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Turenne Capital acquires Innovacom stake

Turenne Capital has acquired a 20 per cent interest in Innovacom, a longstanding European venture capital player focused on innovation, with an eye to developing a partnership.

Amid the dynamic of consolidation in the private equity market, Turenne Capital, with EUR730 million in assets under management, aims to become a concentration hub in France and to reach critical mass of EUR1 billion in AuM in the coming months.
  
Since 1988, Innovacom has specialised in innovation capital and seed capital transactions, offering start-ups support from early to late stages. Innovacom has nearly EUR200 million under management and aims to raise additional funds in the coming months.
 
The partnership between Turenne Capital and Innovacom will benefit stakeholders in a variety of ways. For LPs, the two groups will strengthen their links to institutional and corporate investors, offering a choice among several investment vehicles while pooling their fundraising and management expertise. For companies with strong innovation credentials, the new allies now offer enhanced investment capacity, led by teams recognised for their expertise and extensive experience when it comes to supporting rapidly growing companies.
  
Turenne Capital’s philosophy has always been to promote an entrepreneurial spirit among its partners with an eye to fostering innovation, developing new business lines, launching new funds, attracting new talent and making their role as investors truly meaningful. 
 
This animating principle has required the firm to adapt constantly to the economic environment and to pursue growth-centered action, exploring new business lines and supporting companies engaged in innovation, whether incremental or disruptive. Turenne Capital already manages or advises assets worth EUR100 million in this segment.
 
The entrepreneurial approach is part of the very nature of Innovacom, recognised for the high-quality support its teams provide to founders looking to grow their companies, as well as for the constructive relationships it has always helped build between start-ups and corporate stakeholders.
 
This shared vision is the cornerstone of a promising pact between the two management companies, which are both accredited by the AMF, the French stock market regulator. They maintain full independence and keep their own teams while capitalising on their synergies to achieve their goals.
 
This summer, Innovacom overhauled its governance structure. Jérôme Faul, Frédéric Humbert and Vincent Deltrieu head up the company. Jérôme Lecoeur, who actively participated in negotiating this agreement, will be welcoming the start of this new phase as Senior Advisor. 
 
Olivier Motte, Chairman of the Management Board of Turenne Capital, says: “I am gratified by this agreement, which will give us the benefit of Innovacom’s proven experience in the innovation capital market and support for start-ups. This agreement marks the start of a new chapter for us, as reflected in a new momentum that resonates with the success of our ‘Technology, Digital and Healthcare’ fund.”
 
 François Lombard, Chairman of the Strategy Committee at Turenne Capital, adds: “This transaction illustrates our dual ambition: to take part in the nationwide movement to highlight and transform start-ups while positioning ourselves squarely as catalysts capable of providing effective support to mid-size structures. We have full confidence in the team led by Jérôme Faul to carry out a successful fundraising campaign for its upcoming vehicles.”
 
Jérôme Faul, Chairman of the Management Board of Innovacom, says: This partnership with Turenne Capital gives us the chance to create a strong and ambitious group for the benefit of investors looking to put their capital to work in the real economy, supporting the most innovative entrepreneurs.”

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