Crédit Agricole Alpes Développement
Credit Agricole Alpes Developpement (C2AD) is the joint private equity arm of Credit Agricole des Savoie and Credit Agricole Sud Rhone Alpes, two regional cooperative banks covering the French Alpine arc. Founded in March 2009 and rebranded in June 2023, with offices in Grenoble and Annecy, the firm deploys proprietary balance-sheet capital through two sister vehicles, CADS Capital for the Savoie territory and CASRA Capital for the Isere, Drome and Ardeche territory, into companies headquartered in Ardeche, Drome, Isere, Savoie and Haute-Savoie. Around EUR 130M total AUM across roughly 150 companies backed since launch, deploying around EUR 12M per year in Savoie. Tickets range from EUR 400k for seed and creation rounds up to EUR 6M for growth and transmission deals on an evergreen long-term horizon. The 11-strong team includes Managing Director Cyril Gouttenoire and 6 investment officers.
Key facts
Recent exits
Coverage notes
3 funds tracked, 51 portfolio companies (42 active · 9 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
51 companiesFunds & portfolio
Every fund Crédit Agricole Alpes Développement has raised, with its portfolio companies. Hand-checked from public filings.
CASRA CapitalEvergreen2009 · 17yr28 active · 5 realized
Unrealized
28 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Construction |  France | 2018 | |
| TMT | France | 2013 | |
| Deep Tech | France | 2025 | |
| Software | France | 2019 | |
| MedTech | France | 2021 | |
| Industrials | France | 2024 | |
| Industrials | France | 2018 | |
| Fintech | France | 2019 | |
| TMT | France | 2025 | |
| Industrials | France | 2017 | |
| Consumer | France | 2018 | |
| Consumer | France | 2019 | |
| E-commerce | France | 2020 | |
| Software | France | 2025 | |
| Software | France | 2020 | |
| HealthTech | France | 2017 | |
| TMT | France | 2019 | |
| Consumer | France | 2021 | |
| TMT | France | 2023 | |
| Consumer | France | 2019 | |
| Data & Analytics | France | 2019 | |
| TMT | France | 2019 | |
| MedTech | France | 2019 | |
| Consumer | France | 2016 | |
| Industrials | France | 2019 | |
| Industrials | France | 2024 | |
| TMT | France | 2024 | |
| Software | France | 2011 |
France· Entry 2018France· Entry 2013France· Entry 2025France· Entry 2019France· Entry 2021France· Entry 2024France· Entry 2018France· Entry 2019France· Entry 2025France· Entry 2017France· Entry 2018France· Entry 2019France· Entry 2020France· Entry 2025France· Entry 2020France· Entry 2017France· Entry 2019France· Entry 2021France· Entry 2023France· Entry 2019France· Entry 2019France· Entry 2019France· Entry 2019France· Entry 2016France· Entry 2019France· Entry 2024France· Entry 2024France· Entry 2011
CADS DeveloppementEvergreen2003 · 23yr0 active · 1 realized
CADS CapitalEvergreen1991 · 35yr14 active · 3 realized
Unrealized
14 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Industrials | France | 2017 | |
| Business Services | France | 2026 | |
| Energy | France | 2024 | |
| Consumer | France | 2024 | |
| Consumer | France | 2025 | |
| Hospitality | France | 2020 | |
| Consumer | France | 2018 | |
| Industrials | France | 2015 | |
| Industrials | France | 2025 | |
| Consumer | France | 2025 | |
| Industrials | France | 2016 | |
| Industrials | France | 2015 | |
| Aerospace & Defence | France | 2017 | |
| Industrials | France | 2021 |
France· Entry 2017France· Entry 2026France· Entry 2024France· Entry 2024France· Entry 2025France· Entry 2020France· Entry 2018France· Entry 2015France· Entry 2025France· Entry 2025France· Entry 2016France· Entry 2015France· Entry 2017France· Entry 2021Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | France | 2021 | 2023 | Trade Sale | – | ||
| Energy | France | 2018 | 2022 | Secondary | – | ||
| Industrials | France | 2014 | 2025 | Trade Sale | – |
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About Crédit Agricole Alpes Développement
Crédit Agricole Alpes Développement is a venture capital platform based in Paris with €54 million of assets under management as of December 2024. The firm targets European and selectively global technology companies across industrials and TMT, with capital deployed across early-stage and Series A/B rounds alongside institutional limited partners.
Investment thesis
The platform deploys venture capital into industrials and TMT categories with a focus on technology-enabled businesses across France and selectively across Europe. Investment focus spans seed and growth stages with capital deployed across multiple rounds per portfolio company, supporting founder teams through international scaling and selective M&A activity. The fund structure enables longer holding periods than typical venture vehicles, supporting category-leadership outcomes in technology platforms with global ambitions.
Recent activity
Realised exits across the current platform vintages remain limited, with the portfolio in active deployment and value-creation phase. The platform tracks 3 fund vehicles, 22 active portfolio companies and 0 realised exits across the strategy's history. Detailed buyer names and multiple data available on Pro at €29/month.
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France·€44MGet the full picture on Crédit Agricole Alpes Développement.
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