NextStage AM
NextStage AM is an independent asset management company based in Paris, founded in 2002, specializing in multi-strategy private equity focused on innovative and growth-driven mid-market companies in France and Europe. As of June 2024, it manages nearly €8 billion in assets and supports a limited number of SMEs and intermediate-sized companies to accelerate their development and innovation capabilities.
AUM
€11.6B
Funds
10
vintages 2015–2026
Portfolio
79
Exits
62
SectorsSoftwareBusiness ServicesHealthcareFinancialsIndustrialsTMTConsumer
Key facts
Recent exits
COGRA QUARANTE HUIT
Software · 2025 · 8yr hold
Locamod
TMT · 2025 · 6yr hold
MoonBikes
Consumer · 2025 · 4yr hold
Numberly – Groupe 1000mercis
TMT · 2025 · 10yr hold
Coverage notes
10 funds tracked, 141 portfolio companies (79 active · 62 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund NextStage AM has raised, with its portfolio companies. Hand-checked from public filings.
10 funds
FCPI NextStage CAP 2026Growth2026 · 0yr0 active
No portfolio companies tracked yet.
FPCI NextStage Championnes IVGrowth2025 · 1yr€108M3 active
Unrealized
3 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| EMARGENCE | Business Services | France | 2021 |
| Optimix / Maxxing | TMT | France | 2025 |
| Société des Eaux Minerales d Arcachon | – | – | 2026 |
EMARGENCEActive
Business ServicesFrance· Entry 2021
Optimix / MaxxingActive
TMTFrance· Entry 2025
· Entry 2026
NextStage Horizons2024 · 2yr1 active
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| NEXTSTAGE HORIZONS | Business Services | France | 2024 |
NEXTSTAGE HORIZONSActive
Business ServicesFrance· Entry 2024
FPCI NextStage Capital Entrepreneur IIIGrowth2024 · 2yr€100M3 active
Unrealized
3 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Bichard Equipement | TMT | France | 2025 |
| EVOLUDERM | TMT | France | 2025 |
| Javelot | TMT | France | 2022 |
Bichard EquipementActive
TMTFrance· Entry 2025
EVOLUDERMActive
TMTFrance· Entry 2025
JavelotActive
TMTFrance· Entry 2022
FCPI NextStage Découvertes 2022-20232022 · 4yr0 active
No portfolio companies tracked yet.
Pepites & Territoires by AXAGrowth2021 · 5yr€500M7 active
Unrealized
7 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Adopt Parfums | Consumer | France | 2022 |
| CLAREO LIGHTING | TMT | France | 2024 |
| Eurobio Scientific | TMT | France | 2022 |
| Groupe Tera | TMT | France | 2022 |
| MEDIPRIX | TMT | France | 2023 |
| Port Adhoc | Business Services | France | 2022 |
| WIISMILEO | Business Services | France | 2022 |
Adopt ParfumsActive
ConsumerFrance· Entry 2022
CLAREO LIGHTINGActive
TMTFrance· Entry 2024
Eurobio ScientificActive
TMTFrance· Entry 2022
Groupe TeraActive
TMTFrance· Entry 2022
MEDIPRIXActive
TMTFrance· Entry 2023
Port AdhocActive
Business ServicesFrance· Entry 2022
WIISMILEOActive
Business ServicesFrance· Entry 2022
FPCI NextStage Championnes IIIGrowth2020 · 6yr€135M12 active
Unrealized
12 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| AVENTA | Business Services | France | 2023 |
| EFALIA | TMT | France | 2024 |
| Finacca | TMT | France | 2021 |
| GREENOFFICE | Business Services | France | 2024 |
| Groupe DMPS (Mondial Piscine) | TMT | France | 2022 |
| Infolegale | TMT | France | 2022 |
| Inpart | HealthTech | France | 2020 |
| JurisCampus – Platinum Executive Education | Business Services | France | 2025 |
| Mathematic | Business Services | France | 2020 |
| Solstyce | ClimateTech | France | 2021 |
| WiiSmile | TMT | France | 2020 |
| Xerfi | TMT | France | 2021 |
AVENTAActive
Business ServicesFrance· Entry 2023
EFALIAActive
TMTFrance· Entry 2024
FinaccaActive
TMTFrance· Entry 2021
GREENOFFICEActive
Business ServicesFrance· Entry 2024
TMTFrance· Entry 2022
InfolegaleActive
TMTFrance· Entry 2022
InpartActive
HealthTechFrance· Entry 2020
Business ServicesFrance· Entry 2025
MathematicActive
Business ServicesFrance· Entry 2020
SolstyceActive
ClimateTechFrance· Entry 2021
WiiSmileActive
TMTFrance· Entry 2020
XerfiActive
TMTFrance· Entry 2021
FCPR NextStage Rendement II2020 · 6yr€30M0 active · 3 realized
Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| COGRA QUARANTE HUIT | Software | France | 2017 | 2025 | Secondary | – | |
| GRENADE & SPARKS | Software | France | 2015 | 2018 | Trade Sale | – | |
| H.T.I. HOCHE TRIOMPHE INDUSTRIE | Software | France | 2013 | 2019 | Trade Sale | – |
NextStage Croissance2016 · 10yr€157M1 active
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| NEXTSTAGE CROISSANCE | Business Services | France | 2016 |
NEXTSTAGE CROISSANCEActive
Business ServicesFrance· Entry 2016
NextStage EvergreenGrowth2015 · 11yr€500M52 active · 59 realized
Unrealized
52 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| ABATILLES | Business Services | France | 2026 |
| Acorus | TMT | France | 2017 |
| Aerophile | TMT | France | 2023 |
| ALPHA MOS | TMT | France | 2020 |
| Altheora | TMT | France | 2022 |
| Arcure | Industrials | France | 2022 |
| Arkose | Business Services | France | 2020 |
| ARKOSE&CO | Business Services | France | 2018 |
| Atream | TMT | France | 2019 |
| Bagatelle | Consumer | France | 2019 |
| BIO-UV | TMT | France | 2025 |
| Boa Concept | TMT | France | 2019 |
| BOW | TMT | France | 2020 |
| CARTONNERIE MODERNE | TMT | France | 2010 |
| Demander Justice | Business Services | France | 2018 |
| DHH | TMT | France | 2025 |
| DMS Group | Healthcare | France | 2025 |
| Dream Yacht Worldwide | Business Services | France | 2017 |
| EasyMile | TMT | France | 2021 |
| ELES | TMT | France | 2022 |
| FAE TECHNOLOGY | TMT | France | 2023 |
| FAGUO | Consumer | France | 2023 |
| Finalease Group Security | Business Services | France | 2021 |
| FORPROF | Business Services | France | 2024 |
| GenOway | TMT | France | 2021 |
| Hunyvers | Consumer | France | 2019 |
| Invibes Advertising | TMT | France | 2021 |
| IRBIS GROUP | Consumer | France | 2018 |
| Kerala | Business Services | France | 2015 |
| Kumulus Vape | Consumer | France | 2022 |
| Lonsdale | Business Services | France | 2016 |
| NaturaBuy | TMT | France | 2017 |
| NEXTSTAGE EVERGREEN | Energy | France | 2022 |
| Oodrive | TMT | France | 2017 |
| ORION SANTE | Healthcare | France | 2023 |
| PEERS GROUP | TMT | France | 2024 |
| Placeshaker | TMT | France | 2022 |
| Quadriplay | TMT | France | 2010 |
| Qwamplify | TMT | France | 2016 |
| Ski Company (SKiSET / Skimium / Netski) | Consumer | France | 2026 |
| Skipper NDT | TMT | France | 2022 |
| Smaio | TMT | France | 2019 |
| Sophie Lebreuilly | Business Services | France | 2024 |
| Sports Company | Consumer | France | 2026 |
| Steel Shed Solutions | Business Services | France | 2019 |
| SYS-DAT GROUP | TMT | France | 2024 |
| The Blockchain Group | TMT | France | 2016 |
| UV Germi | TMT | France | 2020 |
| Vinci Technologies | TMT | France | 2025 |
| WALLIX | TMT | France | 2023 |
| Wolf Lingerie | TMT | France | 2022 |
| YSEOP | TMT | France | 2022 |
ABATILLESActive
Business ServicesFrance· Entry 2026
AcorusActive
TMTFrance· Entry 2017
AerophileActive
TMTFrance· Entry 2023
ALPHA MOSActive
TMTFrance· Entry 2020
AltheoraActive
TMTFrance· Entry 2022
ArcureActive
IndustrialsFrance· Entry 2022
ArkoseActive
Business ServicesFrance· Entry 2020
ARKOSE&COActive
Business ServicesFrance· Entry 2018
AtreamActive
TMTFrance· Entry 2019
BagatelleActive
ConsumerFrance· Entry 2019
BIO-UVActive
TMTFrance· Entry 2025
Boa ConceptActive
TMTFrance· Entry 2019
BOWActive
TMTFrance· Entry 2020
CARTONNERIE MODERNEActive
TMTFrance· Entry 2010
Demander JusticeActive
Business ServicesFrance· Entry 2018
DHHActive
TMTFrance· Entry 2025
DMS GroupActive
HealthcareFrance· Entry 2025
Dream Yacht WorldwideActive
Business ServicesFrance· Entry 2017
EasyMileActive
TMTFrance· Entry 2021
ELESActive
TMTFrance· Entry 2022
FAE TECHNOLOGYActive
TMTFrance· Entry 2023
FAGUOActive
ConsumerFrance· Entry 2023
Finalease Group SecurityActive
Business ServicesFrance· Entry 2021
FORPROFActive
Business ServicesFrance· Entry 2024
GenOwayActive
TMTFrance· Entry 2021
HunyversActive
ConsumerFrance· Entry 2019
Invibes AdvertisingActive
TMTFrance· Entry 2021
IRBIS GROUPActive
ConsumerFrance· Entry 2018
KeralaActive
Business ServicesFrance· Entry 2015
Kumulus VapeActive
ConsumerFrance· Entry 2022
LonsdaleActive
Business ServicesFrance· Entry 2016
NaturaBuyActive
TMTFrance· Entry 2017
NEXTSTAGE EVERGREENActive
EnergyFrance· Entry 2022
OodriveActive
TMTFrance· Entry 2017
ORION SANTEActive
HealthcareFrance· Entry 2023
PEERS GROUPActive
TMTFrance· Entry 2024
PlaceshakerActive
TMTFrance· Entry 2022
QuadriplayActive
TMTFrance· Entry 2010
QwamplifyActive
TMTFrance· Entry 2016
ConsumerFrance· Entry 2026
Skipper NDTActive
TMTFrance· Entry 2022
SmaioActive
TMTFrance· Entry 2019
Sophie LebreuillyActive
Business ServicesFrance· Entry 2024
Sports CompanyActive
ConsumerFrance· Entry 2026
Steel Shed SolutionsActive
Business ServicesFrance· Entry 2019
SYS-DAT GROUPActive
TMTFrance· Entry 2024
The Blockchain GroupActive
TMTFrance· Entry 2016
UV GermiActive
TMTFrance· Entry 2020
Vinci TechnologiesActive
TMTFrance· Entry 2025
WALLIXActive
TMTFrance· Entry 2023
Wolf LingerieActive
TMTFrance· Entry 2022
YSEOPActive
TMTFrance· Entry 2022
Realized
59 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Aasset Security | TMT | France | 2010 | 2012 | Trade Sale | – | |
| Abington Advisory | TMT | France | 2015 | 2019 | Trade Sale | – | |
| ACR Group | Business Services | France | 2010 | 2014 | Trade Sale | – | |
| Alpiski | Business Services | France | 2004 | 2005 | Trade Sale | – | |
| ANEVIA | TMT | France | 2012 | 2020 | Trade Sale | – | |
| Attestation Légale | Business Services | France | 2018 | 2022 | Secondary | – | |
| Aubay | TMT | France | 2006 | 2009 | Secondary | – | – |
| Botanica | Business Services | France | 2014 | 2021 | Trade Sale | – | |
| Cap’Cinéma | TMT | France | 2008 | 2017 | Trade Sale | – | |
| Climpact | TMT | France | 2014 | 2017 | Trade Sale | – | |
| COLORADO | TMT | France | 2014 | 2023 | Trade Sale | – | |
| CoorpAcademy | TMT | France | 2018 | 2022 | Trade Sale | – | |
| Delamaison | Consumer | France | 2009 | 2012 | Trade Sale | – | |
| Delta Drone | TMT | France | 2015 | 2023 | Secondary | – | – |
| Drouot Digital | TMT | France | 2014 | 2021 | Trade Sale | – | |
| Ecritel Group | TMT | France | 2014 | 2019 | Secondary | – | |
| Efeso Consulting | TMT | France | 2010 | 2019 | Secondary | – | |
| Enertime | TMT | France | 2014 | 2024 | Liquidation | – | – |
| ESI Group | TMT | France | 2006 | 2024 | Trade Sale | – | |
| EXPERTISSIM | Software | France | 2017 | 2021 | Trade Sale | – | |
| Fermentalg | TMT | France | 2015 | 2024 | Secondary | – | – |
| FILLON ENTREPRISE | Software | France | 2016 | 2017 | Trade Sale | – | |
| Fillon Technologies | TMT | France | 2006 | 2021 | MBO | – | |
| Fountaine Pajot (La Compagnie du Catamaran) | Business Services | France | 2015 | 2020 | Secondary | – | |
| Gaussin | Logistics | France | 2011 | 2024 | Liquidation | – | – |
| Glass Partners Solutions | Business Services | France | 2017 | 2022 | Secondary | – | |
| Greenflex | ClimateTech | France | 2013 | 2019 | Trade Sale | – | |
| Groupe Gruau | TMT | France | 2007 | 2021 | MBO | – | |
| Harvest | TMT | France | 2012 | 2019 | Secondary | – | |
| Infotel | TMT | France | 2007 | 2023 | Secondary | – | – |
| Keyyo | Business Services | France | 2012 | 2019 | Trade Sale | – | |
| Konbini | TMT | France | 2016 | 2024 | Trade Sale | – | |
| KXEN | TMT | France | 2010 | 2013 | Trade Sale | – | |
| Le Cèdre Rouge | Consumer | France | 2008 | 2023 | Secondary | – | |
| Le Chatelard 1802 | Business Services | France | 2012 | 2018 | Trade Sale | – | |
| Locamod | TMT | France | 2019 | 2025 | Liquidation | – | |
| LONSDALE GROUP | Software | France | 2017 | 2018 | Trade Sale | – | |
| Makheia Group | TMT | France | 2007 | 2023 | Secondary | – | – |
| Micropole Univers | Business Services | France | 2010 | 2024 | Trade Sale | – | |
| MoonBikes | Consumer | France | 2021 | 2025 | Trade Sale | – | |
| Neolife | TMT | France | 2013 | 2022 | Secondary | – | – |
| Nexeya | Industrials | France | – | 2013 | Secondary | – | |
| Numberly – Groupe 1000mercis | TMT | France | 2015 | 2025 | Secondary | – | |
| Once For All | TMT | France | 2018 | 2022 | Secondary | – | |
| Ordissimo | TMT | France | 2010 | 2024 | Secondary | – | – |
| Paulic Meunerie | TMT | France | 2016 | 2020 | IPO | – | – |
| Pharmagest Interactive | TMT | France | 2007 | 2021 | Secondary | – | – |
| Réflectiv | Business Services | France | 2016 | 2022 | MBO | – | |
| Resto-in | Consumer | France | 2014 | 2015 | Trade Sale | – | |
| Soléo Services | TMT | France | 2012 | 2021 | Trade Sale | – | |
| STPI | TMT | France | 2005 | 2021 | Trade Sale | – | |
| Streamwide | TMT | France | 2007 | 2023 | Secondary | – | – |
| Thermador | Consumer | France | 2008 | 2018 | Secondary | – | – |
| Trace | TMT | France | 2011 | 2014 | Trade Sale | – | |
| Travel Technology Interactive | TMT | France | 2009 | 2024 | Trade Sale | – | |
| Vulcain | TMT | France | 2011 | 2016 | Trade Sale | – | |
| Wavestone | TMT | France | 2012 | 2023 | Secondary | – | – |
| Winfarm | Consumer | France | 2018 | 2023 | Secondary | – | – |
| Xiring | Industrials | France | 2009 | 2012 | Trade Sale | – |
Fountaine Pajot (La Compagnie du Catamaran)Exited 2020
Business ServicesFrance· Entry 2015
Secondaryto
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About NextStage AM
NextStage AM is an independent French asset management company founded in 2002 in Paris with €11.6 billion of assets under management as of December 2024, listed on Euronext Paris through its NextStage SCA evergreen investment vehicle since 2016. The firm specialises in multi-strategy private equity focused on innovative and growth-driven mid-market companies in France and selectively across Europe, combining traditional vintage closed-end funds with the long-duration listed permanent capital structure of NextStage SCA.
Investment thesis
NextStage targets European mid-market companies with strong growth profiles, deploying capital across multiple complementary strategies and vintage vehicles. Sector focus spans TMT, Business Services, Consumer, Industrials, Software and Healthcare, with the listed NextStage SCA evergreen providing optionality on holding periods beyond traditional fund durations. The firm emphasises supporting profitable scaling businesses through both majority and significant minority equity positions, with equity tickets ranging from €10 million to €100 million depending on the underlying vehicle and stage focus.
Recent activity
Recent realised exits include Locamod (TMT, 2025), MoonBikes (consumer, 2025), Numberly Groupe 1000mercis (TMT, 2025), Enertime (TMT, 2024), ESI Group (TMT, 2024) and Fermentalg (TMT, 2024), reflecting active distribution momentum across the technology vertical. The platform tracks 9 funds, 78 active portfolio companies and 59 realised exits across multiple investment cycles. Detailed buyer names and multiple data available on Pro at €29/month.
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