Demeter

About Demeter

Demeter, operating as Demeter Investment Managers, is one of Europe's leading private equity investors in the energy and ecological transition, founded in 2005 and headquartered in Paris, France. The firm operates as an independent AMF-regulated management company with standalone assets under management of approximately €1.5 billion as of December 2024. In January 2025 Demeter agreed a merger of equals with Cerea Partners to form Demea Invest, a combined platform with roughly €2.8 billion in assets and 66 employees, targeting more than €5 billion by 2030. Across its history Demeter has managed a multi-strategy range spanning venture and seed capital, growth equity and energy-transition infrastructure, with more than a dozen fund vehicles raised since inception including Paris Fonds Vert, the FMET energy-transition infrastructure fund and the Demeter Climate Infrastructure Fund.

Investment thesis

Demeter is a thematic transition investor spanning three strategies: early-stage venture and seed, growth equity, and infrastructure. The firm backs companies and projects in cleantech, renewable energy, energy efficiency, sustainable mobility, the circular economy, water, waste and eco-industries. Geographically the focus is France, Spain and Germany, with selective pan-European reach. Equity tickets range from small seed cheques through the Demeter Amorcage seed fund to larger growth and infrastructure commitments through vehicles such as Paris Fonds Vert at €200 million, the FMET energy-transition infrastructure fund at €200 million and the Demeter Climate Infrastructure Fund at €300 million. Limited partners include institutional investors, corporates, public bodies and family offices. Value creation rests on sector specialisation, an industrial network in the energy and ecological transition, and hands-on support for scaling and internationalisation.

Recent activity

Recent investments include Verkor in battery technology and cleantech (2021), Sweetch Energy in renewable energy covering osmotic power, ZE Energy in renewable energy and storage, and Construcia in circular construction. Recent exits include Optimum Automotive in sustainable mobility and fleet software (2024), Cityscoot in electric mobility (2024) and Zeway in electric mobility (2025). The platform continues to deploy across the energy and ecological transition while integrating into the Demea Invest combined platform formed with Cerea Partners.

Frequently asked questions

What investment strategy does Demeter focus on?

Demeter focuses on Growth, VC strategies in the private equity space.

How many portfolio companies does Demeter have?

Demeter has 36 active portfolio companies and 9 completed exits and 8 funds tracked on GP Intel.

Where is Demeter headquartered?

Demeter is headquartered in Paris, France.

What is Demeter's assets under management?

Demeter manages approximately €1.5B in assets under management.

When was Demeter founded?

Demeter was founded in 2005.

What sectors does Demeter invest in?

Demeter invests across Energy, Industrials, Software.

What are Demeter's recent exits?

Recent realized exits by Demeter include: Qarnot Computing (2026) to Scaleway; Instant System (2026) to Meanings Capital Partners with Bpifrance; Plan A (2026) to Diginex; ZEWAY (2025) to Heetch; Naïo Technologies (2025) to Naïo; Cityscoot (2024) to Cooltra; Optimum Automotive (2024) to Shiftmove; Eiffage education PPP portfolio (2024) to Serena Industrial Partners with RiverRock.