Épopée Gestion, a regional investment company, has obtained the Tibi 2 label for its fund dedicated to financing “Next Gen” low-carbon infrastructure in the French Atlantic Arc. Supported by the French Ministry of the Economy, Finance and Industrial and Digital Sovereignty, the Tibi scheme mobilizes some thirty institutional investors, who are committed to supporting innovation and new technologies by investing €7 billion in approved funds. The Épopée Infra Climat I fund becomes the first Tibi-labeled infrastructure fund since the initiative was launched in 2019.
Massive support for scientific and technical innovation
The Tibi initiative was launched in 2019 by Bruno Le Maire, under the aegis of the French President, with the aim of increasing the financing capacity of French technology companies by mobilizing savings from institutional investors. The first phase, 2020-2022, saw 23 institutional investors (mainly insurers) invest €6 billion in late-stage venture capital funds (dedicated to mature startups). The new phase, 2023-2025, aims to invest 7 billion euros in innovation funds that have obtained the Tibi 2 label. This time, the scheme has been extended to include “early stage” venture capital funds (investing in young startups) and infrastructure funds with a strong technological bias.
Develop cutting-edge industrial sectors for decarbonization
The Épopée Infra Climat I fund, which has been certified today, falls into this category of technological infrastructure funds. Launched in July 2023 by investment firm Épopée Gestion (a regional specialist in sustainable finance), Épopée Infra Climat I is a highly ambitious environmental fund, classified under article 9 of the SFDR regulations. Setting itself some of the highest decarbonization targets in Europe (70% alignment with the European Taxonomy and alignment with the climate objectives of the Paris Agreements), it will invest over the next five years in a dozen particularly innovative infrastructure projects, mainly in the French regions.
Sailing container ships, electrification, new energies, recycling… the fund will finance the construction and operation of infrastructures that are often the first units in emerging cutting-edge industries. “Often, these first units are key to the launch of these new industrial sectors. Some startups have raised significant sums of money, have tested prototypes, but can only take the next step if they can secure initial orders. The infrastructures we’re targeting are precisely what’s needed to support this transition to industrial scale; this is the case, for example, with our sail-powered container ship project, which will be the catalyst for a host of innovations coming from a rich fabric of French startups and SMEs,” comments Emmanuel Walliser, Director of Infrastructures at Épopée Gestion.
Investing €350M in the regions over the next 5 years
After an initial closing of €100M in July 2023 with leading institutional investors committed to transition issues, the fund is aiming for an overall size of €350M. “Despite a complicated economic context, we continue to attract interest from French institutional players, who are very interested in the quality of the team and the ambition of the thesis. We are also delighted to have received expressions of interest European players, with whom we are also launching our marketing campaign. In France, obtaining the Tibi 2 label will be a real boost to the fund’s growth,” explains Alexandre Gallou, Director of Development at Épopée Gestion.