FCPR ADVANCED FUND ABOUT
ADVANCED FUND is a Venture Capital Fund (FCPR) benefiting from a simplified procedure, as provided by the Collective Investment Schemes Code.
CMF Approval : Issuance Prospectus
The management objectives of FCPR ADVANCED FUND are :
- Maximizing returns for investors
- Supporting innovation by financing innovative projects and companies
- Promoting responsible and sustainable development through an investment policy that complies with the Environmental and Social Standards adopted by the World Bank
FCPR ADVANCED FUND considers not only the financial returns and innovation potential of target projects but also their environmental and social impact, as well as corporate governance factors.
FCPR ADVANCED FUND Investment Rules
FCPR ADVANCED FUND intervenes to meet the expansion needs of established companies with high growth potential (improving production capacity, entering new markets, etc.): Development Capital.
Investments will be directed towards companies that qualify for tax benefits in accordance with current regulations and are capable of generating positive economic results, such as:
- Companies investing in regional development areas
- Companies operating in the agriculture and fishing sectors
- Companies focusing on technological advancement and innovation
- Companies facing economic difficulties, as part of business transmission and restructuring operations, in compliance with current legislation
FCPR ADVANCED FUND will be positioned in all sectors with strong development potential. The Fund will finance projects characterized by significant competitive advantages and/or international exposure, including:
- Information and Communication Technologies
- Manufacturing industries
- Infrastructure and logistics
- Agriculture and agri-food sector
- Healthcare and pharmaceutical industries
- Retail
- Renewable energy
- Education, teaching, and training
Minimum Investment Amount
The minimum participation ticket of FCPR ADVANCED FUND in each target company is five hundred thousand (500,000) dinars.
FCPR ADVANCED FUND Environmental and Social Policy of the Fund
FCPR ADVANCED FUND integrates environmental and social responsibility into its investment decisions and monitoring of its project portfolio. Through its environmental and social policy, the Fund acknowledges that it is essential to encourage compliance with environmental and social standards recognized by national regulations and the international community.
The environmental and social policy of FCPR ADVANCED FUND, in terms of investment selection, is aligned with:
1) The regulatory framework of CSR in Tunisia, as promulgated by law no. 35 of June 11, 2018. This law aims to improve the working environment within companies and to establish the principle of reconciliation between the company and its environment.
2) The World Bank’s Environmental and Social Policy (ESP) for financing investment projects. The selection of target investment projects by the Fund takes into account the guidelines outlined in the Environmental and Social Framework established by the World Bank, including:
- ESS No. 1: Assessment and management of environmental and social risks and impacts.
- ESS No. 2: Employment and working conditions.
- ESS No. 3: Resource efficiency and pollution prevention and management.
- ESS No. 4: Health and safety of affected communities.
- ESS No. 9: Financial intermediaries.
Environmental and Social Management System
An Environmental and Social Management System (ESMS) will be established to identify, assess, manage, and continuously monitor the environmental and social risks and impacts of the SMEs in its portfolio.
The ESMS of FCPR ADVANCED FUND (the Fund’s environmental and social policy, applicable environmental and social standards for target projects, environmental and social risk assessment of projects, risk classification, and eligibility criteria for project selection) helps the Fund to avoid and/or better manage projects with potential environmental and social risks by conducting environmental and social due diligence prior to investment decisions and ensuring adequate supervision of projects during the investment period.
FCPR ADVANCED FUND Fund Governance
To ensure responsible, ethical management in the best interest of investors, the governance of FCPR ADVANCED FUND refers to the structure and decision-making mechanisms that govern the Fund’s operations.
The main governance structures of FCPR ADVANCED FUND are :
- Manager : GMP CAPITAL.
- Depositary : Banque de Tunisie.
- Investment Committee : This committee plays a decisive role in aspects related to the management of FCPR ADVANCED FUND, such as investment operations, divestment, and exceptions to the investment strategy.
- Strategic Committee: This committee’s role is to inform investors about the progress of the Fund.
- Compliance and Internal Control Officer : Responsible for identifying the procedures necessary to ensure that the manager and relevant parties comply with their professional obligations.
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