AGF Private Equity, the private equity arm of AGF Asset Management, is hoping to raise between €60m ($54m) and €70m, by targeting individual investors, for its third Fonds commun de Placement dans l'Innovation.

The fund, to be called AGF Innovation 3, will invest in innovative French companies developing enterprise applications, systems software infrastructures, components and hardware for the telecom and electronics industries. It will also invest in biotech.