ARTICLE | Finance
Truffle shuffle
France's Truffle raises EUR 50 million from individual investors during 2012
January 28, 2013 8:00 AM UTC
At a time when institutional investors are fleeing the venture space, Truffle Capital is taking advantage of French rules that offer retail investors tax incentives to invest directly in venture funds. The firm last week said it had raised €50 million ($66.5 million) in this manner in 2012, bringing its funds under management to €550 million ($73.9 million).
In 1997, France created a program in which individual investors are offered a tax break and an exemption from capital gains tax on money invested for more than five years in venture funds in the form of Fonds Communs de Placement dans l'Innovation (FCPI)...