Money management firm Amundi and the Alternative Energies and Atomic Energy Commission, a French public research agency known as CEA, have teamed up to launch a €230 million ($247 million) technology-focused private equity firm, Supernova Invest.
Supernova Invest will take over the running of existing strategies run by CEA's investment arm, CEA Investissement. It also will create and manage other strategies focused on financing technological innovation projects in France.
The new firm is co-owned by CEA Investissement and Amundi Private Equity Funds, each with a 40% stake, and the CEA Investissement team, which owns the remainder, said a news release on the CEA's website.
It will focus on all stages of maturity of companies, from startup to mature.
Ties with the CEA will give Supernova access to deal flow, said the release. Following approval by the French regulator, the partnership with Amundi will allow the firm to increase investment capabilities, analysis and monitoring of companies.
Credit Agricole Group, of which Amundi is a subsidiary, has moved the management of its new €50 million Credit Agricole Innovations et Territoires strategy to Supernova Invest, said the release.
Christophe Gegout, deputy CEO of the CEA and chairman of CEA Investissement, said the firm is targeting €1 billion in assets under management by 2020.
Further details could not be learned by press time.
