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CAOMIE fund from « Crédit agricole »

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CAOMIE fund from « Crédit agricole »

Investments for Businesses in 4 Indian Ocean Territories

The regional branches of Crédit Agricole La Réunion – Mayotte, Martinique, Guyana, and Elevation Capital Partners jointly launch the CAOMIE investment fund to support local businesses.

The new Crédit Agricole Professional Investment Fund (FPCI) presentation occurred at the Cavani Stadium in Mamoudzou. The CAOMIE fund amounts 20 million EUR, including 9 million EUR contributed by two regional branches and 2 million EUR from Elevation Capital Partners. Eligible companies must Primarily target startups in the four territories and demonstrate potential for economic growth and a solid financial strategy.

In addition to possessing a customer portfolio, the selected companies will receive support from CAOMIE in their industrialization process. Didier Grand, the CEO of Crédit Agricole Mutuel La Réunion – Mayotte, states, « This fund will allow to finance companies and develop startups, thus acting on the overall business ecosystems. The scheme will offer a complete range of investments to companies ».

Hence, the fund provides capital for growing companies burdened by debts due to expansion. According to Benoît Soula, manager at Elevation Capital Partners, CAOMIE’s financing allows companies to invest without resorting to credit, addressing financial gaps for high-potential businesses.

Pascal Quineau, President of Crédit Agricole Mutuel La Réunion and Mayotte, lauded this financing initiative as a great success. The CAOMIE fund plans to invest in around twenty companies in the future, with investment amounts ranging from 300,000 to 2 million EUR based on the companies and their projects.

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