The government wants to encourage the French to invest in unlisted French SMEs.
Many attempts have been made in the past, without much success.
But this time, the authorities hope to have found the right solution.
Bpifrance and Bruno Le Maire, the Minister of the Economy, announced on Wednesday the creation of a private equity fund (invested in unlisted companies), dedicated to individuals.
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The government is launching a new fund so that the French can invest in SMEs
Usually, this booming asset class is reserved for institutional investors and sophisticated individuals, with entry tickets of 100,000 euros on average.
"This is completely new, it is the first time that a country in Europe has offered its compatriots to invest in their SMEs,"
Bruno Le Maire said on Wednesday, assuming a
"form of economic patriotism".
Launched on October 1, this fund called Bpifrance Entreprises 1 is invested in 1,500 small businesses, mainly SMEs and unlisted French start-ups.
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