The venture arm of ABN AMRO Capital France has merged with XAnge Capital, the private equity business of La Poste, the French state-owned post office.
The merger will leave XAnge controlling the portfolio, less than 15 months after it was set up by La Poste subsidiary Sofipost. ABN AMRO will retain a 33% interest.
XAnge has three companies on its books at present and the joint venture with ABN AMRO will see this swell to almost 30.
La Poste is a 34% shareholder in XAnge, with the balance split between AGF, state-owned bank Caisse des Depots et Consignations, state-controlled insurer CNP Assurances, Deloitte, GMF, LaSer-Cofinoga and Neopost.