The Auvergne-Rhône-Alpes Region creates a fund endowed with 50 million euros to finance companies – Le Journal des Entreprises

THE sovereign investment fund created by the Auvergne Rhône-Alpes Region in 2021 will continue to invest in regional companies in 2023. The president of the regional council Laurent Wauquiez announced on February 10 the creation of a new 100% public fund, endowed with 50 million euros, during the year. The community has made support for industry one of its priorities in terms of economic policy, and it has invested 25 million euros over the past two years in the sovereign fund, which is now permanent.

Ten companies financed by the sovereign wealth fund

Targeting unlisted regional SMEs and ETIs in the industrial sector, the fund, managed by the Lyon management company Siparex and supported by structures such as the regional Medef, aims to finance them to enable them to take a step in their development, invest and innovate. This investment vehicle has thus made it possible to support ten companies, including the Lyon-based specialist in the collection of household and similar waste Eco Déchets (220 employees, €34 million in turnover in 2022), the Haute-Savoie Technogenia ( 120 employees; 28 million euros in turnover in 2022), located in Saint-Jorioz, specialist in coatings for industrial parts; or even Rhône Island (130 employees; €28 million in revenue for 2022), a company specializing in the production and marketing of charcuterie and butchery based in Cantal.

Since May 2022, the inhabitants of the Auvergne Rhône-Alpes region have the possibility of investing privately, via life insurance contracts, in the sovereign wealth fund. 5 million euros were thus collected.

Support industrial companies

In total, in 2022, the Auvergne Rhône-Alpes Region invested 104 million euros in 18 investment funds (the sovereign fund, seven so-called “innovation” funds and ten so-called “development” funds) which “made it possible to raise more than 900 million euros to support 250 companies in the region with a leverage effect of 5 to 6 billion euros”, establishes Laurent Wauquiez. 250 companies representing nearly 15,000 jobs have been helped in this way.