Yesterday took place in Moca, the signing of the agreement of the co-investment instrument for VSE-SMEs between Apicap and the European Investment Fund (EIF). This signature follows the creation of La Financière Région in September 2017, a €50 million fund of funds for loans and guarantees for small and medium-sized businesses in Reunion Island.
"This is a pilot project," says Jacques Darcy, Director of the EIF's Equity Investment Management Mandates Department. "An important moment for Reunion Island," adds Olivier Rivière, who points out that the Region has made companies the heart of its political action.
The financial structure of Financière Région is unique. Companies have two options for financing: debt or equity. The first is a risk-sharing bank loan instrument and the second is a co-investment instrument commonly referred to as "equity." The CFB was chosen for the first investment. For the second instrument, Apicap was appointed by the EIB (European Investment Bank) after a study of the file and a major oral hearing in Luxembourg.
To achieve this, Apicap has launched a fund called Essor PME Réunion with a budget of €10 million, to which the company will contribute €20 million. "30 million euros will be available for companies with less than 7 years of existence," explains Apicap's Indian Ocean director, Zaynah Amourani. Tickets will range from €100,000 to €1.2 million. "Participation in companies is in the minority," she says. In all, some twenty companies will be able to benefit from this instrument. "We are here to support companies as they embark on a growth path, whether it is for internationalization or structuring," says Alain Esnault, Apicap's CEO. His company has invested more than 500 million euros in 230 companies since its creation.
En tout, les deux instruments permettront de mobiliser plus de 62 millions d'euros pour 800 à 1 000 entreprises réunionnaises.
Source : Cliclanoo.re