IRDI Launches VC Fund

IRDI, a regional industrial development institute in Toulouse, France, in partnership with its ICSO Private Equity unit, has launched a new venture capital fund called Sud-Ouest ICSO 2, Les Echos reported. The fund will look to raise EUR100 million by the end of March, with the first EUR50 million coming from institutional investors that had invested in the fund's predecessor, and the second half coming from new European investors. ICSO 2 and IRDI will together be able to invest a maximum of EUR10 million per expansion capital or LBO operation in the south-west of France.