Sub-paragraph 4: Local investment funds

I. – Local investment funds (fonds d’investissement de proximité) are venture capital investment funds (fonds communs de placement à risques), at least 70% of whose assets consist of financial securities, shares in limited liability companies and current account advances, as defined by I and 1° of II of article L. 214-28, which give subscribers only the rights resulting from their status as shareholders or partners, to the exclusion of any…

Local investment funds may not benefit from the provisions of article L. 214-24-26.

Each year, before 30 April of the following year, local investment funds send the Autorité des marchés financiers a summary statement of the companies financed, the securities held and the amounts invested during the year, in accordance with the conditions defined by joint order of the ministers responsible for the economy and the budget. The information contained in this statement is that at 31 December of the year. The Autorité…