Fund: Idinvest HEC Venture Fund

The FCPR Idinvest HEC Venture Fund is aimed at investors wishing to diversify their assets by investing over the long term in unlisted innovative companies, mainly located in France, and to benefit from a tax exemption on the sums distributed by the Fund and any capital gains realised on the redemption or sale of Fund units.

These benefits are available in return for a risk of capital loss and a minimum lock-up period of 10 years, i.e. until 31 December 2029. This lock-up period may be extended to 11 years at the discretion of the Management Company, i.e. until 31 December 2031. With the exceptions described in the Regulations, investors may not request the redemption of their units during the lifetime of the FCPR.

Eurazeo's investment teams have been developing their expertise in the innovation capital segment since 1999. For more than 20 years, we have been working with ambitious founders and their teams to create the champions of tomorrow. The team has invested €2.6 billion in 450+ innovative companies through FCPIs.

For the FCRP Idinvest HEC Venture Fund, 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 selectivity rate, based on criteria that include

• companies' market positioning
• attractiveness and development strategy
• their capacity for innovation
• the potential of its management team
• the outlook for the market in question
• 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.

The Idinvest HEC Venture Fund enables investors to benefit from the long-term dynamics and growth potential of innovative companies, in return for a risk of capital loss and a 10-year lock-up period, extendable to 12 years, through a "capital culture": in the Management Company's experience, so-called "innovative" companies generally have little recourse to debt, and will be financed mainly through capital and technological innovation, which is the key to tomorrow's new markets.

RISK FACTORS
 

Investors are invited to consider all the risks inherent in investing in units of the Fund, which are detailed in the Fund Regulations. The risks listed below are an extract of the risks 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 organise 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 equity financing to companies, either immediately or over time. As a result, the Fund's performance is directly linked to the performance of the companies in which it invests, which are subject to a number of uncertainties, such as a downturn in the business sector, a recession in the geographical area, substantial changes in the legal and tax environment, unfavourable exchange rate movements, etc.

Past performance is no guarantee of future performance.