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).
Key facts
Recent exits
Coverage notes
3 funds tracked, 58 portfolio companies (39 active · 19 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
58 companiesFunds & portfolio
Every fund Lazard Elaia Capital has raised, with its portfolio companies. Hand-checked from public filings.
Lazard Elaia Capital Fund IGrowth2025 · 1yr€300M1 active
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Healthcare |  France | 2021 |
France· Entry 2021Elaia Digital Venture Fund VVC2024 · 2yr€120M2 active
Elaia Legacy FundVCHarvesting2002 · 24yr€200M36 active · 19 realized
Unrealized
36 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| AgTech | France | 2015 | |
| TMT | France | 2020 | |
| Healthcare | France | 2020 | |
| Biotech | France | 2024 | |
| InsurTech | France | 2021 | |
| TMT | France | 2021 | |
| HealthTech |  UK | 2024 | |
| AI/ML | France | 2023 | |
| Biotech | France | 2026 | |
| Cloud Infrastructure | France | 2024 | |
| AI/ML | France | 2025 | |
| AI/ML | France | 2022 | |
| AI/ML | France | 2024 | |
| Cybersecurity | France | 2021 | |
| Industrials | France | 2023 | |
| Fintech |  Belgium | 2020 | |
| InsurTech | France | 2022 | |
| HealthTech | France | 2020 | |
| TMT | France | 2024 | |
| Industrials |  Switzerland | 2024 | |
| TMT | France | 2012 | |
| ClimateTech |  Spain | 2024 | |
| AI/ML | France | 2019 | |
| Cloud Infrastructure | France | 2022 | |
| Industrials | France | 2024 | |
| AI/ML | France | 2024 | |
| EdTech | France | 2014 | |
| Healthcare | France | 2019 | |
| Energy |  Germany | 2023 | |
| InsurTech | France | 2020 | |
| Cybersecurity |  US | 2022 | |
| Data & Analytics | France | 2023 | |
| InsurTech | France | 2022 | |
| TMT | France | 2014 | |
| HealthTech | France | 2023 | |
| DevTools | France | 2017 |
France· Entry 2015France· Entry 2020France· Entry 2020France· Entry 2024France· Entry 2021France· Entry 2021UK· Entry 2024France· Entry 2023France· Entry 2026France· Entry 2024France· Entry 2025France· Entry 2022France· Entry 2024France· Entry 2021France· Entry 2023Belgium· Entry 2020France· Entry 2022France· Entry 2020France· Entry 2024Switzerland· Entry 2024France· Entry 2012Spain· Entry 2024France· Entry 2019France· Entry 2022France· Entry 2024France· Entry 2024France· Entry 2014France· Entry 2019Germany· Entry 2023France· Entry 2020US· Entry 2022France· Entry 2023France· Entry 2022France· Entry 2014France· Entry 2023France· Entry 2017Realized
19 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Cybersecurity | Spain | 2009 | 2016 | Trade Sale | – | ||
| Cybersecurity | France | 2019 | 2025 | Trade Sale | – | ||
| TMT | France | 2007 | 2013 | IPO | – | ||
| HR Tech | France | 2017 | 2020 | Trade Sale | – | ||
| HR Tech | France | 2021 | 2025 | Trade Sale | – | ||
| Cybersecurity | Israel | 2020 | 2023 | Trade Sale | – | ||
| Healthcare | France | 2019 | 2026 | Trade Sale | – | ||
| AdTech | France | 2023 | 2025 | Trade Sale | – | ||
| SaaS | Spain | 2021 | 2021 | Trade Sale | – | ||
| LegalTech | France | 2017 | 2022 | Trade Sale | – | ||
| Biotech | France | 2021 | 2024 | Trade Sale | – | ||
| AI/ML | Spain | 2022 | 2025 | Trade Sale | – | ||
| Data & Analytics | France | 2007 | 2018 | Trade Sale | – | ||
| TMT | France | 2018 | 2022 | Trade Sale | – | ||
| SaaS | France | 2020 | 2022 | Trade Sale | – | ||
| HealthTech | France | 2022 | 2024 | Trade Sale | – | ||
| AdTech | France | 2013 | 2017 | Trade Sale | – | ||
| TMT | France | 2022 | 2026 | Trade Sale | – | ||
| Cybersecurity | France | 2018 | 2021 | Trade Sale | – |
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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. Detailed buyer names and multiple data available on Pro at €29/month.
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France·€470MGet the full picture on Lazard Elaia Capital.
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