Today the Bordeaux region is recognised as a place where business financing and investment projects benefit from a wide and structured range of solutions and close collaboration between private and public stakeholders.
With a regional capital investment system which is already well structured, and the presence of several venture capital companies, the Bordeaux region has strengthened its offering with the arrival of ACE Management and Enternext and the set-up in the region of Bpifrance.
The opening of local branches of these two venture capital companies is a significant marker of the dynamism and potential of companies and the many innovative start-up businesses that are set up and grow in the Bordeaux Region. Many of them have also succeeded in recent months in raising strategic funds:
- €15 M for Innoveox (waste management);
- €30 M for Amplitude Systèmes, one of the world leaders in short-pulse lasers;
- €1.5 M for Cartégie (provider of database marketing);
- €900,000 for civilian drones specialist Fly-n-sense;
Arrival of ACE Management and EnterNext: positive indicator of the economic dynamism of the Bordeaux metro area
Specialised for over 20 years in capital investment in technology companies with the emphasis on Aerospace, Maritime, Defence and Security, ACE Management manages 9 investment vehicles representing over €450M of capital, including the Aerofund (I, II and III), Securité, Financière de Brienne and Atalaya funds. In September, ACE Management opened its 5th regional operation in Bordeaux.
EnterNext is an SME and Mid-cap stock market. Established in May 2013 and a subsidiary of NYSE Euronext, it seeks to facilitate the access of SMEs and Mid-cap companies to the capital markets. The creation of six regional offices including Bordeaux – in association with Bordeaux Place Financière et Tertiaire – is in response to the desire to encourage local SMEs and Mid-cap companies to join the stock market, to support them in their capitalisation and promote them to investors.
This strategy is already a great success. In November 2013, Implanet specialising in spinal and knee implants and based in Martillac successfully carried out its IPO on NYSE Euronext, raising funds of €14.1 M. This capital increase is particularly targeted at the international commercial development of its latest-generation implant “Jazz”.
Bpifrance: one-stop public funding schemes for businesses
Bpifrance Aquitaine* was set up in 2013. The objective of this one-stop shop is to make all financing solutions using public funds to support businesses more straightforward and accessible, and closer to the economy.
Intervention by Bpifrance is usually on the private investment side, for example the capital increase in 2013 of the Libourne company Fermentalg, specialising in micro-algae. Bpifrance, through its Environmental Technology fund has invested € 4.6 M of the € 12 M increase together with IRDI, Viveris Management and existing investors. The objective for Fermentalg is to move into the industrialisation of molecules which it is developing in order to become a global leader in the industrial use of microalgae.
* Created in December 2012 from the merger of the French Sovereign Fund (FSI), OSEO, the French public bank supporting SMEs and innovation, and CDC Entreprises, a subsidiary of the Caisse des Dépôts (Deposits and Consignments Fund).