Finance Glossary
FCPI (Mutual Investment Fund for Innovation)
What is an FCPI?
An FCPI (Fonds Commun de Placement dans l’Innovation) is a type of Fonds Commun de Placement à Risques (FCPR).
The FCPI is an FCPR that is intended to invest 60% (70% for FCPIs established from January 1, 2014) of its assets in innovative unlisted companies. It must reach its investment quota no later than at the time of preparing the closing inventory of the financial year following its establishment. The remainder is freely invested in a portfolio of collective investment schemes (OPC) which may consist of equities, bonds, and money market instruments within the Eurozone.
Subscriptions to shares of an innovation mutual fund entitle the subscriber, for payments made between January 1, 1988, and December 31, 2016, to a tax reduction calculated on the amount subscribed (within certain limits).