UGGC & Associés legal counsel to CM-CIC Capital Privé for the second pool of Kadrige

Kadrige collects EUR 3.7m for its second pool. CM-CIC Capital Privé, coordinator, is backed by H2i and Matignon Investissement & Gestion, which contributed EUR 1m in 2007. Financiers are now majority shareholders: the balance is shared between Olivier Cadou, founder, executives and other individuals. Created in Paris in 2002, Kadrige devises solutions to assist pharmaceutical sales representatives to promote their products from home. With 40 employees, the company generated EUR 1.2m income in 2008, for a negative result. CM-CIC Capital Privé, a subsidiary of CIC Finance, is the management company of the FCPIs (Fonds Communs de Placement dans l'Innovation: unit trusts investing in innovation) and FPIs (Fonds d'Investissement de Proximité: proximity investment funds) of the Crédit Mutuel Group - CIC (CM-CIC). It is essentially investing in unlisted small to medium size companies (PMEs). As an independent management company approved by the AMF (Autorité des Marchés Financiers: financial market authority), it manages assets worth EUR 350m in 2009. This new fund raising is intended to help the company structure its organization and develop internationally. With a growth of 100% per year, Kadrige is aiming at reaching equilibrium in 2010. “Demand is high on this market: pharmaceutical laboratories are trying to cut their costs, notably by providing their sales representatives with tools that can improve their profitability”, says Olivier Cadou. Pascal Squercioni, partner, and Natalia Toribio, associate of UGGC & Associés, were acting as counsels to CM-CIC Capital Privé for this transaction on all corporate law issues.