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Alter Equity

Alter Equity

PARIS, France·Founded 2009··alter-equity.com

Alter Equity is a Paris-based private equity firm founded in 2009 that invests in European companies addressing major social and environmental challenges. It manages over €235 million, focusing on companies with revenues above €1 million and strong growth potential, requiring portfolio companies to implement ESG business plans.

AUM
€270M
Funds
3
vintages 2015–2023
Portfolio
17
Exits
11

Key facts

HQPARIS, France
Founded2009

Recent exits

Ilek
Ilek
Energy2026 · 5yr hold
Behring
Behring
Industrials2025 · 4yr hold
Gojob
Gojob
HR Tech2025 · 5yr hold
Green Creative
Green Creative
Energy2025 · 4yr hold

Coverage notes

3 funds tracked, 28 portfolio companies (17 active · 11 realized). Verified weekly from public filings and deal announcements.

Sector breakdown

28 companies
Energy
7 · 25%
Software
6 · 21%
TMT
4 · 14%
Industrials
3 · 11%
Consumer
3 · 11%
Education
2 · 7%
Aerospace & Defence
1 · 4%
HR Tech
1 · 4%

Funds & portfolio

Every fund Alter Equity has raised, with its portfolio companies. Hand-checked from public filings.

3 funds
Alter Equity 3P IIIGrowth
2023 · 3yr€85M6 active

Unrealized

6 held
Expliseat
ExpliseatActive
Aerospace & DefenceFrance· Entry 2026
MontamoActive
IndustrialsGermany· Entry 2025
ShellworksActive
TMTUK· Entry 2024
Syroco
SyrocoActive
TMTFrance· Entry 2024
teale
tealeActive
TMTFrance· Entry 2023
Zenride
ZenrideActive
SoftwareFrance· Entry 2022
Alter Equity Fund IIGrowth
2020 · 6yr€110M9 active · 5 realized

Unrealized

9 held
Beem
BeemActive
SoftwareFrance· Entry 2021
circleActive
EducationFrance· Entry 2023
EverySens
EverySensActive
IndustrialsFrance· Entry 2023
EducationUK· Entry 2017
Imparfaite
ImparfaiteActive
ConsumerFrance· Entry 2022
Kipli
KipliActive
ConsumerFrance· Entry 2019
MiiMOSA
MiiMOSAActive
SoftwareFrance· Entry 2019
Murfy
MurfyActive
SoftwareFrance· Entry 2021
Neobrain
NeobrainActive
TMTFrance· Entry 2021

Realized

5 exits
Behring
BehringExited 2025
IndustrialsSpain· Entry 2021
Trade Saleto
EnviriaExited 2024
EnergyFrance· Entry 2021
Secondaryto
Gojob
GojobExited 2025
HR TechFrance· Entry 2020
Trade Saleto
Green Creative
Green CreativeExited 2025
EnergyFrance· Entry 2021
Secondaryto
Ilek
IlekExited 2026
EnergyFrance· Entry 2021
Trade Saleto
Alter Equity Fund IGrowth
2015 · 11yr€30M2 active · 6 realized

Unrealized

2 held
Elum EnergyActive
EnergyFrance· Entry 2017
Les Ripeurs
Les RipeursActive
ConsumerFrance· Entry 2019

Realized

6 exits
Boho Green
Boho GreenExited 2019
EnergyFrance· Entry 2015
Trade Saleto
EficiaExited 2023
EnergyFrance· Entry 2016
Trade Saleto
InnovafeedExited 2023
AgricultureFrance· Entry 2017
Secondaryto
NED Energie
NED EnergieExited 2022
EnergyFrance· Entry 2016
Trade Saleto
OpenAirlines
OpenAirlinesExited 2024
SoftwareFrance· Entry 2015
Secondaryto
Wild Code SchoolExited 2025
SoftwareFrance· Entry 2018
Trade Saleto
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About Alter Equity

Alter Equity is a Paris-based private equity firm with over €270 million of assets under management as of December 2024, founded in 2009 and dedicated to investing in European companies addressing major social and environmental challenges. The firm focuses on companies with revenues above €1 million and strong growth potential, with the impact investing mandate distinguishing Alter Equity from generalist mid-cap peers.

Investment thesis

Alter Equity targets European impact-aligned companies addressing climate, social inclusion, sustainable food, healthcare access and environmental themes. Equity ticket sizes typically range from €3 million to €15 million per transaction across growth equity and selective buyout positions. The impact mandate requires demonstrable social or environmental outcomes alongside commercial financial return discipline, with the platform's multi-vintage track record positioning Alter Equity as one of the longer-tenure European impact investors.

Recent activity

Recent realised exits include Behring (industrials, 2025), Gojob (business services, 2025), Green Creative (energy, 2025) and Enviria (energy, 2024), reflecting active distribution across the impact-aligned portfolio. The platform tracks 3 funds, 19 active portfolio companies and 9 realised exits across the multi-vintage European impact programme. Detailed buyer names and multiple data available on Pro at €29/month.

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Last updated June 2026 · Sourced from public filings · Report an issue