Firms

NACO

Bordeaux, France · Nouvelle-Aquitaine, France

NACO is Nouvelle-Aquitaine Co-Investissement, a separate French single-shareholder regional investment company (SASU), SIREN824626675 and LEI969500WYDW8OHY35DX25. Legally incorporated in December2016 and launched in2017, it is financed and owned by Région Nouvelle-Aquitaine. It makes evergreen pari-passu equity and quasi-equity co-investments alongside private investors in regional startups and SMEs, from early venture through growth, transformation and business transmission. It supports technological and industrial innovation, healthcare and regional social/environmental transitions; its actual neuroscience investment in precision-neurosurgery company RebrAIn is explicitly identified in the March18,2024 financing announcement. M Capital Partners has advised deployment since September2022; the11 named deployment professionals on NACO’s current site are qualified as shared M Capital staff rather than assumed legal-vehicle employees. NACO’s president Jean-Pierre Renaudin is separately documented in its June18,2025 statement. The current site describes a EUR102M programme envelope, while the dated2025 statement calls95M assets under management; neither is imported as an LP fund close or actual portfolio ticket. Historic corporate capital increases and REACT-EU repayable advances are distinct from LP fund subscriptions and individual company equity allocations. Headquarters is24rueVitalCarles, Bordeaux. Its legal identity and investment relationships are kept separate from the regulated advisory manager and unrelated similarly named organisations.

Founded: 2017
Type: Venture capital