Information on the target
Elevation Capital Partners, through the FIP Outre-mer Inter Invest n°5, is participating in the financing of a crucial link in Polynesian maritime transport: the Dory 2. This freight and passenger vessel, set to service five isolated atolls in the Tuamotu archipelago, is scheduled to commence operations in August 2026. The investment is directed towards SAS Agnieray & Cie, a subsidiary of the Polynesian group Degage, and aligns with the fund's strategy to support the real economy of overseas territories.
The Dory 2 is set to replace the original Dory, which has been in service since 1976. This modern vessel, measuring 70 meters in length—24 meters longer than its predecessor—boasts unprecedented logistical capabilities, including a freight capacity of 1,000 tons and a 494 m² deck designed for heavy vehicles and equipment. In addition to its technical specifications, the Dory 2 promises an enhanced travel experience for its 140 passengers, featuring premium amenities such as business-class seating, a restaurant on the aft deck, and a cinema.
Industry overview in the target’s specific country
The Marine Passenger Transportation industry in French Polynesia plays a vital role in connecting the numerous islands and atolls that comprise the region. Given the geographical dispersion of the islands, maritime transport is often the only feasible means of travel and goods transportation, making it essential for both residents and tourists. The industry has seen a growing demand for modern vessels that can accommodate the needs of passengers while also ensuring efficient freight services.
In recent years, the government of French Polynesia has recognized the importance of upgrading its maritime fleet to enhance connectivity and support local economies. Investments in new vessels like the Dory 2 are part of a broader strategy to improve transportation infrastructure, which is crucial for the development of tourism, agriculture, and local crafts. The modernization of the fleet not only improves service quality but also contributes to the sustainability of the marine environment.
The Marine Passenger Transportation sector is also influenced by the increasing number of tourists visiting French Polynesia, drawn by its stunning landscapes and rich culture. As tourism continues to grow, the demand for reliable and comfortable transportation options will likely increase, prompting further investments in the industry. The introduction of vessels like the Dory 2, which combines freight and passenger services, exemplifies the industry's response to these evolving needs.
Moreover, the economic impact of the Marine Passenger Transportation industry extends beyond mere connectivity. It plays a significant role in supporting local businesses, including pearl farming, fishing, and agricultu…