JEREMIE Fondo Multiinstrumento
Topic of the practice
Definition of the investment strategy as foreseen by Reg.1828 art.43 General provisions applicable to all financial engineering instruments
Good Practice Information
Launched in Nov 2009, is the principal FEI of the JEREMIE Fund in Andalusia, total funding of 185 M€. It is a multisector fund aiming at financing early stage expansion fases of innovative hight growth companies. Companies in a early expansion fase are facing high dificulties in get financed by the financial market. The financial crisis has aggravated this structural financial gap in Andalusia.
Its aim is to provide a company with a complete solution for its financial needs.The fund is flexible due to a variety of financial instruments (equity capital, mezzanine funding, loans, convertible loans, guarantee) which enables it to offer taylor made solution to all early stage expansion companies.Typical investment amount is between 1 and 2 millions of Euro combining 2 different instruments
Evidence of success
This good practice has been chosen because of its flexibility,relatively easy to refine the financial conditions, even after having signed the intermediation contract.In contrast,if a mono-line instrument does not perform,it's very difficult to adjust after contracting.The adaption to the real market needs, even if these needs change over time.
Contact details to obtain further information on the practice
Agencia de Innovación y Desarrollo de Andalucía IDEA
Annex completed on: 10-21-2013