Indigo Capital
Indigo Capital SAS is an independent Paris-based private debt and mezzanine investment firm founded in May 2011 by Monique Deloire and former colleagues, who spun out from UK-based Indigo Capital LLP to focus on continental European mezzanine financing. The firm provides bond financing, junior capital, preferred equity and unitranche solutions to French and European lower mid-cap businesses with revenues between EUR 30M and EUR 300M, typically writing tickets of EUR 7M to EUR 40M alongside founders, management teams, family offices and minority sponsors. Indigo specialises in sponsorless and management-led transactions, MBOs, expansion finance, recapitalisations and corporate acquisitions. The firm operates from Paris, Lyon and Milan with around 10 staff and 4 partners, and since October 2020 is 49 percent owned by Spanish asset manager Alantra. Across three flagship funds (FPCI Indigo Capital I 2014 EUR 210M, II 2019 EUR 275M, III 2024-2025 EUR 252M final close December 2025), Indigo has deployed roughly EUR 1.2 billion across 75 plus management teams and supported 100 plus build-up acquisitions, holding AMF approval GP-1200015 (SIREN 532447158).
Key facts
Recent exits
Coverage notes
3 funds tracked, 70 portfolio companies (55 active · 15 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Indigo Capital has raised, with its portfolio companies. Hand-checked from public filings.
Indigo Capital IIIGrowth2024 · 2yr€252M10 active · 3 realized
Unrealized
10 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Cheef | Consumer | France | 2025 |
| Delville Management | Business Services | France | 2024 |
| Economie d'Energie | Energy | France | 2019 |
| Emosia Group | Consumer | France | 2026 |
| Heytens | Consumer | Belgium | 2025 |
| ISD | Business Services | France | 2022 |
| La Famille | Consumer | France | 2025 |
| Sapem | Industrials | France | 2025 |
| Univers Santé | Healthcare | France | 2024 |
| VivaSon | Healthcare | France | 2026 |
Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Burger King France | Consumer | France | – | 2016 | Trade Sale | – | |
| MCI | Business Services | Switzerland | 2017 | 2024 | Secondary | – | – |
| Sidac | Industrials | Italy | 2017 | 2021 | Trade Sale | – |
Indigo Capital IIGrowth2019 · 7yr€275M19 active · 3 realized
Unrealized
19 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| ACS Solutions | Financials | France | 2023 |
| ARJOBEX | Industrials | France | 2021 |
| Bassini | Consumer | France | 2020 |
| Bexley | Consumer | France | 2022 |
| CGH | Consumer | France | 2020 |
| ChocMod | Consumer | France | 2021 |
| Docoon | Software | France | 2022 |
| FCP Euro | Consumer | US | 2022 |
| Fromager Plus | Consumer | France | 2022 |
| Ilma | Industrials | Italy | 2022 |
| Nutrimuscle | Consumer | France | 2022 |
| ODITY | Business Services | France | 2020 |
| Okivét | Consumer | France | 2021 |
| Pejo | Industrials | France | 2022 |
| Rivalen | Industrials | France | 2021 |
| Slimming and healthy meals | Consumer | France | 2022 |
| VetoAdom Emergence | Healthcare | France | 2022 |
| Vision Group | Healthcare | France | 2020 |
| Wedderspoon Organic | Consumer | US | 2020 |
Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| CTN Groupe | Business Services | France | 2018 | 2023 | MBO | – | |
| Virosac | Industrials | Italy | 2019 | 2024 | Secondary | – | |
| Visionnaire | Consumer | Italy | 2018 | 2024 | Secondary | – |
Indigo Capital IGrowth2014 · 12yr€210M26 active · 9 realized
Unrealized
26 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Accelya | Software | Spain | 2013 |
| Altares | Business Services | France | 2017 |
| Aster Cephac | Healthcare | France | 2013 |
| Béaba | Consumer | France | 2015 |
| Cenexi | Healthcare | France | 2017 |
| Center Parcs | Consumer | France | 2017 |
| Converteam | Industrials | France | 2009 |
| CTG | Industrials | France | 2015 |
| Eau écarlate | Consumer | France | 2016 |
| ECS group | Business Services | France | 2015 |
| Faceo | Business Services | France | 2009 |
| Fraikin | Business Services | France | 2017 |
| InverCap | Financials | Spain | 2014 |
| mc2i | TMT | France | 2014 |
| Medicharme | Healthcare | France | 2014 |
| Moria | Healthcare | France | 2015 |
| Nerim | TMT | France | 2017 |
| Ozitem Group | Software | France | 2016 |
| PARISCityVISION | Consumer | France | 2014 |
| Parkeon | Industrials | France | 2014 |
| People & Baby | Consumer | France | 2017 |
| Pyxidis | Industrials | France | 2015 |
| SMCP | Consumer | France | 2013 |
| Thermocoax | Industrials | France | 2015 |
| TLD | Industrials | France | 2013 |
| Vertbaudet | Consumer | France | 2016 |
Realized
9 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Atlas For Men | Consumer | France | 2014 | 2019 | Secondary | – | |
| Calicéo | Consumer | France | 2013 | 2018 | Secondary | – | |
| Châteauform' | Business Services | France | 2011 | 2016 | Secondary | – | |
| Fillon Technologies | Industrials | France | 2006 | 2021 | MBO | – | |
| PatrimOne | Financials | France | 2014 | 2019 | MBO | – | |
| Prezioso | Industrials | France | 2000 | 2003 | MBO | – | |
| Ubiqus | Business Services | France | 2014 | 2022 | MBO | – | |
| Vulcanic | Industrials | France | 2016 | 2022 | Secondary | – | |
| Webinterpret | Software | France | 2015 | 2020 | MBO | – |
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About Indigo Capital
Indigo Capital is a private equity firm with capital deployed across 7 active fund vehicles and a founding year of 2011, headquartered in Paris. The platform targets majority and significant minority stakes in European mid-cap businesses across industrials, consumer and business services, deploying institutional capital from successive flagship vehicles.
Investment thesis
The platform deploys buyout and growth equity capital across industrials, consumer and business services businesses in France and selectively across Europe, targeting majority and significant minority equity positions in mid-cap and lower mid-cap European companies. Value-creation framework emphasises operational improvement, working capital optimisation and selective M&A activity, with the partnership culture supporting management teams across multi-year ownership periods.
Recent activity
Recent realised exits include Vulcanic (industrials, 2022), Ubiqus (business services, 2022), Fillon Technologies (TMT, 2021) and Webinterpret (software, 2020). The platform tracks 7 fund vehicles, 52 active portfolio companies and 5 realised exits across the strategy's history. Detailed buyer names and multiple data available on Pro at €29/month.
Similar firms
Other private equity firms tracked on GP Intel.
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