« Avec Impact Source, nous voulons que Bordeaux irrigue la finance à impact en Europe »
Impact source. This is the name of the fund of funds, i.e. a investment fund that invests in other investment funds, launched jointly by Groupe SOS and Magellim to foster European ambitions. The challenge ? Supporting impact investors – or those who intend to refine their future – and at the same time fight against “washing impact”, the pendant of the green wash in the world of venture capital. Based in Bordeaux, this fund of funds is run by Guillaume-Olivier Doré, a multi-entrepreneur profile, vice-president of French Tech Bordeaux and president of Finaqui and of Keyop Mediawho is now a partner at A Plus Finance, a subsidiary of the Magellim group.
A target of 300 million euros in mid-2024
The latter holds more than three billion euros in funds under management, mainly in real estate investments, particularly in the regions, and intends to develop its impact investments. It is precisely for this purpose that Magellim joins forces with Groupe SOS, an associative group that brings together 650 establishments and services, associations and social enterprises for a total of 22,000 people in 40 countries.
“With Impact Source, we want to make Bordeaux the place that will irrigate impact finance in France and Europe. For this, we want to mobilize 300 million euros to invest in funds whose impact strategy we have proven to dissect in order to be able to guarantee the real impact.explains to La Tribune Guillaume-Olivier Doré, who intended to form a team of five people in Bordeaux to manage this new vehicle.
On the target of 300 million euros to be raised by mid-2024 from institutional investors, Impact Source hopes to complete a first tranche of 100 million euros from the second half of 2023. Enough to be able to sign the first investments in end of the year whether for growth capital, development capital or business transfer operations. Guillaume-Olivier Doré is already supported in this task by Axel Paugam, senior secondary specialist advisor and investment director.
A single SOS Group standard
Impact Source is rated SFDR 9 (Sustainability Disclosure Regulation), the highest level of European regulation. This category aims to increase transparency on the nature of the investments and to impose ” present a sustainable investment objective, contributing to an environmental or social objective, without causing significant harm to other environmental or social objectives “.
And to convince of the seriousness of its own approach, Impact Source has relied on the historical know-how of the SOS Group to build ” a single benchmark for assessing the relevance of the different impact investment strategies “. Three dimensions will mainly be scrutinized: social inclusion and education; health and aging well; the climate and the environment. ” We are going to insist on the measurability of these criteria but also on the intentionality of the funds, that is to say on those who really want to put themselves on the right path and who are ready to improve their model. “says Guillaume Olivier-Doré.
” Impact Source, alongside the Magellim Group, will make it possible to guarantee the impact of the investments made. An essential fund to move the lines, and favor a lasting impact “, salutes Jean-Marc Borello, Chairman of the Management Board of the SOS Group, while Steven Perron, the Chairman and Founder of the Magellim Group, praises “ a common commitment that aims to encourage all tenants of a model of society more suited to the major challenges of today and tomorrow “.