Go Capital has held the first closing of Go Capital Amorçage II, a EUR60 million venture capital fund.
The first Go Capital seed fund of EUR57 million was launched in 2012, at the initiative of the Regional Councils of the western France, with the support of Bpifrance (through the French state-owned Seed Fund FNA), the European Investment Fund and a regional bank partner.
It has just closed its investment period with 25 equity investments in innovative start-ups.
Out of this first seed fund, over EUR60 million was invested into multiple start-ups, both by the fund and in co-investments with national and international funds, industrial companies, bank partners and business angels.
Go Capital's long-term partners have decided to renew their support of the Go Capital team by subscribing to the second fund, dedicated to financing innovative nascent companies.
The fund will provide an average of EUR500,000 and up to EUR2 million over the course of several rounds depending on the stage of the company and the nature of the project. Go Capital Amorçage II, in parallel with the development of the company, will reinvest up to a maximum of EUR4 million. For more capital-intensive projects, Go Capital will look for co-investors in the first round.
The fund will cover all a broad range of industries and verticals, in particular in the digital economy space, healthcare and medical devices, biotechnology and nutrition, environmental technologies, energy transition, as well as opportunities in service-based companies that have a tangible competitive advantage.
The fund aims to complete a second closing by the second half of 2017, totalling between EUR80 million and EUR100 million.