Bond financing for SMEs by Twenty First Capital
We have developed specialised expertise in the bond financing of unlisted SMEs, with two specialist partners (Entrepreneur Venture Management and A Plus Finance).
The Avenir PME Obligations fund :
• Contributes directly to the financing of French SMEs ;
• Offers a complete bond financing solution (straight bonds, bonds with equity warrants, convertible bonds).
The Avenir PME Obligations Fund : 4 key points :
• Identify French growth SMEs, using a rigorous selection process ;
• Respond to varied bond financing needs : operations for organic growth, acquisitions, buyout capital ;
• Capital preservation objective through the work of selection and analysis of a management team in one of the fastest-expanding sectors in the market ;
• First "private debt" bond fund with a partial capital protection provided by Bpifrance Financement (BPI).
Under the supervision of the Chief Investment Officer of Twenty First Capital, the investment team of the Avenir PME Obligations Fund, composed of 15 people in total, has extensive experience and a highly diverse origination network.
This team is also supported by an Advisory Committee composed mainly of investors’ representatives and third-party experts sharing an in-depth knowledge of the issues relating to investing in SMEs.
Avenir PME Obligations is a Professional Private Equity Fund governed by Article L.214-159 of the French Monetary and Financial Code.
The subscription or purchase, sale or transfer of units of this Alternative Investment Fund (AIF), directly or through an intermediary, is reserved for the investors referred to in Article L. 214-160 of the French Monetary and Financial Code and the other investors mentioned in Section I of Article 423-49 of the AMF General Regulation.
For more details, refer to the rules of the “Avenir PME Obligations” Fund.
The subscription period for this fund ended on 18 July 2013.
This Professional Private Equity Fund is not subject to the approval of the AMF but was the subject to a registration procedure in accordance with AMF Instruction No. 2012-06. It may therefore adopt investment rules that represent exemptions from approved funds.
Risks are incurred in the investment in equity-linked negotiable debt securities and in non-equity-linked bonds (“straight” bonds) issued by SMEs. These risks are described in the Fund rules. Main risks : risks inherent in any investment in bonds and equity-linked negotiable debt (e.g., profitability, defaults, and exceptional events), risks linked to the valuation of portfolio companies, and illiquidity risk.