InnovaFonds
Founded in 2011, InnovaFonds is an independent French private equity firm managing over €500 million across five investment vehicles. It invests in small and medium-sized enterprises through growth capital and buyout transactions, actively supporting business development with an entrepreneurial approach.
InnovaFonds is a PARIS growth equity firm with €600M AUM, 36 active companies and 18 exits.
- ·9 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 15 realized deals: 5 years.
- ·Best return: 2.5x MOIC on SPC Group (2023).
- ·Top sector focus: Industrials (65% of portfolio).
- ·Fund cadence: ~4Y between vintages · last raise 2025.
Sector breakdown
54 companiesKey facts
Recent exits
InnovaFonds sold SNIC Technologies to EMZ Partners in 2026 after 3 years.
InnovaFonds sold Tera Environnement to CELNOR France in 2025.
InnovaFonds exited Groupe CAN in 2024 after 6 years.
InnovaFonds exited SPI Group in 2024 after 6 years.
Coverage notes
5 funds tracked, 54 portfolio companies (36 active · 18 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund InnovaFonds has raised, with its portfolio companies. Hand-checked from public filings.
Fonds Industries et Technologies IIIinvestingBuyout2025€215M9 assetsBuyout2025 · 1yr€215M9–
Unrealized
9 held| Company | Entry |
|---|---|
| Groupe CVA Business Services · France | 2025 |
| Groupe Isore Construction · France | 2025 |
| Ingeneo (ex Nortec) Industrials · France | 2024 |
| Isore Real Estate · France | 2025 |
| Médipréma MedTech · France | 2025 |
| Miditracage - Esvia Industrials · France | 2025 |
| NextRoad Construction · France | 2025 |
| SDAG Adhesifs Industrials · France | 2026 |
| SDAG Adhésifs Consumer · France | 2026 |
Partenaire Managers IclosedBuyout2025€115M0 assetsBuyout2025 · 1yr€115M0–
No portfolio companies tracked yet.
Innovafonds AuraharvestingBuyout2020€150M21 assets5 exitsBuyout2020 · 6yr€150M215
Unrealized
21 held| Company | Entry |
|---|---|
| A&B Couture Industrials · France | 2024 |
| AlMa Fintech · France | 2024 |
| Chloride Industrials · France | 2021 |
| Clesse Industries Industrials · France | 2022 |
| DMAX Industrials · France | 2022 |
| Dydesys Industrials · France | 2023 |
| Eternity Systems Industrials · France | 2021 |
| Fleuret Aerospace & Defence · France | 2025 |
| Groupe A. Paviot Industrials · France | 2023 |
| Groupe Lumiplan Industrials · France | 2023 |
| Groupe Molinel Robur Industrials · France | 2022 |
| Groupe NEOTEC Industrials · France | 2023 |
| Groupe Référence Business Services · France | 2024 |
| Lumiplan TMT · France | 2023 |
| Milliris Industrials · France | 2024 |
| Mineral Design Industrials · France | 2021 |
| Mojovida Industrials · France | 2024 |
| Novae Industrials · France | 2022 |
| Pagès Group Industrials · France | 2020 |
| Praxy Industrials · France | 2025 |
| Salini Immobilier Real Estate · France | 2025 |
Realized
5 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Alpex Industrials · France | 2021 | – | Continuation Vehicle | AlMa | – |
| Beton Solutions Mobiles Construction · France | 2023 | 2023 | Trade Sale | Basaltes | – |
| BSM Construction · France | 2021 | 2023 | Trade Sale | Basaltes | – |
| SNIC Technologies Industrials · France | 2023 | 2026 | MBO | EMZ Partners | – |
| Tera Environnement ClimateTech · France | – | 2025 | Trade Sale | CELNOR France | – |
Innovafonds IIdivestingBuyout2015€200M5 assets6 exitsBuyout2015 · 11yr€200M56
Unrealized
5 held| Company | Entry |
|---|---|
| BARTEC Group Industrials · France | 2019 |
| ECP Industrials · France | 2018 |
| Lotronic TMT · France | 2015 |
| Machines Pages Diversified · France | 2016 |
| Numalliance Industrials · France | 2019 |
Realized
6 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Groupe CAN Construction · France | 2018 | 2024 | – | – | – |
| JRI Industrials · France | 2015 | 2019 | MBO | Management, Alliance Entreprendre and Caisse d'Epargne Ile-de-France | – |
| Physitek Devices Industrials · France | 2017 | 2021 | MBO | Management and Andera Acto | – |
| Rail Industries Mobility · France | 2019 | 2023 | Continuation Vehicle | Innovafonds Aura | – |
| SPC Group Industrials · France | 2018 | 2023 | – | – | 2.5x |
| SPI Group Consumer · France | 2018 | 2024 | – | – | – |
Fonds Industries et Technologies IdivestingBuyout2010€150M1 assets7 exitsBuyout2010 · 16yr€150M17
Unrealized
1 held| Company | Entry |
|---|---|
| Smart Home Intl. Industrials · France | 2014 |
Realized
7 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Altix Industrials · France | 2012 | 2018 | MBO | Amundi Private Equity Funds and management | – |
| Avencall Industrials · France | 2012 | 2020 | Trade Sale | Wisper | – |
| ECM Technologies Industrials · France | 2014 | 2020 | Secondary | Garibaldi Participations, CERAE and A Plus Finance | – |
| Ecrin Systems Industrials · France | 2011 | 2013 | – | – | – |
| Icape Industrials · France | 2013 | 2017 | MBO | Management | – |
| Nec-K Industrials · France | 2013 | 2018 | MBO | Management | – |
| Oros Industrials · France | 2010 | 2015 | Trade Sale | Beijing T&S Technologies Co | – |
About InnovaFonds
InnovaFonds is an independent French private equity firm with over €500 million of assets under management as of December 2024, founded in 2011 and headquartered in Paris. The firm manages five investment vehicles deploying capital across small and medium-sized enterprises through growth capital and buyout transactions, with the platform actively supporting French SME ecosystem across multiple investment cycles.
Investment thesis
InnovaFonds targets French SMEs and lower mid-cap companies, deploying growth equity and selective buyout capital with equity tickets typically ranging from €5 million to €25 million per transaction. Sector focus spans the broad coverage typical of generalist French SME platforms, with particular depth in industrial businesses and selectively other verticals where operational improvement and bolt-on M&A drive value creation.
Recent activity
Recent realised exits include Tera Environnement (ClimateTech, 2025), reflecting selective distribution activity across the French SME portfolio. The platform tracks 3 funds and 45 active portfolio companies across the multi-vintage programme.
Frequently asked questions
- What investment strategy does InnovaFonds focus on?
- InnovaFonds focuses on Growth, Buyout strategies in the private equity space.
- How many portfolio companies does InnovaFonds have?
- InnovaFonds has 36 active portfolio companies and 18 completed exits and 5 funds tracked on GP Intel.
- Where is InnovaFonds headquartered?
- InnovaFonds is headquartered in PARIS, France.
- What is InnovaFonds's assets under management?
- InnovaFonds manages approximately €600M in assets under management.
- When was InnovaFonds founded?
- InnovaFonds was founded in 2008.
- What sectors does InnovaFonds invest in?
- InnovaFonds invests across Industrials, Business Services, Software.
- What are InnovaFonds's recent exits?
- Recent realized exits by InnovaFonds include: SNIC Technologies (2026) to EMZ Partners; Tera Environnement (2025) to CELNOR France; Beton Solutions Mobiles (2023) to Basaltes; BSM (2023) to Basaltes; RAIL INDUSTRIES (2023) to Innovafonds Aura; Physitek Devices (2021) to Management and Andera Acto; Avencall (2020) to Wisper; ECM Technologies (2020) to Garibaldi Participations, CERAE and A Plus Finance.
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