €270 million in the InfraVia Growth Fund to invest in French and European tech startups. The funds raised in the first closing came mainly from French insurance companies and Bpifrance.
The aim is to reach 500 million euros by the end of 2020. Two further financing rounds are planned in the near future: the first between July and September, and the second between December and February 2021. These, however, remain conditional on the economic recovery and the ability to move around France and Europe in the coming months.