Caisse d’Epargne and Seventure Partners launch « Sport & Performance Capital », a French fund dedicated to the economics of sports
Caisse d’Epargne and Seventure Partners announce the launch of « Sport & Performance Capital », a new fund dedicated to the economics of sport in France. With a final target of €80 million, this fund aims at investing in startup companies and SMEs evolving in the fields of sports and wellness, furthering physical activity to preserve health and physical fitness.
This fund makes Groupe BPCE’s partnership with Paris 2024 Olympic and Paralympic Games even more concrete. Aside from being a premium sponsor, Caisse d’Epargne also proves to be a major bank player in the field of sports, with a sustainable commitment either to finance companies evolving in sports and wellness or to facilitate professional retraining of former athletes. Caisse d’Epargne has a strong expertise in supporting local companies, with both debt and private equity financing.
Investing in the development of the economics of sports everywhere in France
« Sport & Performance Capital » was created by Seventure Partners, one of Europe’s leaders in innovative companies financing. For more than 20 years, Seventure Partners has been building strong relationships with entrepreneurs and industrial world leaders and has developed a world-wide network in the fields of health, food and nutrition, and digital technologies, key sectors for the economics of sport. The fund aims at investing 80 M€ in French companies with high growth potential, selected for their innovation or their specific know-how in the fields of sports and wellness.
The fund will identify and finance companies developing and providing products or services connected to sports, such as: innovative clothing, new materials for sports practice, equipment, specific food or nutrition products, connected devices, performance tracking tools, physical parameters measurement devices, digital innovations, coaching, development of areas, equipment or events promoting the practice of sports.
The term of the investment period of the fund will coincide with the beginning of the Paris Olympic Games in July 2024 and will enable the investment team to identify around 15 companies to be invested by the fund. « Sport & Performance Capital » will then accompany those companies during their development in order to accelerate their growth, until 2029. An Advisory Investment Committee will be created, that will consist of Caisse d’Epargne managers, athletes or former athletes as Sarah Ourahmoune, Rio Olympic Games vice-champion, founder and CEO of Boxer Inside, and Tanguy de La Forest, member of Archery French team and co-founder of Défi RH Consulting, and Seventure Partners’ experts. Further investors are expected to invest in the fund and especially other branches of Groupe BPCE, among which the Banque Populaire.
« Sport & Performance C
apital » will contribute to enhance the society, to promote development at a local and regional level and to boost economic activity.
Jean-Yves Forel, Head of Retail Banking Europe and Paris 2024 Project, states: « Pushing our limits, giving the best of ourselves, keeping going ahead… Olympic values are closely linked with performance. Groupe BPCE shares these values and has been the first to commit in Paris 2024 sponsorship program. The launch of this new fund, cornerstoned by the Caisses d’Epargne and Seventure Partners, illustrates our involvement in the economics of sports in our regions, for the success of Paris 2024. »
Fabrice Gourgeonnet, Head of business development at Caisse d’Epargne: « Through this new fund dedicated to the economics of sports, in the momentum of Paris 2024 Olympic and Paralympic Games, Caisse d’Epargne confirms its willingness to be a useful bank, eager to support, finance and accompany entrepreneurship in the fields of sports and wellness, everywhere in France. »
Isabelle de Crémoux, Seventure Partners CEO and Managing Partner: « Since 1997, Seventure Partners has been actively funding innovative European companies, especially within the evolving fields of health, food and nutrition, and digital technologies. The economics of sports are deeply disrupted by the innovations and we will work side-by-side with entrepreneurs selected by the fund, giving them full access to our team of investors and their expertise, networks and know-how. »
The 15 Caisses d’Epargne are cooperative retail banks supporting regional development. With 19.2 millions clients (4.6 millions cooperative sharehorlders), they support every kind of customers in their projects: retail, companies, social economy, institutions and local and regional administrations. They aim at providing the best-in-class solutions in diversified array of activities: fund raising, asset management, loans, payment solutions, wealth management, real estate, insurance. The Caisses d’Epargne are part of Group BPCE, the second-largest banking group in France.
With €750m net commitments under management as of the end of 2018, Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure Partners has been investing in innovative businesses with high growth potential in two fields: Life sciences across Europe, Israel, Asia and North America and Digital technologies in France and Germany. Investments can range between €500k and €10m per round, or up to €20m per company, from early to late stage. Seventure Partners is a subsidiary of Natixis Investment Magares. Natixis is a subsidiary of Groupe BPCE, the second-largest banking group in France.
For more details: www.seventure.fr/en Twitter: @seventurep
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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