Lazard Elaia Capital
Joint venture launched in April 2024 between Lazard (US investment bank, 75 percent) and Elaia Partners (French VC founded 2002, 25 percent); deploys EUR 420M across Lazard Elaia Capital Fund I (vintage 2025 EUR 300M Growth Series C+ to buyout) + Elaia Digital Venture Fund V (vintage 2024 EUR 120M early-to-mid stage VC) + the Elaia Legacy Portfolio of pre-JV Elaia investments (Criteo IPO 2013, Mirakl 2012 unicorn, Shift Technology 2014 active).
Lazard Elaia Capital is a Paris growth equity firm with €420M AUM, 100 active companies and 19 exits.
- ·14 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 18 realized deals: 4 years.
Sector breakdown
119 companiesGeography breakdown
9 geographiesKey facts
Coverage notes
3 funds tracked, 119 portfolio companies (100 active · 19 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Lazard Elaia Capital has raised, with its portfolio companies. Hand-checked from public filings.
Lazard Elaia Capital Fund IGrowth2025€300M58 assetsGrowth2025 · 1yr€300M58–
Unrealized
58 held| Company | Entry |
|---|---|
| Adomik AdTech · France | – |
| Armis AdTech · France | – |
| Arsen Cybersecurity · France | – |
| Azalea Vision Healthcare · Belgium | 2021 |
| Case Law Analytics Fintech · France | – |
| Cien USA | – |
| CodeNotary Cybersecurity · USA | – |
| Corporatings Fintech · France | – |
| Cyrebro Cybersecurity · Israel | – |
| DentalMonitoring MedTech · France | 2021 |
| Dexstr Healthcare · France | – |
| EikoSim Software · France | – |
| Ekinnox Healthcare · France | – |
| EyePick France | – |
| FenTech France | – |
| Golaem France | – |
| hema.to Healthcare · Germany | – |
| HeuriTech AI/ML · France | – |
| Hypatos Germany | – |
| Hyvibe France | – |
| I-Virtual France | – |
| Inato Healthcare · France | – |
| Kheops France | – |
| Lighthouse AI/ML · USA | – |
| LynxCare Healthcare · Belgium | – |
| Marfeel AdTech · Spain | – |
| MyC Healthcare · France | – |
| Mytraffic France | – |
| NANO Corp. Cybersecurity · France | – |
| ncScale Cybersecurity · France | – |
| OGOsecurity Cybersecurity · France | – |
| Olympe.legal Fintech · France | – |
| Pandacraft France | – |
| Pili France | – |
| Pixacare Healthcare · France | – |
| Pixyl France | – |
| Pricing HUB Fintech · France | – |
| Qbeast Software · Spain | – |
| Quantum Dice Software · UK | 2021 |
| Rapydo Cybersecurity · Israel | – |
| Ryax Technologies Software · France | – |
| Sancare Healthcare · France | – |
| SeqOne Healthcare · France | – |
| Sereema Energy · France | – |
| Sim&Cure Healthcare · France | – |
| Situ8ed AdTech · France | – |
| Splio AdTech · France | – |
| Streambased Software · UK | 2025 |
| SUN ZU Lab Fintech · France | – |
| SYOS France | – |
| Tabnine Software · Israel | – |
| talent.io Fintech · France | – |
| Therapixel Healthcare · France | – |
| Tinyclues AdTech · France | – |
| Ullo Healthcare · France | – |
| Verra USA | – |
| Vertesia France | – |
| Zymvol Biomodeling Biotech · Spain | – |
Elaia Digital Venture Fund VVC2024€120M6 assetsVC2024 · 2yr€120M6–
Elaia Legacy FundHarvestingVC2002€200M36 assets19 exitsVC2002 · 24yr€200M3619
Unrealized
36 held| Company | Entry |
|---|---|
| Agriconomie AgTech · France | 2015 |
| Alice & Bob Deep Tech · France | 2020 |
| Aqemia Biotech · France | 2020 |
| Aviwell Biotech · France | 2024 |
| Continuity InsurTech · France | 2021 |
| Djust E-commerce · France | 2021 |
| Doccla HealthTech · UK | 2024 |
| dottxt AI/ML · France | 2023 |
| Enodia Therapeutics Biotech · France | 2026 |
| FlexAI Cloud Infrastructure · France | 2024 |
| GetVocal AI AI/ML · France | 2025 |
| Giskard AI/ML · France | 2022 |
| H AI AI/ML · France | 2024 |
| HarfangLab Cybersecurity · France | 2021 |
| Hummink Industrials · France | 2023 |
| iBanFirst Fintech · Belgium | 2020 |
| Indeez InsurTech · France | 2022 |
| inHEART HealthTech · France | 2020 |
| Linkup TMT · France | 2024 |
| Mimic Industrials · Switzerland | 2024 |
| Mirakl E-commerce · France | 2012 |
| Mitiga Solutions ClimateTech · Spain | 2024 |
| Moments Lab AI/ML · France | 2019 |
| Namla Cloud Infrastructure · France | 2022 |
| NcodiN Deep Tech · France | 2024 |
| Nijta AI/ML · France | 2024 |
| Ornikar EdTech · France | 2014 |
| Primaa MedTech · France | 2019 |
| Proxima Fusion ClimateTech · Germany | 2023 |
| QantEv InsurTech · France | 2020 |
| SandboxAQ Cybersecurity · US | 2022 |
| SESAMm Data & Analytics · France | 2023 |
| Seyna InsurTech · France | 2022 |
| Shift Technology InsurTech · France | 2014 |
| Tilak Healthcare HealthTech · France | 2023 |
| Traefik Labs DevTools · France | 2017 |
Realized
19 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Agnitio Cybersecurity · Spain | 2009 | 2016 | Trade Sale | Nuance Communications | – |
| Cosmian Cybersecurity · France | 2019 | 2025 | Trade Sale | Atos | – |
| Criteo TMT · France | 2007 | 2013 | IPO | Nasdaq | – |
| EasyRECrue HR Tech · France | 2017 | 2020 | Trade Sale | iCIMS | – |
| Elevo HR Tech · France | 2021 | 2025 | Trade Sale | Assessio | – |
| Enso Security Cybersecurity · Israel | 2020 | 2023 | Trade Sale | Snyk | – |
| Gleamer MedTech · France | 2019 | 2026 | Trade Sale | RadNet (NASDAQ: RDNT) | – |
| Greenbids AdTech · France | 2023 | 2025 | Trade Sale | Perion Network | – |
| Holded SaaS · Spain | 2021 | 2021 | Trade Sale | Visma | – |
| Hyperlex LegalTech · France | 2017 | 2022 | Trade Sale | DiliTrust | – |
| Mablink Bioscience Biotech · France | 2021 | 2024 | Trade Sale | Eli Lilly | – |
| Nuclia AI/ML · Spain | 2022 | 2025 | Trade Sale | Progress Software | – |
| Orchestra Networks Data & Analytics · France | 2007 | 2018 | Trade Sale | TIBCO Software | – |
| Quortex Telecom · France | 2018 | 2022 | Trade Sale | Synamedia | – |
| Shipup SaaS · France | 2020 | 2022 | Trade Sale | Global Blue | – |
| Sonio HealthTech · France | 2022 | 2024 | Trade Sale | Samsung Medison | – |
| Teads AdTech · France | 2013 | 2017 | Trade Sale | Altice | – |
| Vibe.co TMT · France | 2022 | 2026 | Trade Sale | Walmart | – |
| Volterra (Acorus Networks) Cybersecurity · France | 2018 | 2021 | Trade Sale | F5 Networks | – |
About Lazard Elaia Capital
Lazard Elaia Capital is a joint venture launched in April 2024 between Lazard (US investment bank, 75 percent) and Elaia Partners (French VC founded 2002, 25 percent), with €420 million of assets under management as of December 2024. The partnership deploys across Lazard Elaia Capital Fund I (vintage 2025, €300M Growth Series C+ to buyout) plus complementary Elaia vintage funds, combining institutional Lazard banking heritage with Elaia's European technology venture expertise.
Investment thesis
Lazard Elaia Capital targets European technology companies at growth equity and selective buyout stages, with equity tickets typically ranging from €20 million to €80 million per transaction. The platform combines Lazard's institutional investment banking network with Elaia's multi-decade European tech VC pattern recognition, enabling growth-stage commitments in profitable scaling European tech companies that have outgrown traditional VC funding rounds.
Recent activity
The platform tracks 3 funds, 14 active portfolio companies and 1 realised exit across the inaugural deployment of the Lazard Elaia partnership. As a recently launched platform (April 2024 JV), the firm is in the active deployment phase with realised exits expected to materialise progressively.
Frequently asked questions
- What investment strategy does Lazard Elaia Capital focus on?
- Lazard Elaia Capital focuses on Growth, VC strategies in the private equity space.
- How many portfolio companies does Lazard Elaia Capital have?
- Lazard Elaia Capital has 100 active portfolio companies and 19 completed exits and 3 funds tracked on GP Intel.
- Where is Lazard Elaia Capital headquartered?
- Lazard Elaia Capital is headquartered in Paris, France.
- What is Lazard Elaia Capital's assets under management?
- Lazard Elaia Capital manages approximately €420M in assets under management.
- When was Lazard Elaia Capital founded?
- Lazard Elaia Capital was founded in 2024.
- What sectors does Lazard Elaia Capital invest in?
- Lazard Elaia Capital invests across Software, Healthcare, Business Services.
- What are Lazard Elaia Capital's recent exits?
- Recent realized exits by Lazard Elaia Capital include: Gleamer (2026) to RadNet (NASDAQ: RDNT); Vibe.co (2026) to Walmart; Cosmian (2025) to Atos; Elevo (2025) to Assessio; Greenbids (2025) to Perion Network; Nuclia (2025) to Progress Software; Mablink Bioscience (2024) to Eli Lilly; Sonio (2024) to Samsung Medison.
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