VENTURE CAPITAL

INDUSTRIES

INVESTMENT STRATEGY

 
A GLOBAL PRIVATE EQUITY FIRM

INCO is an impact investment firm with nearly a decade-long track record through INCO Venture Capital, investing in socially inclusive and environmentally sustainable startups with compelling financial returns.
 
Through both an international network and local expert teams, INCO Venture Capital provides long-term equity and quasi-equity, from seed to growth stages. We complement our financial investments with strategic and technical assistance to support the growth, development and impact of our portfolio companies.

72 

investees

€150M

assets

33 

years of expertise in PE&debt financing combined on the management team

   
  Early Stage Capital

 

INCO’s venture capital funds invest in early-stage social and green startups. 
 
Our initial seed investment round, as a minority shareholder, typically ranges from 100K€ up to 1M€. We target startups with a proof of concept that have the ambition and potential of becoming market leaders in their markets. We are a patient venture investor (5 to 7 years), using financing tools tailored for startups, from minority shares to convertible bonds, as well as shareholders loans or short-term notes when needed.
 
We aim at building sustainable innovative companies and generating high financial and social returns for our investors.

70% of our portfolio  

       Growth Capital

 

INCO’s growth capital funds invest in profitable, social and green companies.

 

We target successful SMEs in high growth markets, which have proven business models. Their experienced management teams have brought the company to break-even. We support their development and scaling-up through long-term capital, with ticket sizes ranging from 1M€ to 5M€. We invest with the aim of owning minority interest, using equity and quasi- equity.
 
We aim at supporting successful companies on their path to success, and generating high financial and social returns for our investors.

 

 

 

30% of our portfolio

OUR FUNDS 

 
FOSTERING ROBUST AND LONGSTANDING RELATIONSHIPS WITH INVESTORS

Fostering robust and longstanding relationships with investors is key to  INCO. We strive to generate the best financial performance for them, while providing a strong and measurable social impact.


The investment team relies on a solid base of institutional investors:

INCO Investissement

AVIVA

Impact Investing France

NovESS

CTI

Euro Social

Bond Fund

VC PARTNERS NETWORK

 
INCO HAS BUILT A STRONG NETWORK OF VENTURE CAPITALISTS 
Our network members are all committed to developing the impact investing market, share best practices, successful strategies and deal flow to foster high growth portfolios, and are part of the same INCO community.

  OUR INDUSTRIES

 
INCO IS A LEADING IMPACT INVESTING FUND
INCO is a leading impact investing firm. From seed and venture to growth-stage companies, we have sought to capitalize on global pressing issues to target attractive and impactful companies with strong consolidation opportunities. INCO invests mainly - but not exclusively - in 4 core sectors :

OUR IMPACT

 

OUR CROSS SECTORS IMPACT

+100,000

jobs

150 

team member

1.5M

children supported

4.5M

tons of waste avoided

+150M€

assets

300,000

people trained

2,3M

low income supported

+500,000

trees saved

METHODOLOGY

 
A UNIQUE FINANCIAL AND IMPACT ASSESSMENT TOOL

INCO has developed INCO Ratings, a unique financial and impact assessment methodology, tailored for green and social businesses through a set of 600 financial and non-financial criterias.
 
The INCO Ratings methodology is composed of a complete financial analysis of portfolio companies, grasping their business model, the added value of the solution, market opportunities, financial stability and growth perspectives.

 

INCO Ratings lead to a clear and quantified rating report, precious guide for investors but also a useful tool for entrepreneurs to monitor and improve their impact.
 
INCO Ratings allows conducting global non-financial assessment adapted to different industries including healthcare, accessibility for the disabled, fair trade, employment, clean and renewable energy, etc. and taking into consideration all the dimensions of social and environmental impact.
 
The social and environmental performance of our investments is crucial. A rigorous impact evaluation is essential in order to select social and green startups and measure their impact outcomes on the long-term.

With the creation of the NovESS fund in 2016, INCO worked with La Caisse des Dépôts et Consignations and BNP Paribas to develop the extra-financial assessment methodology MESIS. This methodology, uses the same approach as INCO Ratings, and allows a complete social impact assessment using 15 categories of analysis that can be used in 7 main social sector fields : employment, housing, health, education, poverty, microfinance, environment.

600
Financial & Social Criteria

TWELVE
extra financial fields 

INCO Ratings/MESIS

STANDARTIZED RATING SCALE 

( from - 5 to + 5) set for each 

indicator to grasp the social companies' performance

SET UP 
of impact objectives 

 MONITORING 

of investee’s non-financial

performance to ensure compliance with the  social impact objectives of the funds.

REPORTING 

of the social impact monitoring

SELECTION
of the most significant impact indicators 
(4 or 5) per entreprise

VALIDATION   

of the impact indicators and targets and  objectives by the investments fund’s committee and by the target investee’s governance bodies. 

BI-ANNUAL
follow up meeting with the portofolio companies

EXTENSIVE SUPPORT SERVICE

 

Portfolio companies have the opportunity to :

 

 

             TAP into our large corporate and institutional network, and learn from like-minded peers.

 

       

             MEET specialized experts (market positioning, product development, communication, financing                            strategy, etc.).

 

            

             CONNECT to the most innovative startups across the globe, and the latest experts on the hottests                     topics, thanks to INCO.ORG.

 

OUR PORTFOLIO

MEET OUR INVESTEES

 

GOVERNANCE

A STRONG GOVERNANCE STRUCTURE

Investors Committee

Each of the funds INCO manages or advises has its own Investors Committee. Gathering the LP‘s of the fund, the Investors Committee gives advice on the fund's strategy and reviews the portfolio introduced by the Investment team.

Executive Committee

The Executive Committee oversees the day-to-day management of the firm and all non-investment related to strategic and management decisions. The executive committee is chaired by INCO Chairman, Nicolas Hazard.

Investment Committee

The Investment Committee is responsible for all investment-related decisions, as well as the overall monitoring of the funds’ investments. It is chaired by INCO’s Managing Director and includes Investment Directors and Officers with a combined 33 years of private equity and financing experience.