Isatis Capital
Isatis Capital is an independent Paris-based private equity firm created in 2013 by the team that previously managed the direct SME funds of BNP Paribas Private Equity. It provides growth capital and small-cap buyout / OBO financing (up to about 16m EUR per deal) to profitable, growing French unlisted SMEs in digital, healthcare and engineering, aiming to turn them into mid-market leaders (ETI).
Isatis Capital is a Paris growth equity firm with €480M AUM, 35 active companies and 28 exits.
- ·16 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 25 realized deals: 5 years.
Sector breakdown
63 companiesGeography breakdown
4 geographiesKey facts
Recent exits
Isatis Capital sold Levage Développement (Groupe SECAL) to VINCI Energies in 2026 after 7 years.
Isatis Capital sold Senef to Oakley Capital in 2026 after 3 years.
Isatis Capital sold Nova Consulting to Talan in 2025 after 7 years.
Isatis Capital sold Upsideo to FASST Group in 2025 after 4 years.
Coverage notes
1 fund tracked, 63 portfolio companies (35 active · 28 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Isatis Capital has raised, with its portfolio companies. Hand-checked from public filings.
FCPR Isatis Capital Vie & RetraiteActiveGrowth201735 assets28 exitsGrowth2017 · 9yr–3528
Unrealized
35 held| Company | Entry |
|---|---|
| 2AST Industrials · France | 2024 |
| 3ma group Business Services · France | 2017 |
| 3R Industries Industrials · France | 2024 |
| Adelyce HR Tech · France | 2026 |
| Ailancy Business Services · France | 2021 |
| Ametys Beauté MedTech · France | 2018 |
| Antelec Aerospace & Defence · France | 2023 |
| AXE Informatique IT Services · France | 2025 |
| B-Hive Business Services · France | 2020 |
| Bioswell AgTech · France | 2023 |
| Captivea IT Services · France | 2026 |
| CET Ingenierie Business Services · France | 2022 |
| Digital Value IT Services · France | 2021 |
| Ekstend Group Business Services · France | 2019 |
| Enertion Energy · France | 2022 |
| Fatec Group Business Services · France | 2021 |
| Flexico Industrials · France | 2012 |
| Fogale Sensors Industrials · France | 2024 |
| Greenoffice Business Services · France | 2024 |
| Groupe IPI (International Pump Industries) Industrials · Signes, Var, France | 2012 |
| Groupe Reference Business Services · France | 2020 |
| HPS International Industrials · France | 2024 |
| Immed MedTech · France | 2022 |
| iXnov IT Services · France | 2022 |
| Mediameeting TMT · France | 2015 |
| Mont-Blanc Matériaux Industrials · Demi-Quartier (Megève), Haute-Savoie, France | 2018 |
| NCS Systems Industrials · France | 2022 |
| One Prepaid Fintech · France | 2025 |
| Pitchy SaaS · France | 2023 |
| Sagitta Pharma Pharma · France | 2021 |
| Sauvale Production Consumer · France | 2019 |
| Saveurs et Vie Healthcare · France | 2013 |
| Sources Industrials · France | 2025 |
| Synqo Energy · France | 2021 |
| Wiiisdom Data & Analytics · France | 2022 |
Realized
28 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Ascaudit Groupe Business Services · France | 2009 | 2016 | Secondary | Siparex | – |
| Cofluent Design Deep Tech · France | 2007 | 2011 | Trade Sale | Mentor Graphics | – |
| Consortium Ménager Parisien (CMP Paris) Consumer · France | – | 2017 | MBO | Tirman family | – |
| Daveo IT Services · France | 2016 | 2019 | Trade Sale | Magellan Partners | – |
| DiaDom Healthcare · France | – | 2018 | Trade Sale | La Poste Groupe | – |
| Expway Software · France | 2015 | 2019 | Trade Sale | ENENSYS Technologies | – |
| Foederis HR Tech · France | 2017 | 2022 | Trade Sale | Septeo | – |
| Foederis Group SaaS · France | 2017 | 2022 | Trade Sale | Septeo Group | – |
| Global Imaging On Line MedTech · France | 2014 | 2015 | Trade Sale | Groupe Numerix | – |
| Graitec SaaS · France | 2014 | 2020 | Secondary | Apax Partners | – |
| Groupe ELOI MedTech · France | 2018 | 2023 | MBO | Rudolf Mouradian | – |
| Groupe Numerix MedTech · France | 2015 | 2017 | Trade Sale | MNH Group | – |
| Levage Développement (Groupe SECAL) Industrials · France | 2019 | 2026 | Trade Sale | VINCI Energies | – |
| LM2S Logistics · France | 2016 | 2022 | Trade Sale | Staci Group | – |
| M-Cube France Software · France | – | 2019 | Trade Sale | M-Cube | – |
| Metaline IT Services · France | 2017 | 2022 | Secondary | LFPI Gestion | – |
| Milexia Aerospace & Defence · France | 2018 | 2023 | Secondary | Credit Mutuel Equity | – |
| Next Group Education · France | 2018 | 2022 | Trade Sale | Cegos | – |
| Nexto TMT · Marseille, France | 2009 | 2013 | Trade Sale | Fiducial | – |
| Nova Consulting Business Services · France | 2018 | 2025 | Trade Sale | Talan | – |
| Noveane IT Services · France | 2013 | 2022 | Trade Sale | Scalian | – |
| Parnasse Education Education · France | 2018 | 2023 | Secondary | Generis Capital Partners and Ardian Growth | – |
| Senef SaaS · France | 2023 | 2026 | Secondary | Oakley Capital | – |
| Spigraph Group TMT · France | 2011 | 2018 | Trade Sale | Mediapps Innovation / Everteam | – |
| Texys Group Industrials · France | 2020 | 2024 | Trade Sale | Fogale Sensors | – |
| Upsideo Fintech · France | 2021 | 2025 | Trade Sale | FASST Group | – |
| Winback Group MedTech · France | 2014 | 2021 | Secondary | CAPZA | – |
| Zenika IT Services · France | 2018 | 2022 | Secondary | Bpifrance (with Socadif) | – |
About Isatis Capital
Isatis Capital is a French private equity firm with €1 billion of assets under management as of December 2024, headquartered in Paris. Founded in 2013, the firm focuses on buyout and growth equity investments in European mid-cap businesses across TMT, industrials, software, healthcare and business services, deploying capital from successive flagship funds with institutional limited partner support.
Investment thesis
Isatis Capital deploys buyout capital into European mid-cap and small-cap businesses across TMT, industrials, software, healthcare and business services, targeting majority equity positions in profitable companies with clear value-creation runways. Investment focus emphasises operational improvement, selective bolt-on M&A acceleration and selective international expansion across France and selectively across Europe, with capital deployed from successive flagship funds backed by institutional limited partners.
Recent activity
Recent realised exits include AMETYS BEAUTE (software, 2024), GREEN BUSINESS INTERNATIONAL (software, 2024), S2F FLEXICO (software, 2024) and Saveurs et Vie (healthcare, 2024). The platform tracks 8 fund vehicles, 93 active portfolio companies and 23 realised exits across the strategy's history.
Frequently asked questions
- What investment strategy does Isatis Capital focus on?
- Isatis Capital focuses on Growth, Buyout, VC strategies in the private equity space.
- How many portfolio companies does Isatis Capital have?
- Isatis Capital has 35 active portfolio companies and 28 completed exits and 1 fund tracked on GP Intel.
- Where is Isatis Capital headquartered?
- Isatis Capital is headquartered in Paris, France.
- What is Isatis Capital's assets under management?
- Isatis Capital manages approximately €480M in assets under management.
- When was Isatis Capital founded?
- Isatis Capital was founded in 2013.
- What sectors does Isatis Capital invest in?
- Isatis Capital invests across Software, Healthcare, Industrials, Business Services, TMT.
- What are Isatis Capital's recent exits?
- Recent realized exits by Isatis Capital include: Levage Développement (Groupe SECAL) (2026) to VINCI Energies; Senef (2026) to Oakley Capital; Nova Consulting (2025) to Talan; Upsideo (2025) to FASST Group; Texys Group (2024) to Fogale Sensors; Groupe ELOI (2023) to Rudolf Mouradian; Milexia (2023) to Credit Mutuel Equity; Parnasse Education (2023) to Generis Capital Partners and Ardian Growth.
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