FCPR
THE EOLINVEST VCMF
Eolfi initiated the creation of the simplified Eolinvest VCMF (venture capital mutual fund) (ISIN FR0010152249), whose purpose is to invest in wind farms. This fund is managed by the company 123Venture; it has collected equity capital in excess of €69 M and has an investment capacity of over €350 M. To date, the fund controls over 200 MW under construction or under production, in France and in Greece.
A VCMF is an investment vehicle which makes it possible to invest in non-listed companies. In accordance with Act 88-1201 of 23 December 1988, modified since, at least 50% of the assets of a VCMF must consist of securities which are not listed on a regulated French or foreign market or shares in limited liability companies. The fund is created for a period of 10 years by an asset management firm approved by the AMF (French stock market authority) and a custodian. When a fund's procedure is simplified, its subscribers need to be qualified investors (see AMF warning).
Tax advantages offered to subscribers:
- Unit holders who are natural persons and have held the units for five years are totally exempt from capital gains tax, except for social contributions (currently 11%).
- Unit holders who are legal entities are totally exempt from capital gains tax.
A new simplified VCMF dedicated to renewable energy and reserved for qualified investors started its fund collection in September 2007.
For further information, contact us at: investir@eolfi.com