The Caomie Fund brings together the regional banks of Crédit Agricole La Réunion-Mayotte, of Crédit Agricole Martinique-Guyane and Elevation Capital Partners, management company of the Inter Invest group.
With more than 450 million euros of assets under management, including more than 100 million euros in Overseas Territories, Elevation Capital Partners continues its development with the launch, at the end of January, of the first professional private equity fund (FPCI) with two regional banks of Crédit Agricole. The bottom, named Caomie, has as main subscribers the regional banks of Crédit Agricole de La Réunion-Mayotte and Crédit Agricole Martinique-Guyane, with participation from Elevation Capital Partners. It will have a budget of 20 million euros which will be exclusively invested in the territories of Martinique., Guyana, Reunion and Mayotte. Its aim will be to support and assist companies at different stages of maturity., the objective being to promote the development of the local ecosystem with the implementation of a personalized equity support solution [and quasi-equity] which will complement Crédit Agricole's existing financing solutions. It will make it possible to invest in fifteen to twenty companies in the territories, mainly via a development capital strategy, but also aimed at budding businesses. The sums invested per project are planned from three hundred thousand to two million euros depending on the projects and company profiles., but the fund will be able to make investments of up to three million euros with the agreement of its strategic committee.
An investment company active overseas
“Elevation Capital Partners is part of the Inter Invest group, with a historical presence and local presence in overseas territories for more than thirty years. The development of these territories is thus part of the group’s DNA.. We have managed investment funds overseas since 2015 and have a portfolio made up of around fifty holdings across all French overseas territories.. The regional banks of Crédit Agricole will therefore be supported by a professional manager experienced in investing overseas.”, argues Benoît Sola, manager in charge of overseas investments at Elevation Capital Partners.
Extra-financial performance taken into account
“Our regional mutuals wanted to be part of a common societal project overseas in the face of economic challenges, environmental, societal and agricultural, specific to our territories”, declared during the launch of Caomie France Villette and Didier Grand, respectively general director of Crédit Agricole Martinique-Guyane and general director of Crédit Agricole La Réunion-Mayotte. The three subscribers say they are convinced that companies combining economic development and extra-financial performance in their strategy are those which will present the best prospects for growth in the future.. This is why the environmental criteria, social and good governance (ESG) will be systematically taken into account in the investment process of the new fund.
