Andera Partners
AUM
€5.3B
Funds
26
vintages 2005–2026
Portfolio
123
Exits
188
Andera Partners is a Paris private equity firm with €5.3B AUM, 123 active companies and 188 exits.
Key takeaways
- ·67 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 142 realized deals: 5 years.
- ·Best return: 12.0x MOIC on Flex Composite Group (2023).
- ·Fund cadence: ~1Y between vintages · last raise 2026.
Sector breakdown
311 companiesBiotech
49 · 16%
MedTech
29 · 9%
Business Services
29 · 9%
TMT
25 · 8%
Consumer
23 · 7%
Construction
20 · 6%
Industrials
18 · 6%
Financials
14 · 5%
Geography breakdown
11 geographiesFrance
277 · 89%
US
9 · 3%
Belgium
7 · 2%
UK
6 · 2%
Switzerland
3 · 1%
Spain
2 · 1%
Germany
2 · 1%
Canada
1 · 0%
Key facts
HQParis, France
Websiteanderapartners.com
Recent exits
Andera Partners sold Ingenostrum to IREN in 2026 after 3 years.
Andera Partners sold Tubulis to Gilead Sciences in 2026 after 4 years.
Andera Partners took AgoMab public in 2026 after 7 years.
Andera Partners took Avalyn Pharma public in 2026 after 9 years.
Coverage notes
26 funds tracked, 311 portfolio companies (123 active · 188 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Andera Partners has raised, with its portfolio companies. Hand-checked from public filings.
26 funds
Fund
Strategy
Vintage
Size
Assets
Exits
Andera Expansion IVGrowth2026€430M2 assetsGrowth2026 · 0yr€430M2–
Unrealized
2 held| Company | Entry |
|---|---|
| Sabena Aerospace Belgium | 2026 |
| Solive France | 2025 |
Andera Croissance 2Growth20251 assetsGrowth2025 · 1yr–1–
Unrealized
1 held| Company | Entry |
|---|---|
| Numans Financials · France | 2025 |
Andera MidCap 6Buyout20253 assetsBuyout2025 · 1yr–3–
Unrealized
3 held| Company | Entry |
|---|---|
| Adler Ortho MedTech · France | 2025 |
| Ayming Business Services · France | 2025 |
| Jaws Group TMT · France | 2025 |
BioDiscovery 7VC2025€500M8 assetsVC2025 · 1yr€500M8–
Unrealized
8 held| Company | Entry |
|---|---|
| Adcytherix Biotech · France | 2025 |
| Alveus Therapeutics Biotech · France | 2026 |
| Basis | 2026 |
| Bioptimus Biotech · France | 2025 |
| EG 427 Biotech · France | 2025 |
| Rivermark Medical MedTech · US | 2026 |
| Spiro Medical MedTech · France | 2026 |
| Splashr TMT · France | 2025 |
Acto VMezzanine2024€1.1B8 assetsMezzanine2024 · 2yr€1.1B8–
Unrealized
8 held| Company | Entry |
|---|---|
| CDS Group Logistics · France | 2025 |
| exceet Card Group TMT · France | 2026 |
| Groupe ADF Construction · France | 2024 |
| Groupe IEF2I Education · France | 2024 |
| Plasseraud IP France | 2026 |
| Sagitta Pharma Pharma · France | 2025 |
| Spartes Business Services · France | 2025 |
| Xelians Business Services · France | 2025 |
Terra NeaInfrastructure2023€45M4 assetsInfrastructure2023 · 3yr€45M4–
Unrealized
4 held| Company | Entry |
|---|---|
| Ensol ClimateTech · France | 2025 |
| Les Alchimistes Côte d’Azur Industrials · France | 2024 |
| Qualisteo ClimateTech · France | 2023 |
| SerenySun Invest ClimateTech · France | 2024 |
Andera Smart Infra 1Infrastructure2022€233M9 assets2 exitsInfrastructure2022 · 4yr€233M92
Unrealized
9 held| Company | Entry |
|---|---|
| Etherr.a Belgium | 2025 |
| Hydr.A ClimateTech · France | 2024 |
| Inthy Logistics · France | 2024 |
| Kyotherm ClimateTech · France | 2022 |
| Lhyfe ClimateTech · France | 2022 |
| mylight150 ClimateTech · France | 2023 |
| Qovoltis ClimateTech · France | 2022 |
| Skysun ClimateTech · France | 2024 |
| Watt & Co Group ClimateTech · France | 2021 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Ingenostrum ClimateTech · Spain | 2023 | 2026 | Trade Sale | IREN | – |
| Terr.A ClimateTech · France | 2022 | 2025 | Recapitalization | Ether Energy; combined company named Etherr.a | – |
BioDiscovery 6VC2022€456M10 assets4 exitsVC2022 · 4yr€456M104
Unrealized
10 held| Company | Entry |
|---|---|
| Abivax Biotech · France | 2023 |
| Ariceum Biotech · France | 2023 |
| BioVentrix MedTech · France | 2023 |
| Dualyx Biotech · France | 2023 |
| Fire 1 MedTech · France | 2023 |
| Inventiva Biotech · France | 2024 |
| Mineralys Therapeutics Biotech · France | 2022 |
| Nouscom Biotech · US | 2023 |
| SciRhom Biotech · France | 2024 |
| Targed Biotech · France | 2022 |
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Imcheck Biotech · France | 2022 | 2025 | Trade Sale | Ipsen | – |
| Kestra Medical Technologies MedTech · US | 2024 | 2025 | IPO | – | – |
| SoniVie MedTech · France | 2023 | 2025 | Trade Sale | Boston Scientific | – |
| Tubulis Biotech · France | 2022 | 2026 | Trade Sale | Gilead Sciences | – |
Andera Expansion 3HarvestingGrowth2021€250M8 assets3 exitsGrowth2021 · 5yr€250M83
Unrealized
8 held| Company | Entry |
|---|---|
| CTP Environnement Industrials · France | 2024 |
| ElaN Languages TMT · France | 2022 |
| Groupe Pégase Education · France | 2022 |
| Kepler Business Services · France | 2023 |
| MC2 Technologies TMT · France | 2021 |
| Meogroup Business Services · France | 2024 |
| PM Studio Consumer · France | 2024 |
| Spengler Group MedTech · France | 2021 |
Realized
3 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Artemys TMT · France | – | 2025 | Trade Sale | SPIE Group (SPIE ICS) | – |
| Immo City Real Estate · France | 2021 | 2025 | Recapitalization | Homeland; combined company named Solive | – |
| Patrimmofi Financials · France | 2021 | 2025 | Trade Sale | Groupe VYV | – |
Andera MidCap 5HarvestingBuyout2021€750M13 assetsBuyout2021 · 5yr€750M13–
Unrealized
13 held| Company | Entry |
|---|---|
| “Pôle Fine Art” Horus Finance Real Estate · France | 2024 |
| Averna Canada | 2025 |
| Groupe ERI Construction · France | 2022 |
| Infra Group Energy · France | 2023 |
| Klubb Group Construction · France | 2021 |
| Mistertemp’ group HR Tech · France | 2024 |
| Pauwels Consulting Business Services · Belgium | 2023 |
| Résonance Imagerie Group Healthcare · France | 2022 |
| Senstronic TMT · France | 2022 |
| Skill & You Education · France | 2021 |
| Spengler MedTech · France | 2021 |
| Tecnikabel Industrials · Italy | 2024 |
| Telecom Design Telecom · France | 2022 |
Acto Mezzanine IVHarvestingMezzanine2020€500M21 assets9 exitsMezzanine2020 · 6yr€500M219
Unrealized
21 held| Company | Entry |
|---|---|
| Auris Financials · France | 2023 |
| Biolam Healthcare · France | 2022 |
| ECF SPS Education · France | 2023 |
| Efor Business Services · France | 2023 |
| Eleven Strategy Business Services · France | 2022 |
| Enaco Education · France | 2021 |
| Finalease Group Security Business Services · France | 2021 |
| Groupe Gosto Consumer · France | 2023 |
| Groupe Ozitem TMT · France | 2022 |
| Groupe Unaferm Construction · France | 2022 |
| Heritage Consumer · France | 2021 |
| Imagerie Cardinet Healthcare · France | 2023 |
| Legal2digital LegalTech · France | 2020 |
| NG Travel Hospitality · France | 2023 |
| OneXillium TMT · France | 2023 |
| Passman Telecom · France | 2023 |
| Renaud Distribution Consumer · France | 2022 |
| Sanso Longchamp Financials · France | 2023 |
| Sogetrel Telecom · France | 2021 |
| Synacktiv TMT · France | 2021 |
| TBS Group SaaS · France | 2022 |
Realized
9 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| BEA Group Financials · France | 2022 | 2024 | Trade Sale | PIB Group | – |
| DP Logiciels TMT · France | 2021 | 2022 | Trade Sale | Septeo | – |
| Factoria TMT · France | 2020 | 2022 | Trade Sale | – | – |
| Groupe Physitek Industrials · France | 2021 | 2023 | Trade Sale | UI Investissement | – |
| Naitways Telecom · France | 2022 | 2025 | Trade Sale | Jiliti Group | – |
| Prenax – LM TMT · France | 2020 | 2022 | Secondary | Triton | – |
| Redslim TMT · France | 2023 | 2024 | Trade Sale | Astorg | – |
| Sfeir IT Services · France | 2020 | 2022 | Trade Sale | Keensight Capital | – |
| Tiepolo Financials · France | 2021 | 2022 | Trade Sale | J. de Demandolx Gestion | – |
Cabestan CroissanceHarvestingGrowth2020€80M2 assets2 exitsGrowth2020 · 6yr€80M22
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Forex Finance Financials · France | 2020 | 2024 | Secondary | UI Investissement + Bpifrance | – |
| Sirsa Software · France | 2020 | 2022 | Trade Sale | Cority | – |
Winch Capital 4HarvestingBuyout2018€445M6 assets4 exitsBuyout2018 · 8yr€445M64
Unrealized
6 held| Company | Entry |
|---|---|
| Auxiga Financials · France | 2019 |
| Auxiga Group Business Services · France | 2019 |
| Orbility Business Services · France | 2018 |
| Pusterla 1880 Consumer · France | 2020 |
| Telamon Real Estate · France | 2020 |
| Verbraeken-Infra Construction · Belgium | 2019 |
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| HR Path HR Tech · France | 2019 | 2024 | Secondary | Ardian | – |
| Mastergrid Energy · France | 2019 | 2025 | Secondary | Ardian | – |
| Skill & You Education · France | 2018 | 2021 | Trade Sale | IK Partners | – |
| Spherea Aerospace & Defence · France | 2019 | 2025 | Continuation Vehicle | Andera-managed continuation vehicle; Ardian as lead investor | – |
Acto Mezzanine IIIRealizedMezzanine2017€315M3 assets13 exitsMezzanine2017 · 9yr€315M313
Unrealized
3 held| Company | Entry |
|---|---|
| Ellisphere Data & Analytics · France | 2019 |
| Opportunity AdTech · France | 2019 |
| Solware TMT · UK | 2018 |
Realized
13 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Bioclinic Healthcare · France | 2018 | 2022 | Trade Sale | Inovie | – |
| Biogroup-LCD Healthcare · France | 2018 | 2021 | Recapitalization | – | – |
| Groupe 3S Logistics · France | 2017 | 2022 | Trade Sale | – | – |
| Groupe Walor International Mobility · France | 2017 | – | Trade Sale | – | – |
| Joryf Real Estate · France | 2018 | 2021 | Recapitalization | – | – |
| Lease Protect TMT · France | 2019 | 2021 | Trade Sale | – | – |
| Passman Telecom · France | 2019 | 2023 | Secondary | Siparex ETI | – |
| Philogeris Healthcare · France | 2017 | – | Trade Sale | Groupe Bridge | – |
| Prenax Business Services · France | 2018 | 2020 | Secondary | LBO France | – |
| Sylpa Energy · France | 2019 | 2022 | Trade Sale | Groupe Fauché | – |
| TimeOne AdTech · France | 2017 | 2021 | Trade Sale | La Poste Group / ISOSKELE | – |
| Tournus Equipement Industrials · France | 2019 | 2022 | Trade Sale | Naxicap Partners | – |
| Travelsoft TMT · France | 2019 | 2023 | Trade Sale | Capza | – |
BioDiscovery 5RealizedVC2017€345M15 assets9 exitsVC2017 · 9yr€345M159
Unrealized
15 held| Company | Entry |
|---|---|
| AM Pharma Biotech · Netherlands | 2019 |
| Artios Pharma Biotech · UK | 2018 |
| Crescendo Biologics Biotech · UK | 2018 |
| Enyo Pharma Biotech · France | 2018 |
| Erytech Biotech · France | 2017 |
| Exciva Biotech · US | 2019 |
| Flamingo Therapeutics Biotech · US | 2018 |
| GreyWolf Therapeutics Biotech · UK | 2018 |
| Highlife Medical MedTech · France | 2018 |
| LogicBio Biotech · France | 2017 |
| Medical Micro Instruments MedTech · Switzerland | 2018 |
| MedLumics MedTech · France | 2017 |
| Nyxoah MedTech · Belgium | 2020 |
| T-Knife Biotech · Germany | 2018 |
| Tricares MedTech · France | 2018 |
Realized
9 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| AgoMab Biotech · France | 2019 | 2026 | IPO | Public market (Nasdaq IPO ticker AGMB) | – |
| Amolyt Pharma Biotech · France | 2021 | 2024 | Trade Sale | AstraZeneca | – |
| Arvelle Biotech · Switzerland | 2019 | 2021 | Trade Sale | Angelini Pharma | – |
| Atlantic Therapeutics MedTech · Ireland | 2018 | 2023 | Trade Sale | Caldera Medical | – |
| Avalyn Pharma Biotech · France | 2017 | 2026 | IPO | Public market (Nasdaq IPO ticker AVLN) | – |
| Complexa Biotech · France | 2017 | – | Trade Sale | Mallinckrodt | – |
| Corvidia Therapeutics Biotech · US | 2018 | 2020 | Trade Sale | Novo Nordisk | – |
| Evommune Biotech · France | 2021 | 2025 | IPO | Public market (NYSE IPO ticker EVMN) | – |
| PegaOne Biotech · France | 2019 | 2021 | Trade Sale | Centessa Pharmaceuticals | – |
Cabestan Capital 2RealizedGrowth2016€170M4 assets15 exitsGrowth2016 · 10yr€170M415
Unrealized
4 held| Company | Entry |
|---|---|
| 99 Group Business Services · France | 2019 |
| Groupe Novetio Real Estate · France | 2020 |
| Olaqin HealthTech · France | 2019 |
| Studia Software · France | 2017 |
Realized
15 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| ACB Aerospace & Defence · France | 2016 | 2022 | Secondary | Arkéa Capital, BNP Paribas Développement and Société Générale Capital Partenaires | – |
| ADX Groupe Real Estate · France | 2017 | 2023 | Secondary | Crédit Agricole Anjou-Maine and UNEXO | – |
| Finegan Business Services · France | 2019 | 2026 | Trade Sale | Acensi | – |
| Groupe Orest Consumer · France | 2018 | 2023 | Trade Sale | LVMH (via Platinum Invest umbrella) | – |
| Hypérion Développement Real Estate · France | 2017 | 2023 | Trade Sale | Crédit Agricole Anjou-Maine + UNEXO (management retained) | – |
| In’Tech Medical MedTech · France | 2017 | – | Secondary | Montagu Private Equity | – |
| Ipside Business Services · France | 2016 | 2021 | Secondary | Initiative & Finance, Bpifrance, GSO Capital and IDIA Capital Investissement | – |
| Klaxcar Mobility · France | 2017 | – | Trade Sale | – | – |
| La Vie Saine Consumer · France | 2017 | – | Trade Sale | – | – |
| Loyalty Company Business Services · France | 2017 | – | Trade Sale | – | – |
| Moving Hospitality · France | 2017 | 2019 | Secondary | Future French Champions (Bpifrance) | – |
| Octime (2016) HR Tech · France | 2016 | 2020 | Trade Sale | CAPZA | – |
| Octime (2020) Software · France | 2020 | 2024 | Secondary | IK Partners | – |
| Sarawak Business Services · France | 2017 | 2022 | MBO | Management of Sarawak with Indigo Capital | – |
| Travelsoft TMT · France | 2016 | 2023 | Trade Sale | Capza | – |
Winch Capital 3RealizedBuyout2015€300M2 assets12 exitsBuyout2015 · 11yr€300M212
Unrealized
2 held| Company | Entry |
|---|---|
| Platinium Group Telecom · France | 2017 |
| Sapore di Mare Hospitality · France | 2017 |
Realized
12 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Altavia Business Services · France | 2015 | 2023 | Trade Sale | For Talents | – |
| Arcaplanet (Fortesan) Consumer · France | 2016 | 2022 | Trade Sale | Fressnapf Group | – |
| Bacacier Construction · France | 2017 | 2019 | Trade Sale | Kingspan Group | – |
| Exclusive Group TMT · France | 2015 | 2018 | Trade Sale | Permira | – |
| Groupe Globe Consumer · France | 2017 | 2023 | Trade Sale | Hi Inov - Dentressangle | – |
| Groupe Rougnon Construction · France | 2015 | 2019 | Trade Sale | Tikehau Capital | – |
| Minafin Pharma · France | 2017 | 2021 | Secondary | Credit Mutuel Equity and Quilvest Capital Partners | – |
| NetCo Industrials · France | 2016 | 2021 | Secondary | Ardian | – |
| Potel & Chabot Hospitality · France | 2017 | 2023 | Trade Sale | Accor | – |
| Scalian Business Services · France | 2015 | 2019 | Secondary | Cobepa | – |
| SFAM Financials · France | 2016 | 2018 | Secondary | Ardian | – |
| The Reefer Group Logistics · France | 2016 | 2021 | Trade Sale | Hivest Capital Partners | – |
Acto Mezzanine IIRealizedMezzanine2014€209M0 assets12 exitsMezzanine2014 · 12yr€209M012
Realized
12 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| ADF Business Services · France | 2014 | 2018 | Secondary | Abénex | – |
| Axelliance Financials · France | 2015 | 2019 | Trade Sale | ENTORIA | – |
| Document Store Business Services · France | 2015 | – | Trade Sale | Factoria | – |
| Emeraude Industrials · France | 2014 | – | Trade Sale | – | – |
| FH Ortho MedTech · France | 2014 | 2020 | Trade Sale | Olympus | – |
| Furnotel Industrials · France | 2015 | – | Trade Sale | – | – |
| HVJ Mobility · France | 2016 | 2019 | MBO | Marc Laisne and key managers | – |
| La Toulousaine Construction · France | 2016 | 2019 | Trade Sale | – | – |
| MS Vacances Hospitality · France | 2016 | 2019 | Trade Sale | – | – |
| NACC Financials · France | 2015 | 2018 | Trade Sale | B2Holding | – |
| Passman Telecom · France | 2014 | 2019 | Secondary | LBO France | – |
| Sogetrel Telecom · France | 2016 | 2021 | MBO | Management of Sogetrel and an Andera Partners-led consortium | – |
BioDiscovery 4RealizedVC20133 assets9 exitsVC2013 · 13yr–39
Unrealized
3 heldRealized
9 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Autonomic Technologies MedTech · US | 2015 | 2020 | Trade Sale | Unity HA | – |
| Axonics MedTech · US | 2014 | 2019 | IPO | Public market (Nasdaq IPO ticker AXNX) | – |
| CHASE Pharmaceuticals Biotech · US | 2014 | 2016 | Trade Sale | Allergan | – |
| Complix Biotech · Belgium | 2013 | 2017 | Trade Sale | Merck KGaA | – |
| MedDay Pharmaceuticals Biotech · France | 2016 | 2021 | Trade Sale | – | – |
| Oncoethix Biotech · Belgium | 2013 | 2014 | Trade Sale | Merck & Co. | – |
| ReViral Biotech · UK | 2015 | 2022 | Trade Sale | Pfizer | – |
| Sanifit Biotech · Spain | 2015 | 2021 | Trade Sale | Vifor Pharma | – |
| Verona Pharma Biotech · UK | 2016 | 2017 | Trade Sale | – | – |
Winch Capital 2RealizedBuyout2012€250M0 assets9 exitsBuyout2012 · 14yr€250M09
Realized
9 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Atland Real Estate · France | 2014 | 2022 | Trade Sale | Georges Rocchietta | – |
| DEFI Telecom · France | 2012 | – | Trade Sale | – | – |
| Finsecur Industrials · France | 2014 | 2019 | Trade Sale | Maple Armor | – |
| Intescia Telecom · France | 2013 | 2019 | Trade Sale | – | – |
| Maesa Consumer · France | 2014 | 2019 | Secondary | Bain Capital Private Equity | – |
| MCI Business Services · Switzerland | 2013 | 2017 | Trade Sale | EMZ Partners | – |
| Star Service Logistics · France | 2013 | 2019 | MBO | Management of Star Service with SOCADIF Capital Investissement, BNP Paribas Développement, MACSF and Vivalto | – |
| Thomson Video Networks Telecom · France | 2014 | 2016 | Trade Sale | Harmonic | – |
| Turbocoating Aerospace & Defence · France | 2013 | – | Trade Sale | UnitedCoatings Group | – |
Cabestan Capital 1RealizedGrowth20100 assets34 exitsGrowth2010 · 16yr–034
Realized
34 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| A2IA TMT · France | 2014 | 2018 | Trade Sale | Mitek Systems | – |
| ACE Financials · France | 2015 | 2017 | Trade Sale | Compagnie Européenne de Crédit | – |
| Alouette Consumer · France | 2012 | – | Trade Sale | – | – |
| Archiveco Business Services · France | 2010 | – | Trade Sale | – | – |
| Au Forum Du Bâtiment Construction · France | 2011 | 2020 | Trade Sale | Würth Group | – |
| CertiNergy ClimateTech · France | 2009 | 2019 | Trade Sale | ENGIE | – |
| Cetal Industrials · France | 2011 | – | Trade Sale | NIBE Industrier AB | – |
| Chabé Logistics · France | 2011 | 2019 | MBO | Guillaume Connan and Essling Capital | – |
| CMP Consumer · France | 2011 | – | Trade Sale | – | – |
| EPSA Business Services · France | 2013 | 2018 | Trade Sale | Raise Investissement | – |
| Erget Groupe Business Services · France | 2015 | 2019 | MBO | Ludovic Redier and management | – |
| Europ’Net Business Services · France | 2014 | – | MBO | Management | – |
| Exclusive Networks TMT · France | 2010 | 2015 | Secondary | Cobepa | – |
| Financière Goa Consumer · France | 2009 | – | Trade Sale | – | – |
| Flex Composite Group Industrials · France | 2015 | 2023 | Trade Sale | Michelin (Groupe Michelin) | 12.0x |
| Geotec Construction · France | 2010 | – | Trade Sale | – | – |
| Gris Découpage Industrials · France | 2014 | 2018 | Secondary | Société Générale Capital Partners and BNP Développement | – |
| GVA Peltier Consumer · France | 2008 | – | Trade Sale | – | – |
| HTI Construction · France | 2013 | – | Trade Sale | – | – |
| Itesa TMT · France | 2012 | 2017 | Trade Sale | Crédit Mutuel Equity | – |
| L’Arbre Vert Consumer · France | 2011 | – | Trade Sale | Werner & Mertz | – |
| Maesa Consumer · France | 2011 | – | Trade Sale | Bain Capital | – |
| Marco Polo Production Telecom · France | 2010 | – | Trade Sale | BELLAFAM | – |
| Marietton Hospitality · France | 2012 | 2018 | Secondary | Certares-led consortium | – |
| Ocean TMT · France | 2010 | – | Trade Sale | Orange Business Services | – |
| Pennel & Flipo Industrials · France | 2015 | – | Trade Sale | Michelin | – |
| Philia Medical Editions Healthcare · France | 2012 | – | Trade Sale | – | – |
| ProwebCE E-commerce · France | 2012 | 2015 | Trade Sale | Edenred | – |
| Prozone Telecom · France | 2013 | 2015 | Trade Sale | STATS LLC | – |
| Realease Financials · France | 2015 | 2018 | Secondary | Weinberg Capital Partners | – |
| Smile IT Services · France | 2013 | 2017 | Trade Sale | Keensight Capital | – |
| Snadec Construction · France | 2011 | 2019 | Secondary | LFPI Gestion | – |
| Soft Company TMT · France | 2010 | 2023 | Trade Sale | – | – |
| Volta Croissance Construction · France | 2013 | 2022 | Trade Sale | – | – |
BioDiscovery 3RealizedVC20091 assets9 exitsVC2009 · 17yr–19
Unrealized
1 held| Company | Entry |
|---|---|
| Poxel Biotech · France | 2010 |
Realized
9 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Cellnovo MedTech · France | 2011 | 2015 | IPO | – | – |
| Covagen Biotech · France | 2010 | 2014 | Trade Sale | Johnson & Johnson | – |
| Endosense MedTech · France | 2009 | 2013 | Trade Sale | St. Jude Medical | – |
| GenKyoTex Biotech · France | 2011 | 2014 | Trade Sale | – | – |
| Glycovaxin Biotech · France | 2009 | 2015 | Trade Sale | GSK | – |
| Parvulus Medical MedTech · France | 2010 | – | Trade Sale | – | – |
| Sapiens SaaS · France | 2011 | 2013 | Trade Sale | Medtronic | – |
| Tobira Therapeutics Biotech · France | 2009 | 2016 | Trade Sale | Allergan | – |
| Vivoryon Biotech · France | 2009 | 2014 | IPO | – | – |
Winch Capital 1RealizedBuyout2008€166M0 assets13 exitsBuyout2008 · 18yr€166M013
Realized
13 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| B2S Business Services · France | 2011 | – | Trade Sale | Comdata Group | – |
| Champeau Construction · France | 2007 | 2020 | Trade Sale | – | – |
| Euro Protection Industrials · France | 2011 | 2017 | Secondary | Capextens - Dentressangle Initiatives | – |
| European Homes Real Estate · France | 2011 | 2017 | Secondary | Société Générale Capital Partenaires, Idinvest, Capzanine, Siparex and Alliance Entreprendre | – |
| Fila Education · France | 2010 | – | Secondary | VEI Capital | – |
| Groupe Fontanel Real Estate · France | 2010 | 2021 | Trade Sale | Fontanel family and management | – |
| Groupe Segex Construction · France | 2010 | 2018 | Trade Sale | – | – |
| Nexira Consumer · France | 2010 | 2016 | Trade Sale | Naxicap Partners | – |
| OCEA Aerospace & Defence · France | 2007 | 2019 | Trade Sale | – | – |
| Sergent Major Consumer · France | 2010 | – | Trade Sale | Du Pareil au Même / Olivier Halley holding | – |
| Sun City Consumer · France | 2011 | – | Trade Sale | – | – |
| Syclef Business Services · France | 2011 | 2015 | Trade Sale | Latour Capital | – |
| Voyageurs du Monde Hospitality · France | 2010 | 2015 | Trade Sale | Montefiore Investment | – |
Acto Mezzanine IRealizedMezzanine2007€187M0 assets23 exitsMezzanine2007 · 19yr€187M023
Realized
23 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Abrisud Construction · France | 2011 | – | Trade Sale | Akena | – |
| Antemeta IT Services · France | 2011 | – | Trade Sale | Chequers Capital | – |
| CESA Construction · France | 2010 | – | Trade Sale | – | – |
| Delpharm Pharma · France | 2007 | – | Trade Sale | Abénex Capital | – |
| Domidep Healthcare · France | 2011 | 2019 | Secondary | I Squared Capital | – |
| Emeraude Industrials · France | 2011 | – | Trade Sale | – | – |
| Faab Consumer · France | 2006 | – | Trade Sale | – | – |
| Groupe RG Industrials · France | 2013 | – | Trade Sale | – | – |
| Groupe Rougnon Construction · France | 2010 | 2019 | Trade Sale | Tikehau Capital | – |
| Ionisos MedTech · France | 2007 | 2014 | Trade Sale | – | – |
| Kopram Industrials · France | 2013 | – | Trade Sale | – | – |
| Lagarrigue MedTech · France | 2011 | 2016 | Trade Sale | Naxicap Partners | – |
| Legallais Construction · France | 2007 | – | Trade Sale | – | – |
| Ludendo Consumer · France | 2010 | 2019 | Trade Sale | – | – |
| Marie-Laure PLV Business Services · France | 2007 | – | Trade Sale | Argos Wityu / Management | – |
| Oberthur (2009) Consumer · France | 2009 | – | Trade Sale | – | – |
| Oberthur (2013) Consumer · France | 2013 | 2019 | Trade Sale | OBER FINANCES | – |
| Skill & You (Forma-Dis) Education · France | 2011 | – | Secondary | IK Investment Partners | – |
| Sodime Industrials · France | 2008 | – | Trade Sale | – | – |
| Sotralu Construction · France | 2008 | 2012 | Trade Sale | – | – |
| Vignal Mobility · France | 2008 | 2014 | Secondary | Eurazeo PME | – |
| WFC Logistics · France | 2007 | 2015 | Trade Sale | ECS Group | – |
| WFCI Logistics · France | 2008 | 2015 | Trade Sale | ECS Group | – |
BioDiscovery 2RealizedVC20070 assets4 exitsVC2007 · 19yr–04
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Implanet MedTech · France | 2007 | 2013 | Trade Sale | – | – |
| JenaValve MedTech · France | 2007 | 2024 | Trade Sale | Edwards Lifesciences | – |
| Noxxon Biotech · France | 2007 | 2016 | Trade Sale | – | – |
| SuperSonic Imagine MedTech · France | 2008 | 2019 | Trade Sale | Hologic | – |
BioDiscovery 1RealizedVC20050 assets2 exitsVC2005 · 21yr–02
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| EOS Imaging MedTech · France | 2005 | 2012 | IPO | – | – |
| MDxHealth MedTech · France | 2005 | 2006 | Trade Sale | – | – |
About Andera Partners
Andera Partners is a European mid-market private equity firm with €5.3 billion of assets under management as of December 2024, headquartered in Paris with offices in Munich and Brussels. The firm became independent in 2017 through a management-led spinoff from Edmond de Rothschild Group, building on a multi-decade track record across the underlying investment teams. Andera operates as a multi-strategy platform spanning LBO, growth equity, small-cap, mezzanine financing, energy transition infrastructure and life sciences venture.
Investment thesis
Andera deploys capital across six complementary strategies: Andera Acto (mid-cap LBO), Andera Croissance (growth equity), Andera Expansion (small-cap), Andera Mezzanine (debt-equity hybrid), Andera Smart Infra (energy transition infrastructure) and Andera Life Sciences (biotech venture and growth). Sector focus across the platform spans Healthcare (particularly biotech and HealthTech), TMT, Industrials, Real Estate, Telecom and Consumer, with the Life Sciences franchise providing dedicated expertise in early and growth-stage biotech transactions across European and selectively North American targets.
Recent activity
Recent realised exits include AgoMab (healthcare, 2026), Avalyn Pharma (healthcare, 2026), Tubulis (healthcare, 2026), Artemys (TMT, 2025), Evommune (healthcare, 2025) and Imcheck (healthcare, 2025), reflecting strong 2026 distribution momentum across the Life Sciences franchise. The platform tracks 26 funds, 119 active portfolio companies and 181 realised exits across multiple strategy types and vintages.
Frequently asked questions
- How many portfolio companies does Andera Partners have?
- Andera Partners has 123 active portfolio companies and 188 completed exits and 26 funds tracked on GP Intel.
- Where is Andera Partners headquartered?
- Andera Partners is headquartered in Paris, France.
- What is Andera Partners's assets under management?
- Andera Partners manages approximately €5.3B in assets under management.
- What are Andera Partners's recent exits?
- Recent realized exits by Andera Partners include: Ingenostrum (2026) to IREN; Tubulis (2026) to Gilead Sciences; AgoMab (2026) to Public market (Nasdaq IPO ticker AGMB); Avalyn Pharma (2026) to Public market (Nasdaq IPO ticker AVLN); Finegan (2026) to Acensi; Terr.A (2025) to Ether Energy; combined company named Etherr.a; Imcheck (2025) to Ipsen; SoniVie (2025) to Boston Scientific.
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Last updated August 2026 · Sourced from public filings · Report an issue