Fund: Idinvest Patrimoine 2015

The FCPI Eurazeo Patrimoine 2015 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, under certain conditions, from an income tax reduction in 2015 and a tax exemption on the sums distributed by the Fund and any capital gains realised on the redemption or sale of Fund units.

These advantages are available in return for a risk of capital loss and a minimum lock-up period of 7 years, i.e. until 31 December 2022. This lock-up period may be extended to 9 years at the discretion of the Management Company, i.e. until 31 December 2024. With the exceptions described in the Regulations, investors may not request the redemption of their units during the lifetime of the FCPI.

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 FCPI Eurazeo Patrimoine 2020, 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 degree of selectivity, based on criteria that include

• companies' market positioning
• their 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 Patrimoine 2020 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 7-year lock-up period, extendable to 9 years, through a "capital culture": according to the Management Company's experience, "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.

Investing in this type of company involves risks, particularly of illiquidity of assets and loss of capital. It is essential that investors familiarise themselves with these risks in the Fund Regulations and the Fund Information Document. The Fund is not a capital-guaranteed fund. It is therefore possible that the capital initially invested may not be returned in full. The Fund's performance will largely depend on the innovative companies in which the portfolio is invested. The performance of these companies may be affected by unfavourable factors and, as a result, the net asset value of the Fund may fall. Past performance is no guarantee of future performance.