Garibaldi Participations

About Garibaldi Participations

Garibaldi Participations is a French private equity firm with approximately €200 million of assets under management, founded in 2004 and based in Lyon. The firm is a subsidiary of Banque Populaire Auvergne Rhône Alpes (Groupe BPCE), investing primarily as a minority shareholder in SMEs across the Auvergne-Rhône-Alpes region and selectively in broader French markets.

Investment thesis

Garibaldi Participations targets Auvergne-Rhône-Alpes regional French SMEs and selectively broader French mid-cap companies, deploying minority equity positions aligned with the patient capital mandate of the Banque Populaire mutualist banking group. Sector focus spans Industrials, Business Services and selectively other regional French verticals, with the Lyon regional heritage providing deep banking and management team relationships.

Recent activity

Recent realised exits include ADDEV Materials (industrials, 2025) and Groupe Jarnias (business services, 2025), reflecting active distribution across the regional portfolio. The platform tracks a single dedicated fund vehicle, 7 active portfolio companies and 2 realised exits across the Auvergne-Rhône-Alpes programme.

Frequently asked questions

What investment strategy does Garibaldi Participations focus on?

Garibaldi Participations focuses on Growth, Buyout strategies in the private equity space.

How many portfolio companies does Garibaldi Participations have?

Garibaldi Participations has 51 active portfolio companies and 7 completed exits and 1 fund tracked on GP Intel.

Where is Garibaldi Participations headquartered?

Garibaldi Participations is headquartered in Lyon, France.

What is Garibaldi Participations's assets under management?

Garibaldi Participations manages approximately €200M in assets under management.

When was Garibaldi Participations founded?

Garibaldi Participations was founded in 2004.

What sectors does Garibaldi Participations invest in?

Garibaldi Participations invests across Industrials, Consumer, Business Services, Healthcare, Software.

What are Garibaldi Participations's recent exits?

Recent realized exits by Garibaldi Participations include: ADDEV Materials (2025) to Naxicap Partners; Groupe ASSADIA (2025) to Founders (MBO); Groupe Jarnias (2025) to Xavier Rodriguez (CEO MBO); Sileane (2025) to Motion Equity Partners; D-Securite Groupe (2024) to Safe Life; Evolutis (2023) to MBI; Winback Group (2021) to CAPZA.