Capital Croissance 4

FCPI Capital Croissance 4 is aimed at investors wishing to diversify their wealth by investing over the long term in unlisted, innovative European companies, and to benefit, under certain conditions, from a reduction in the Solidarity Tax on Wealth and an exemption from Income Tax on the sums distributed by the Fund and any capital gains realized on the redemption or sale of Fund units.

These advantages are available in return for a risk of capital loss and a lock-in period until September 30, 2020. With the exceptions described in the Regulations, investors may not redeem their units during the lifetime of the FCPI.

Since 1999, Eurazeo's investment teams have been developing expertise in the Innovation Capital segment. For over 20 years, we have supported ambitious founders and their teams to create the champions of tomorrow.

For FCPI Capital Croissance 4, the team aims to select between 25 and 30 companies considered by the management company, following a rigorous study, to be the best opportunities in this market segment. The team applies a rigorous selection process, with a very high rate of selectivity, based on criteria that include

companies' market positioning
attractiveness and development strategy
capacity for innovation
the potential of the management team
market outlook
exit prospects

Technological change is reshaping global economies, with new technologies and innovative business models improving both efficiency and productivity. In response, Europe's digital ecosystem has grown in recent years to become one of the world's most dynamic hubs.

RISK FACTORS

Investors are invited to consider all the risks inherent in investing in Fund units, which are detailed in the Fund regulations. The risks listed below are an extract of those mentioned in the regulations:

Risk of capital loss. An investment in the Fund entails a risk of low return or even partial or total loss of the amount invested in the Fund. In addition, as the Fund offers no capital guarantee, the capital invested may not be returned in full.

Risk of illiquidity of the Fund's assets. The Fund will mainly hold securities that are not admitted to trading on a financial instruments market, and whose liquidity may be low or non-existent. As a result, and although the Fund's objective will be to organize the disposal of its holdings under the best possible conditions, it cannot be ruled out that the Fund may experience difficulties in disposing of such holdings within the timeframe and at the price level desired or initially envisaged.

Risks inherent in all equity, quasi-equity and mezzanine investments. The purpose of the Fund is to provide immediate or long-term equity financing for companies. As a result, the Fund's performance is directly linked to the performance of the companies in which it invests, which are subject to numerous uncertainties such as: downturn in the business sector, recession in the geographical area, substantial changes to the legal and tax environment, unfavorable exchange rate trends, etc.

Past performance is no guarantee of future results.

Benoist Grossmann

Senior Managing Partner

Nasa, EDF, Thales

Matthieu Baret

Managing Partner

Italtel, Europatweb, Cap Gemini Telecom

Matthieu Bonamy

Partner

Nicolas Debock

Partner

La Poste Group, Xange, Balderton

Pierre Devillard

Managing Director

EDF Renewables, BCG

Tara Reeves

Managing Director

Wonga.com, Turo.com

Albert Shyy

Managing Director

Burda Principal Investments, Monitor Group

3

Investment teams

35

Investment professionals

5

Countries with a local presence

Past performance is not a reliable indicator of future results. Markets may perform differently in the future. However, this may help you evaluate how the fund has been managed in the past.

Name	Capital Croissance 4
Legal form	FCPI
Diversification objective	20-30 sociétés
Incorporation date	18/03/2011
Subscription period	21/03/2011 - 30/12/2011
Investment horizon	7 years
Valuation frequency	Semestrielle
Reporting frequency	Semestrielle

My ISF reduction is equal to 50% of my subscription (excluding entry fees), within the limit of the percentage initially set of the FCPI's assets invested in eligible innovative companies, i.e. (80%), with an annual ceiling of €20,000 taking into account all FIP and FCPI subscriptions. I therefore benefit from an ISF reduction equal to 40% of the sums paid, excluding entry fees, capped at €20,000.

Subscribers to Fund units who are natural persons and tax residents of France may be exempt from income tax (pursuant to article 163 quinquies B of the CGI) on the sums or securities to which the Fund units entitle them, provided they :

the units are held for a period of five (5) years from the date of subscription
the sums or securities distributed by the Fund are immediately reinvested in the Fund and remain unavailable for the aforementioned five (5) year period
not to hold, together with his or her spouse and their ascendants and descendants, directly or indirectly, more than twenty-five (25) % of the rights in the profits of the companies whose securities are included in the assets of the Fund, or to have held this amount at any time during the five (5) years preceding the subscription of the Fund units.

Subject to the same conditions as above, be exempt from capital gains tax on the sale or redemption of Fund units on expiry of the lock-up period (pursuant to article 150-0 A III 1 of the CGI).

Fund: Capital Croissance 4