Caisse des Dépôt, RDIF commit €75m to Russian and French SMEs
The Russian Direct Investment Fund (RDIF) and Caisse des Depot will commit up to €75m of their joint €300m fund to investments in French and Russian SMEs.
The fund will take minority positions in either French or Russian businesses that are looking to expand into the other country. Amounts invested will be €20m or below.
RDIFand Caisse des Depot have made their first such investment, providing €15m to Olmix Group, a French producer of algae-based products used for human and animal nutrition and in plant fertilisers.
The investment will enable Olmix to open a production plant in St Petersburg and increase its sales presence in Russia.
The business currently has offices in 25 countries and sells its products in around 100. It expects to report annual revenues of €150m for 2017.
RDIFand Caisse des Depot launched their joint fund to foster economic co-operation between the two nations in 2013.
In 2012, Caisse des Depot teamed up with China Development Bank to launch an SME-focused fund investing in France and China.