Eurazeo, a France-based investment company, has launched a dedicated activity Eurazeo Croissance to invest in French small and medium enterprises (SMEs) in need of capital to accelerate their growth. Eurazeo plans to commit EUR500m over five years in this activity.

Eurazeo will provide its expertise in supporting SMEs management teams in the deployment of industrial projects, particularly with regard to the financing and project management, whether through acquisitions or by extension of its own capacities.

Eurazeo is making the first investment of Eurazeo Croissance in Fonroche, a developer of photovoltaic system.

Eurazeo will invest up to EUR50m in equity in Fonroche: following an immediate initial investment of EUR25m. Eurazeo has already committed to invest an additional EUR25m before the end of 2011.

Patrick Sayer, chairman of Eurazeo’s executive board, said: “We are proud to formally launch Eurazeo Croissance with this first investment in Fonroche, one of tomorrow’s leaders in the development of renewable energy in France. Eurazeo will perform its role as a professional, responsible shareholder in providing support for a rapidly developing SME.”