FCPI and FIP funds: investment quota in eligible SMEs raised from 60% to 70%

Article 18 of the 2013 Amending Finance Act raised from 60% to 70% the share of the assets of innovation mutual funds (FCPI) and local investment funds (FIP) that must be invested in eligible companies, for funds set up from 1 January 2014. The deadline for reaching the quota was extended: 50% no later than eight months after the close of the subscription period, then 100% of the quota by the last day of the fifteenth month, with the subscription period limited to fourteen months. The same 70% threshold applies to the income tax ('Madelin') and wealth tax reductions linked to these funds. The measure came from a Government amendment.