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New €50m investment fund

02 Dec 2015 | A region on the move

A first in France: Northern France sets up €50 million fund for businesses growing projects linked to the Third Industrial Revolution

The announcement came at the World Forum for a Responsible Economy in Lille , held on October 21: a new €50 million public-private investment fund has been set up in Northern France to support the 3rd Industrial Revolution.

Created jointly by the Northern France Regional Council and the Chamber of Commerce and Industry, this new fund brings together French and other European financial stakeholders from the private and public sectors—FEDER, the European fund for regional development (€15 million), Caisse des Dépôts (€15 million), the European Investment Bank (€15 million) and Crédit Agriole Nord de France (€5 million).

Called Rev3, the fund is dedicated to growth! And estimates indicate that its impact could exceed initial assets five to six-fold, raising the total to €250 million.

This fund is 100% aimed at financing businesses committed to promoting one of the eight priorities of the Third Industrial Revolution: energy efficiency, a shift to renewable energy, energy-producing buildings, energy storage, a smart power grid, mobility of people and goods, the circular economy and the functional economy. Beneficiaries are either companies based in the region or companies prepared to invest here to grow—and create jobs in Northern France.

Rev3 will be able to take equity interests of between €1 million and €4.75 million in successful candidates, and may start analyzing applications as early as the first half of 2016.

 

Source: http://rev3.fr, l’Usine nouvelle, 20 minutes


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