NovEss
NovESS is a €100M French impact investment fund launched in 2016 by Banque des Territoires and managed by Mandarine Gestion with INCO, deploying equity and quasi-equity capital into Social and Solidarity Economy enterprises across acceleration and scale-up stages, and measuring impact via the MESIS framework.
- Company typePrivate
- Founded2016
- Headquarters—
- Headcount—
- GTM typeB2B
- OfferingServices
What NovEss does
NovESS – Le Fonds ESS is a French private impact investment fund launched on 28 June 2016 to finance the scaling of Social and Solidarity Economy (ESS) enterprises in France. The fund was initiated by Banque des Territoires (a Caisse des Dépôts affiliate) with a €100 million capital base, assembled through a club-deal structure that brings together institutional insurers (BNP Paribas, CNP Assurances, Crédit Coopératif, BNP Paribas Cardif), public pension and mutuals (Ircantec, MNT, UMR, ERAFP), and other co-investors. Mandarine Gestion acts as the asset manager and INCO as the strategic partner for deal origination and impact methodology.
NovESS deploys capital via equity and quasi-equity instruments (ordinary shares, associative securities, participating securities, participating loans, convertible bonds) targeting two segments: acceleration-phase ESS companies aged 3+ years seeking €100K–€500K, and scale-up-phase ESS companies aged 6+ years seeking €1M–€5M. The "MESIS" social-impact measurement framework, built on BNP Paribas's impact methodology and INCO's Comptoir de l'Innovation approach, evaluates investments against transversal (e.g., employment) and sector-specific indicators and is positioned to become the industry's standard methodology in France. The fund's allocation mandate is 85% to ESS-law structures and 15% to Article 2 social-utility companies.
The go-to-market is field-driven: a club-deal origination model allows co-investors to participate in deal flow, complemented by reinforced post-investment accompaniment including peer entrepreneur coaching. The fund operates exclusively in France, with over 40 disclosed portfolio companies spanning renewable energy (Enercoop), food waste valorization (Moulinot, GECCO), short-circuit food (Kelbongoo, Rutabago), social real estate (ETIC, WIKIVILLAGE), adapted employment (Saprena, Séquences Clés Productions), digital accessibility (LearnEnjoy), telecommunications (Scopelec), fair trade (Ethiquable) and tourism (Odesia Vacances).
NovEss firmographics
Firmographics- Name
- NovEss
- Legal name
- NovESS - Le Fonds ESS
- Website
- https://novess.fr
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Short description
- NovESS is a €100M French impact investment fund launched in 2016 by Banque des Territoires and managed by Mandarine Gestion with INCO, deploying equity and quasi-equity capital into Social and Solidarity Economy enterprises across acceleration and scale-up stages, and measuring impact via the MESIS framework.
- Ownership category
- akta.pro rank
NovEss industry classification
Industry- Product category
- Impact Investing
- NAICS
- Other Financial Investment Activities (5239)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)
Keywords
NovEss business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Equity and Quasi-Equity Investment Returns: NovESS generates returns through equity investments, participating securities, participating loans, and convertible bonds in ESS companies. The fund invests in balance sheet strengthening to improve financial solidity and fund development of social enterprises.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Acceleration Phase Investment |
| Other | Multi-year contract | Scale-up Phase Investment |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
NovEss product offering
Product offeringCore offering
NovESS is an impact investment fund that provides equity and quasi-equity financing (ordinary shares, participative securities, participating loans, and convertible bonds) to Social and Solidarity Economy (ESS) companies in France. The fund deploys capital through two ticket sizes — €100K–€500K for acceleration-phase companies (3+ years old) and €1M–€5M for scale-up-phase companies (6+ years old) — and supplements capital with reinforced support, peer coaching, and proprietary MESIS social impact measurement.
Product overview
NovEss is a social impact investment fund dedicated to financing and supporting the scaling of Social and Solidarity Economy (ESS) enterprises in France. The fund offers quasi-equity and equity financing instruments (actions, titres associatifs, titres participatifs, prêts participatifs, obligations convertibles) and utilizes the MESIS impact measurement tool to evaluate social outcomes. NovEss does not operate a unified technology product or platform—it functions as a fund manager providing capital and monitoring impact rather than delivering software products or modules.
Differentiator
Problem solved
Functional benefit
Products and services
- Acceleration Phase Investment Equity and quasi-equity investment tickets of €100,000 to €500,000 for innovative French Social and Solidarity Economy (ESS) companies with at least 3 years of operation, positive outlook, and acceleration needs. Deployed through shares, participative securities, participating loans, and convertible bonds, combined with reinforced accompaniment and peer-entrepreneur coaching.
- Scale-up Phase Investment
Quantifiable outcome
- 440,000 new jobs created in ESS sector over 10 years
- +1 more outcomes
Companies that use NovEss
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles3 records
NovEss technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
NovEss partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- ANRUcorePartnered with NovESS and ETIC to support WIKIVILLAGE, an innovative high social and environmental quality building project in Paris, as part of PIA 'Ville durable et solidaire'.
- ETICcoreCo-shareholder with NovESS in WIKIVILLAGE project. ETIC creates, finances and manages high social and environmental quality office and commercial spaces.
- INCOcoreStrategic partner specializing in social and solidarity economy. INCO mobilizes over €100 million in venture capital and development capital for green and social startups. Provides MESIS methodology and supports fund's social impact measurement.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
NovEss competitors and assessment
Company assessmentDirect peers
- France Active: National network financing French social enterprises and ESS structures; co-invested alongside NovESS in Moulinot (2022). Highly comparable as a patient-capital provider to French social-purpose companies.
- MAIF Impact: Impact investment vehicle of MAIF insurance group focused on social/societal/environmental missions; co-invested with NovESS in Kelbongoo and Moulinot. Closely comparable in mandate and ticket range.
- INCO: Strategic partner of NovESS and a direct comparable — INCO is a French impact venture builder that mobilizes €100M+ in capital for green and social startups, with overlapping ESS focus and co-investment activity alongside NovESS.
- Aviva Impact Investing France: Dedicated impact fund within Aviva France targeting social and environmental enterprises; historical investor in Kelbongoo alongside NovESS. Directly comparable impact thesis and ticket size.
- Phitrust Partenaires Europe: French impact fund manager supporting entrepreneurs addressing social/environmental issues; co-invested alongside NovESS in Kelbongoo (€2M, 2021). Operates a similar ticket size and impact thesis in France.
Broad incumbents
- Mirova Natural Capital: Affiliate of Natixis Investment Managers dedicated to sustainable/impact investing across multiple strategies (energy transition, inclusive economy, natural capital). Larger, more diversified impact platform with overlapping inclusive-economy exposure.
- BNP Paribas Asset Management: Large European asset manager with dedicated ESG/solidarity funds; co-investor in Moulinot. Partner via MESIS methodology development; broader incumbent offering public-market impact vehicles alongside private placements.
- Tikehau Capital: European alternative asset manager with dedicated impact and private debt strategies, including French social-inclusion themes. Broader incumbent with portfolio overlap in ESS-adjacent sectors.
- Crédit Coopératif: French cooperative bank serving ESS and social economy; NovESS co-investor. Functions as both financing partner and a comparable impact-aligned capital provider to French social enterprises.
Emerging players
- Investisseurs & Partenaires (I&P): Impact investor focused on African SMEs with social mission; comparable patient-capital, quasi-equity approach to high-impact enterprises, though geographically focused on emerging markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
NovEss social profiles
Digital presenceNovEss financial estimates
Financial estimateRevenue estimate
Valuation estimate
NovEss leadership team
Management profileNumber of profiles
Profiles1 record
NovEss funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NovEss M&A and investment
M&A and investmentM&A
Investments5 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NovEss
What does NovEss do?
NovESS is an impact investment fund that provides equity and quasi-equity financing (ordinary shares, participative securities, participating loans, and convertible bonds) to Social and Solidarity Economy (ESS) companies in France. The fund deploys capital through two ticket sizes — €100K–€500K for acceleration-phase companies (3+ years old) and €1M–€5M for scale-up-phase companies (6+ years old) — and supplements capital with reinforced support, peer coaching, and proprietary MESIS social impact measurement.
Is NovEss a public or private company?
NovEss is a private company. It is classified as state government owned and is currently operating.
When was NovEss founded?
NovEss was founded in 2016.
How does NovEss make money?
One revenue line is on record: equity and Quasi-Equity Investment Returns.
Who are NovEss's main competitors?
Direct peers on record are France Active, MAIF Impact, INCO, Aviva Impact Investing France and Phitrust Partenaires Europe. Broad incumbents are Mirova Natural Capital, BNP Paribas Asset Management, Tikehau Capital and Crédit Coopératif. Investisseurs & Partenaires (I&P) is listed as an emerging player.
Does NovEss have an API?
No public API is recorded for NovEss.
What industry is NovEss in?
NovEss's product category is Impact Investing. Its primary akta.pro industry code is BPAGALAA, Impact Investing & Social Finance (Funds, CDFIs, Microfinance). Its NAICS code is 5239 and its SIC code is 6282.