Client Testimonial
How Primexis structured and secured Korelya Capital’s fund management (€800M in assets)

To efficiently manage more than €800M in assets invested in European technology startups, Korelya Capital chose Primexis as a trusted partner, who is capable of combining technical expertise, rigorous methodology, and operational assistance.

Faced with scattered information, long processing times, and constantly changing regulations, the management company was looking for solid support to secure its processes, standardize its reporting, and improve its compliance.

Carole Sappia-Bonetti, Chief Financial Officer at Korelya Capital, talks about the collaboration with Primexis based on responsiveness, trust, and an understanding of private equity challenges.

Could you present Korelya Capital?

Carole Sappia-Bonetti: Korelya Capital is a management company that was founded in 2016 by Fleur Pellerin, former Minister of Innovation and the Digital Economy, and is dedicated to investing in high-potential European technology startups.

Korelya manages more than €800M in assets through multiple funds that assist their participants in international expansion thanks to networks and with the team’s previous connections with Asia, and in particular, South Korea. Located in Paris, London, Seoul, and Singapore, Korelya Capital aims to help European tech champions emerge on the global stage.

As the CFO, what are the major priorities and challenges that you face in managing your private equity funds?

Carole Sappia-Bonetti: Our priorities focus on three areas: guaranteeing the reliability of financial data, constantly anticipating regulatory developments, and meeting the ever-increasing demands of our investors. Added to this is the urgent need for efficiency, which means providing accurate information at the right time to allow teams to make the best decisions.

Before working with Primexis, what were the specific difficulties related to the administrative and financial management of your funds that prompted you to seek out a specialized partner?

Carole Sappia-Bonetti: Before Primexis’ involvement, we were facing a lack of responsiveness and information scattered between many departments of the same service provider. Cross-checking data took a considerable amount of time, and processing times were too long to support our business.

We were looking for a partner who could help us structure our processes, ensure smooth coordination, and deliver standardized, reliable, and immediately ready reporting.

How has Primexis’ valuation expertise helped optimize the structure of your funds and add value to your operations? Could you give us a concrete example?

Carole Sappia-Bonetti: Primexis has brought us an expert perspective based on the market’s best practices (IPEV, Invest Europe, and ILPA). Their recommendations helped us secure our methodologies, increase transparency, and standardize our internal processes.

This translates, for example, into stronger analyses during quarterly valuation reviews and an increased ability to document our work to our investors and auditors.

Beyond simple regulation compliance, what concrete benefits has Primexis’ approach brought you in terms of the accounting and administrative management of your funds?

Carole Sappia-Bonetti: In addition to strict compliance, Primexis provides us with a real management approach. Their teams help us standardize our reporting, streamline interactions with auditors, and improve the reliability of our data.

We increased agility, efficiency, and above all, serenity. Their partner-based approach makes Primexis a genuine extension of our finance department.

Did you benefit from advice and proactive support from Primexis’ teams? Could you give us an example?

Carole Sappia-Bonetti: Yes, regularly. As soon as regulation changes, they alert us before we have time to address it.

A good example is the entry into force of the new regulation on October 1, 2023, which represented a major undertaking for all management companies. Primexis assisted us from the outset: carrying out a detailed analysis of the differences between the old ANC (French Accounting Standards Authority) regulations, updating the fund’s chart of accounts, and adapting our reporting models and regulatory appendices. Their proactivity was invaluable and very reassuring.

Would you recommend Primexis to other players in the fund management sector? What would be the main advantages that you would highlight?

Carole Sappia-Bonetti: Absolutely. Their thorough understanding of fund structures combined with their responsiveness and technical rigor, makes them a trusted partner. You can tell that they have a firm grasp of their profession and its specific challenges.

Primexis client: Korelya Capital | Assets under management: +800 M€ | Establishments: Paris, London, Seoul, Singapore

Project challenges: Revising and improving accounting and administrative process structuring, securing valuation methodologies, regulatory compliance (IPEV, Invest Europe, and ILPA), and standardizing reporting

Sector: Private equity / investment in European technology startups

Primexis’ approach is based on 3 pillars:

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