Bryan Garnier Principal Investments takes over the management of the Cap Angel and Cap Innova Expansion funds
Paris, 24 November 2011 – Bryan Garnier Principal Investments (BGPI), the AMF regulated private equity arm of growth capital Paris-based investment bank Bryan Garnier & Co takes over the management of the Cap Angels and Cap Innova Expansion funds.
Created respectively in 2008 and 2009, the Cap Angels and Cap Innova Expansion funds invested in various sectors such as media, financial technology, the Internet and even leisure. SMEs in which they had invested have found in these two funds partners able to support them in their growth. Among these SMEs one can find a real “success story” such as “Les Argonautes”, a pioneering digital strategy agency, or Badajam, the European leader in KIID (Key Investor Information Document) production, or “Faire-Faire”, an editor of software sales networks. Innovation is at the core of this investment with real bets on the future such as NewStep Technologies, new generation French supplier of lighting based on carbon nanotubes, or Phoenix Financial Services, an editor providing solutions to securely manage, monitor and control trading activities.
After the failure of Cap Finance International (CFI), manager of both funds, a consultation was held in order to appoint a new manager. Bryan Garnier Principal Investments was appointed unanimously by the shareholders at a General Meeting held on November 8, 2011.
"We had consulted different management companies, and we were attracted by BGPI’s "track record" and its ability to work operationally with heads of the both funds’ portfolio companies, and to create value as a long term partner protecting the best interests of investors," said Olivier Bayart, wealth advisor who represents certain investors of both funds.
"This transaction is part of the broader context for Bryan Garnier Principal Investments. Indeed, according to AFIC (French association of investors for growth), in France, nearly 6mlds€ is invested today in venture capital and more than 4mld€ is invested in capital development. For most of these investments, it is a matter of illiquid assets hard to realise, stated Marc Goldberg, Managing Director of Bryan Garnier Principal Investments. We provide liquidity solutions for European investors, aligning their interests with those of the manager, being particularly attentive to the interests of portfolio companies. "
Alain Assouline, Chairman of “Les Argonautes”, is excited about the new appointment of Bryan Garnier Principal Investments. “Cap Angels and Cap Innova Expansion are the references of our company, and the arrival of Bryan Garnier Principal Investments as manager allows us to have a partner with a real sectoral expertise that will contribute to our development and help us to forge partnerships with major European media companies”, he said.
"In a particularly challenging environment for private-equity funds investors, the implementation of liquidity solutions is a major issue for investors. This is the second takeover of an investment fund in the TMT sector by Bryan Garnier Principal Investments. It is the result of a proven expertise in proactive liquidity management of portfolios in the areas of expertise of Bryan Garnier group (TMT, healthcare, Renewable Energies, Consumer and Retail, and Business Services) and of an ability to provide flexible solutions suited for each case”, said Greg Revenu, Managing Partner of Bryan, Garnier & Co.