Normandie Participations
Regional co-investment fund wholly funded by the Normandy Region Région Normandie
Investment fund of the Normandy Region (initial €100M, 100% regional); co-invests equity and quasi-equity from €150k in Normandy startups, SMEs and mid-caps alongside private investors.
- HEADQUARTERS
- Colombelles, France
- FOUNDED
- —
- AUM
- —
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 8 people
Focus
- STAGES
- SeedSeries AGrowthBuyout
- ASSET MIX
- Venture capitalPrivate equityDirect investmentsPrivate credit
- GEOGRAPHY
- France
Investment arms & vehicles
- €40M participative-loan fund launched in June 2018 with the EIB and Crédit Agricole (quasi-equity for Normandy SMEs and mid-caps)
- Fund created in January 2020 with Crédit Maritime Grand Ouest, Banque Populaire du Nord, Caisse d’Epargne Normandie and Groupama; minority equity and quasi-equity of €150k–400k in maritime, coastal and river businesses
- €5M evergreen fund launched in March 2026 at the Region’s initiative and operated by Normandie Participations, investing equity in Normandy defence-sector SMEs; subscribers Normandie Participations, Normandie Capital, Crédit Agricole Normandie-Seine and Groupama Centre Manche
Overview
Normandie Participations is the regional investment fund of the Région Normandie, a co-investment fund initially endowed with €100M entirely by the Region, with ERDF co-financing. It invests in companies located in Normandy in all sectors and at all stages (seed/innovation, development, transmission), always pari passu with a private co-investor, through equity, quasi-equity, participative loans and convertible bonds. It reports more than a hundred operations and over €200M under management including the complementary instruments it runs: the Normandie Horizon participative-loan fund, the Normandie Littoral fund and, since 2026, the Normandie Défense fund.
PORTFOLIO (5)
- Groupe LequertierFood & Agriculture · since 2026
- Otrera New EnergyClimate & Energy · since 2026
- Cap AtlasSoftware & SaaS · since 2026
- NattaIndustrial & Manufacturing · since 2025
- CetteFamillesince 2017 · Exited
People
- Stéphanie ChapiteauManaging Director (Directrice déléguée) · source
- Sandrine PetitjeanInvestment Director (Directrice de Participations) · source
- Arthur DuwiquetInvestment Director, venture capital (Directeur de Participations) · source
- Paul NezerwaHead of Debt (Normandie Horizon) · source
- Thibault DroinetInvestment Manager (Chargé d’affaires) · source
- Antoine NaudoInvestment Manager (Chargé d’affaires) · source
- Franck MurrayChairman of the Board · source
- Pierre EstorgesChairman of the Investment Committee · source
Links
Frequently asked questions
Normandie Participations is a government-backed fund based in Colombelles, France.
Yes. Normandie Participations invests its own capital in private companies.
Normandie Participations invests at Seed, Series A, Growth and Buyout stages in Industrial & Manufacturing, Deep Tech, Software & SaaS, Food & Agriculture and Climate & Energy.
Normandie Participations's stated ticket size is From €150K.
Key people at Normandie Participations include Stéphanie Chapiteau (Managing Director (Directrice déléguée)), Sandrine Petitjean (Investment Director (Directrice de Participations)), Arthur Duwiquet (Investment Director, venture capital (Directeur de Participations)) and Paul Nezerwa (Head of Debt (Normandie Horizon)).
Normandie Participations's investments include Groupe Lequertier, Otrera New Energy, Cap Atlas, Natta and CetteFamille.
The most recent publicly reported investment by Normandie Participations is Groupe Lequertier (Family transmission (buyout) financing), announced in Jul 2026.
Normandie Participations states that it accepts submissions through its official contact page.
No. Normandie Participations invests its own capital and does not raise money from outside investors.