Crédit Agricole Private Equity has launched two new venture funds with the intention of doubling its annual investment to €3 billion of funds under management.
It has raised a €100 million for Capenergie, the first French venture fund dedicated to renewable energies. A cornerstone of €70 million came from the bank’s coffers.
It has also said it is looking to raise €400 million in equity and quasi-equity financing for Meridiam Infrastructure, a fund targeting France’ burgeoning private-public partnership market for infrastructure investment.
Last year Crédit Agricole invested about €190 million launching LCL Innovation 1, an innovation fund, CACI 2, a buyout fund, and Mezzanis 2, a mezzanine fund.
The bank, which was a cornerstone investor in CACI 2 and Mezzanis 2 to the tune of €140 million, alongside Predica and Crédit Agricole Regional Banks, said it intended to close both funds next month.