Capza

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. Detailed buyer names and multiple data available on Pro at €49/month.