Capza
AUM
€9.1B
Funds
10
vintages 2018–2026
Portfolio
130
Exits
45
Capza is a Paris private equity firm with €9.1B AUM, 130 active companies and 45 exits.
Key takeaways
- ·35 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 44 realized deals: 4 years.
- ·Top sector focus: IT Services (29% of portfolio).
- ·Fund cadence: ~1Y between vintages · last raise 2026.
Sector breakdown
175 companiesIT Services
50 · 29%
Business Services
24 · 14%
Healthcare
15 · 9%
Construction
13 · 7%
Industrials
12 · 7%
Consumer
11 · 6%
MedTech
8 · 5%
Aerospace & Defence
7 · 4%
Geography breakdown
7 geographiesFrance
144 · 82%
Spain
10 · 6%
Germany
10 · 6%
Italy
5 · 3%
Netherlands
4 · 2%
Luxembourg
1 · 1%
Belgium
1 · 1%
Key facts
HQParis, France
Websitecapza.co
Recent exits
Capza sold Novarc to Croullet family (MBO) in 2026 after 5 years.
Capza sold Arlettie to PAI Partners in 2026 after 3 years.
Capza sold Alvest to PAI Partners in 2025 after 10 years.
Capza sold BÉTON Solutions Mobiles to Basaltes in 2025 after 4 years.
Coverage notes
10 funds tracked, 175 portfolio companies (130 active · 45 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Capza has raised, with its portfolio companies. Hand-checked from public filings.
10 funds
Fund
Strategy
Vintage
Size
Assets
Exits
CAPZA 7 Private DebtPrivate Debt2026€1.4B4 assets1 exitsPrivate Debt2026 · 0yr€1.4B41
Unrealized
4 held| Company | Entry |
|---|---|
| Evidenze Group Healthcare · Spain | 2026 |
| Protos IT Services · Italy | 2025 |
| Rubicon IT Services · Netherlands | 2025 |
| Solutys Group IT Services · France | 2025 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Moving Hospitality · France | 2017 | 2019 | Secondary | Future French Champions | – |
Artemid Senior Loans IVPrivate Debt2025€1.0B15 assetsPrivate Debt2025 · 1yr€1.0B15–
Unrealized
15 held| Company | Entry |
|---|---|
| Acces Industrie Business Services · France | 2024 |
| Avisia IT Services · France | 2025 |
| Babcock Wanson Industrials · France | 2024 |
| BV Tech Cybersecurity · Italy | 2026 |
| DIAM Business Services · France | 2024 |
| Driescher Energy · Germany | 2025 |
| Efeso Business Services · France | 2024 |
| FGN Business Services · Netherlands | 2025 |
| Groupe ADF Construction · France | 2024 |
| HAUDECŒUR Industrials · France | 2024 |
| Lauralu Construction · France | 2026 |
| Only creative entrepreneurs Business Services · France | 2026 |
| Saal Digital Consumer · Germany | 2025 |
| Snic Technologies Industrials · France | 2025 |
| Vulcain Engineering ClimateTech · France | 2024 |
CAPZA Flex Equity Mid-Market IIBuyout2024€1.3B9 assetsBuyout2024 · 2yr€1.3B9–
Unrealized
9 held| Company | Entry |
|---|---|
| European Dynamics IT Services · Luxembourg | 2025 |
| Groupe JVS SaaS · France | 2024 |
| Imdev Healthcare · France | 2024 |
| Ital Express (MMF V) Industrials · France | 2024 |
| Magellan Partners (2026 re-entry) IT Services · France | 2026 |
| Mecadaq Group Aerospace & Defence · France | 2025 |
| Myrium IT Services · France | 2025 |
| Respire Consumer · France | 2026 |
| UUDS Business Services · France | 2026 |
CAPZA 6 Private DebtPrivate Debt2022€2.5B35 assets7 exitsPrivate Debt2022 · 4yr€2.5B357
Unrealized
35 held| Company | Entry |
|---|---|
| Acceo Business Services · France | 2024 |
| Acteon MedTech · France | 2024 |
| Alixio Business Services · France | 2022 |
| ASPY Healthcare · Spain | 2019 |
| Biobank Biotech · France | 2024 |
| Blanchon Construction · France | 2021 |
| Clinique DU Pont Saint-vaast Healthcare · France | 2024 |
| Concerto Business Services · France | 2026 |
| CSS IT Services · Germany | 2021 |
| Dental Services Group Healthcare · Germany | 2022 |
| Dentius IT Services · Belgium | 2022 |
| EFOR Business Services · France | 2024 |
| ENVÉA IT Services · France | 2020 |
| Everaxis Aerospace & Defence · France | 2021 |
| F2A IT Services · Italy | 2023 |
| Group Lacour IT Services · France | 2023 |
| IC Consult IT Services · Germany | 2021 |
| Ilerna Education · Spain | 2024 |
| In'tech Medical MedTech · France | 2021 |
| Intescia Group IT Services · France | 2022 |
| MDT Technologies Industrials · Germany | 2021 |
| Neoxam Fintech · France | 2023 |
| Opteven Business Services · France | 2023 |
| Ortivity Healthcare · Germany | 2024 |
| Practice Chain FOR Internal Medicine Business Services · Germany | 2023 |
| Primed MedTech · Germany | 2024 |
| Qconcepts Business Services · Netherlands | 2024 |
| Quattron X Nextrail IT Services · Germany | 2024 |
| Questel IT Services · France | 2020 |
| Scaff'holding Construction · France | 2021 |
| Sterimed MedTech · France | 2021 |
| Technoflex MedTech · France | 2024 |
| Theodo IT Services · France | 2022 |
| Twentyfour Seven Business Services · Spain | 2024 |
| Values Group IT Services · France | 2025 |
Realized
7 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Alvest Aerospace & Defence · France | 2015 | 2025 | Secondary | PAI Partners | – |
| E.CF Consumer · France | 2017 | 2021 | Trade Sale | – | – |
| Evernex IT Services · France | 2018 | 2023 | Secondary | 3i (via acquisition from Carlyle) | – |
| IAD IT Services · France | 2019 | 2023 | Trade Sale | Insight Partners | – |
| Labelium IT Services · France | 2021 | 2021 | Secondary | Charterhouse Capital Partners | – |
| MBA Healthcare · Spain | 2018 | 2022 | Trade Sale | AddLife | – |
| Nexeya Aerospace & Defence · France | 2017 | 2021 | Trade Sale | Hensoldt | – |
CAPZA Flex Equity Mid-Market IBuyout2021€500M8 assets4 exitsBuyout2021 · 5yr€500M84
Unrealized
8 held| Company | Entry |
|---|---|
| BIG Mamma Hospitality · France | 2021 |
| EPSA Business Services · France | 2022 |
| Mayoly Spindler Pharma · France | 2022 |
| OUI Care Business Services · France | 2021 |
| Sogetrel IT Services · France | 2021 |
| Status IT Services · France | 2021 |
| Travelsoft TMT · France | 2023 |
| Wifirst Telecom · France | 2022 |
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| BÉTON Solutions Mobiles Construction · France | 2021 | 2025 | Trade Sale | Basaltes | – |
| Carso Business Services · France | 2021 | 2025 | Trade Sale | Bactéries et Aliments | – |
| Eduservices Education · France | 2021 | 2025 | Secondary | Amundi Private Equity / Arkéa Capital / CA Group pool (Idia Capital Investissement, Carvest, Socadif, CACF Développement) / BNP Paribas Développement | – |
| Novarc Industrials · France | 2021 | 2026 | MBO | Croullet family (MBO) | – |
CAPZA Growth TechVC2021€270M10 assets2 exitsVC2021 · 5yr€270M102
Unrealized
10 held| Company | Entry |
|---|---|
| Advens Cybersecurity · France | 2021 |
| APL Data Center IT Services · France | 2026 |
| Assessfirst IT Services · France | 2021 |
| ASYS IT Services · France | 2023 |
| Beetween HR Tech · France | 2025 |
| NEOX HealthTech · France | 2022 |
| Simplifia IT Services · France | 2024 |
| Sogexia IT Services · France | 2024 |
| WEB GEO Services IT Services · France | 2021 |
| Xenocs Healthcare · France | 2021 |
Artemid Senior Loans IIIPrivate Debt2020€600M15 assets7 exitsPrivate Debt2020 · 6yr€600M157
Unrealized
15 held| Company | Entry |
|---|---|
| Amexio IT Services · France | 2022 |
| Ateliers DE France Construction · France | 2023 |
| Batibig Construction · France | 2022 |
| Biotech Dental MedTech · France | 2020 |
| Bridge IT Services · France | 2021 |
| Conclusion IT Services · Netherlands | 2022 |
| Focus Entertainment Industrials · France | 2021 |
| Laboratoires Delbert Pharma · France | 2022 |
| Piercan Industrials · France | 2023 |
| Samse Construction · France | 2020 |
| Sewan IT Services · France | 2023 |
| Sicame Energy · France | 2022 |
| Spherea Aerospace & Defence · France | 2019 |
| THE Independents IT Services · France | 2023 |
| WM Clinics Healthcare · France | 2022 |
Realized
7 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Babilou Education · France | 2018 | 2022 | Secondary | Antin Infrastructure Partners | – |
| Benvic Industrials · France | 2020 | 2022 | Trade Sale | ICIG | – |
| Bruneau Business Services · France | 2017 | 2021 | Trade Sale | TowerBrook Capital Partners | – |
| Constellation IT Services · France | 2021 | 2024 | Secondary | 3i Group | – |
| Constructel Energy · France | 2018 | 2022 | Secondary | Goldman Sachs Asset Management | – |
| MÉRIGUET Business Services · France | 2017 | 2021 | Trade Sale | – | – |
| Valtech IT Services · France | 2017 | 2021 | Secondary | BC Partners | – |
CAPZA 5 Flex EquityGrowth2020€700M21 assets20 exitsGrowth2020 · 6yr€700M2120
Unrealized
21 held| Company | Entry |
|---|---|
| Aercal Aerospace & Defence · Spain | 2022 |
| Audensiel IT Services · France | 2022 |
| Bnetwork Hospitality · France | 2024 |
| Culturespaces Hospitality · France | 2022 |
| DI Environnement Business Services · France | 2025 |
| Dubbing Brothers Business Services · France | 2021 |
| Eidosmedia TMT · Italy | 2021 |
| EOS Corrugated Industrials · France | 2022 |
| Eternity Systems Industrials · France | 2021 |
| Eurofeu Construction · France | 2024 |
| IMF Smart Education Healthcare · Spain | 2020 |
| JVS Group IT Services · France | 2024 |
| JVS-Mairistem Software · France | 2024 |
| LA Finca Consumer · Spain | 2022 |
| Luxeol Healthcare · France | 2022 |
| Mecadaq Group Aerospace & Defence · France | 2025 |
| NEO2 Business Services · France | 2023 |
| Octime (2016) HR Tech · France | 2020 |
| Winncare MedTech · France | 2021 |
| Wshop IT Services · France | 2021 |
| YNOV IT Services · France | 2020 |
Realized
20 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Alphitan IT Services · France | 2018 | 2024 | Secondary | Waterland Private Equity | – |
| CÉRÉLIA Consumer · France | 2015 | 2020 | Secondary | Ardian | – |
| CESA Construction · France | 2014 | 2019 | Secondary | Sparring Capital + Socadif | – |
| Compagnie DE Vichy Healthcare · France | 2014 | 2019 | Trade Sale | France Thermes | – |
| DGF Consumer · France | 2014 | 2019 | Secondary | – | – |
| Finance Active Fintech · France | 2016 | 2019 | Secondary | Cathay Capital | – |
| Francheville Healthcare · France | 2015 | 2020 | Secondary | Management (family + LCL refinancing) | – |
| Geomedia IT Services · France | 2017 | 2023 | Secondary | Keensight Capital | – |
| Horizon Software TMT · France | 2018 | 2022 | Secondary | Sagard NewGen | – |
| Ital Express Logistics · France | 2019 | 2024 | Secondary | Naxicap Partners | – |
| Ivnosys IT Services · Spain | 2019 | 2021 | Trade Sale | Signaturit (PSG) | – |
| Magellan Partners IT Services · France | 2021 | 2025 | Secondary | ICG | – |
| MCA IT Services · France | 2017 | 2022 | MBO | Management (Pierre Ebenstein MBO) | – |
| Monviso Consumer · Italy | 2018 | 2024 | Secondary | Argos Wityu | – |
| Octime HR Tech · France | 2020 | 2024 | Secondary | IK Partners | – |
| Pierre GUÉRIN Healthcare · France | 2017 | 2019 | Trade Sale | ENDEL ENGIE | – |
| Recommerce E-commerce · France | 2018 | 2022 | Trade Sale | United.b + Bouygues Telecom | – |
| Soccer Park - LE Five Hospitality · France | 2016 | 2021 | MBO | Management team + Nicolas Béraud (Betclic) | – |
| Talan IT Services · France | 2016 | 2020 | Secondary | Towerbrook | – |
| Winback MedTech · France | 2021 | 2025 | Secondary | Charterhouse Capital Partners | – |
CAPZA ExpansionGrowth2020€500M0 assets1 exitsGrowth2020 · 6yr€500M01
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Beton Solutions Mobiles (BSM) Construction · France | 2021 | 2025 | Trade Sale | Basaltes | – |
CAPZA TransitionPrivate Debt2018€200M13 assets3 exitsPrivate Debt2018 · 8yr€200M133
Unrealized
13 held| Company | Entry |
|---|---|
| Avignon Ceramic Industrials · France | 2023 |
| Finegan Business Services · France | 2018 |
| Gainerie 91 Consumer · France | 2024 |
| Inaxe Construction · France | 2025 |
| Komvida Healthcare · Spain | 2022 |
| LA FÉE MARABOUTÉE Consumer · France | 2022 |
| Luxcarta IT Services · France | 2021 |
| Norcan Construction · France | 2021 |
| Objectif Crpe Education · France | 2024 |
| PCE Services IT Services · France | 2022 |
| Stanwell IT Services · France | 2023 |
| SYMA Business Services · France | 2021 |
| Tevah SYSTÈMES IT Services · France | 2022 |
Realized
3 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Arlettie Consumer · France | 2023 | 2026 | Secondary | PAI Partners | – |
| Coutot-Roehrig Fintech · France | 2019 | 2023 | Secondary | Luxempart | – |
| Groupe Saint Aubin Consumer · France | 2019 | 2024 | Trade Sale | Antilles Glaces | – |
About Capza
Capza is a French private investment platform with €10.5 billion of assets under management as of December 2024, headquartered in Paris with offices across France and selectively in Madrid, Munich and Milan. The firm was founded in 2004 as the private equity arm of AXA Investment Managers before becoming independent through a management-led spinoff transaction. Capza now operates as a multi-strategy mid-market platform combining private equity, private debt, growth equity and transition financing through dedicated fund vehicles.
Investment thesis
Capza targets European small and mid-market companies primarily in France, Spain, Germany, Italy and the Benelux region, deploying equity and debt capital across five complementary strategies: Buyout (majority equity in profitable mid-cap businesses), Growth (significant minority in scaling companies), Private Debt (unitranche and second-lien financing), Transition (energy and digital transition equity) and Flex Equity (flexible mezzanine and quasi-equity structures). Equity ticket sizes typically range from €15 million to €100 million per transaction across the strategies.
Recent activity
Recent realised exits include NOVARC (energy, 2026), ALVEST (business services, 2025), BÉTON SOLUTIONS MOBILES (industrials, 2025) and EDUSERVICES (IT services, 2025). The platform tracks 9 funds, 119 active portfolio companies and 40 realised exits, reflecting the high deployment frequency typical of mid-market multi-strategy platforms with multiple vintage funds active simultaneously across distinct capital pools.
Frequently asked questions
- How many portfolio companies does Capza have?
- Capza has 130 active portfolio companies and 45 completed exits and 10 funds tracked on GP Intel.
- Where is Capza headquartered?
- Capza is headquartered in Paris, France.
- What is Capza's assets under management?
- Capza manages approximately €9.1B in assets under management.
- What are Capza's recent exits?
- Recent realized exits by Capza include: NOVARC (2026) to Croullet family (MBO); ARLETTIE (2026) to PAI Partners; ALVEST (2025) to PAI Partners; BÉTON SOLUTIONS MOBILES (2025) to Basaltes; CARSO (2025) to Bactéries et Aliments; EDUSERVICES (2025) to Amundi Private Equity / Arkéa Capital / CA Group pool (Idia Capital Investissement, Carvest, Socadif, CACF Développement) / BNP Paribas Développement; MAGELLAN PARTNERS (2025) to ICG; WINBACK (2025) to Charterhouse Capital Partners.
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Last updated August 2026 · Sourced from public filings · Report an issue