French healthcare player MGEN, VC investing in impact startups makesense and Serena Capital have joined hands to create an €80 million impact fund. Dedicated to innovative and ambitious companies that generate a positive impact on society and its environment, Racine² will offer funds ranging from €500,000-€3 million. The fund will be used to invest in companies that are 80 per cent located in France and are working in four major areas.
It includes developing physical and sports activity to outdoor activities attractive and accessible; improving daily lifestyles by developing solutions that promote well-being; protecting the environment; making education accessible to everyone.
Fabrice Heyriès, managing director of the MGEN Group said: “The Racine² fund exemplifies our ambition to finance innovative projects. We believe that economic performance and making a positive impact (social and environmental) are not mutually exclusive. Companies that receive support will help to shape a better world.”
Léa Zaslavsky, co-founder of makesense said: “As social and environmental divisions continue to widen a little more each day, makesense will co-manage a fund whose primary mission is to finance companies that truly care for people, our connections and our world. Racine² is a first step and the beginning of a financial and cultural revolution. The projects supported will help to think up and develop the contented, sustainable society that makesense wants to see.”
Eric Gossart, principal at Serena added: “Today, impact represents a unique turning point, similar to the digital transformation and artificial intelligence. Companies that were built on the concept of making an impact are gaining a significant competitive edge over those that have not integrated social, economic, and environmental progress into their business model.”