A 13-million-euro fundraising initiative for LACTIPS, a producer of biodegradable bioplastics advised by LAMY LEXEL
A 13-million-euro fundraising initiative for LACTIPS, a producer of biodegradable bioplastics advised by LAMY LEXEL
Lactips develops innovative processes for manufacturing biodegradable, hydrosoluble and edible material using a milk protein. This solution meets modern environmental and societal needs and could become a leading product for many different packaging applications. This new product has already been tested by major international groups and can be used in numerous ways: in hydrosoluble, protective or food packaging, as well as in the building industry and even to improve the recyclability of some packaging, amongst others.
This industrial project has piqued the interest of two major investment funds: The Investment Fund in Industrial Development Companies (Bpifrance), which supports ecological transformation in France, and Diamond Edge Ventures (Mitsubishi Chemical Holdings Corporation), which drives a financial, industrial and commercial approach (with Japan aiming to recycle 100% of its plastic by 2035).
Against the backdrop of a global pandemic, this fundraising initiative was conducted with Lamy Lexel lawyers specialised in private equity-capital growth operations. Frédéric Dupont (associate lawyer), Anne-Laure Rivat, Édouard de Limairac and Caroline Bravard (lawyers) led the negotiations with the funds, culminating in the injection of capital in the amount of almost 13 million euros earmarked to finance Lactips’ R&D, industrialisation and international growth.
With 20 million euros raised since its establishment, the company now encompasses a set of prestigious shareholders comprised of institutional and financial investors (Bpifrance, Demeter, BNP Paribas Développement, Crédit Agricole Loire Haute-Loire) as well as industrial investors (BASF Venture Capital GbmH, Mitsubishi Chemical Holdings Corporation).
Operational advisor: CleanTech Capital Advisors
Lactips legal counsel: LAMY LEXEL (Frédéric Dupont, Anne-Laure Rivat, Edouard de Limairac, Caroline Bravard)
Bpifrance legal counsel: UGGC (Charles-Emmanuel Prieur, Laura Malach and Rebecca El-Hakim)
DEV legal counsel: ORRICK, HERRINGTON & SUTCLIFFE (Benjamin Cichostepski-Lesage and Rena Kakon)