What investment strategy does Noria Gestion focus on?

Noria Gestion focuses on Growth, VC strategies in the private equity space.

How many portfolio companies does Noria Gestion have?

Noria Gestion has 24 active portfolio companies and 2 completed exits and 2 funds tracked on GP Intel.

Where is Noria Gestion headquartered?

Noria Gestion is headquartered in Lille, France.

What is Noria Gestion's assets under management?

Noria Gestion manages approximately €110M in assets under management.

When was Noria Gestion founded?

Noria Gestion was founded in 2005.

What sectors does Noria Gestion invest in?

Noria Gestion invests across Energy, Real Estate, TMT, Consumer, Business Services.

What are Noria Gestion's recent exits?

Recent realized exits by Noria Gestion include: WAGA ENERGY (2025) to EQT; KYOTHERM (2024) to InfraVia Capital Partners.

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Noria Gestion

Lille, France·Founded 2005·

Growth Equity Venture Capital

·noria.eu

Noria is a Franco-Belgian family investment structure founded by Christophe Guillaume in 2005 (joined by Celine Guillaume in 2008) and headquartered in Lille (Eurometropole Lille-Kortrijk-Tournai). The family deploys long-term evergreen capital under an integral ecology thesis across two divisions: Energy & Climate (renewable heat, hydrogen, biomethane, geothermal, floating wind, decarbonised industrial heat) and Media & Humanity (publishing, broadcasting, professional training, bookstore retail with strong editorial content). AMF-approved management company Noria Gestion was created in April 2021 to formalise the structure.

AUM

€110M

Funds

vintages 2005–2008

Portfolio

Exits

Noria Gestion is a Lille growth equity firm with €110M AUM, 24 active companies and 2 exits.

SectorsEnergy Real Estate TMT Consumer Business Services

Key takeaways

·Top sector focus: ClimateTech (65% of portfolio).
·Fund cadence: ~3Y between vintages · last raise 2008.

Sector breakdown

26 companies

ClimateTech

17 · 65%

TMT

4 · 15%

Business Services

1 · 4%

Consumer

1 · 4%

Real Estate

1 · 4%

Key facts

HQLille, France

Founded2005

Websitenoria.eu

Recent exits

Noria Gestion sold Waga Energy to EQT in 2025 after 6 years.

Noria Gestion sold Kyotherm to InfraVia Capital Partners in 2024 after 12 years.

Coverage notes

2 funds tracked, 26 portfolio companies (24 active · 2 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund Noria Gestion has raised, with its portfolio companies. Hand-checked from public filings.

2 funds

Fund

Strategy

Vintage

Size

Assets

Exits

Noria Media & Humanity

Evergreen2008€30M10 assets

Evergreen

2008 · 18yr

€30M

–

Unrealized

10 held

Company	Entry
Aleteia TMT · France	2015
BeeBryte ClimateTech · France	–
Campus PRO Business Services · France	2008
Cascadya France	2025
Elax Energy ClimateTech · France	–
Forsee Power France	–
L'1nvisible TMT · France	2010
LA Procure Consumer · France	2008
Media Participations TMT · France	2012
Secom TMT · France	2010

Noria Energy & Climate

Evergreen2005€80M14 assets2 exits

Evergreen

2005 · 21yr

€80M

Unrealized

14 held

Company	Entry
BW Ideol ClimateTech · France	2021
Ciel & Terre ClimateTech · France	2020
Cixten ClimateTech · France	2023
Dualsun ClimateTech · France	2014
Eclipse ClimateTech · France	2026
Ekiho Real Estate · France	2016
Elements ClimateTech · France	2016
Geosophy ClimateTech · France	2023
Jimmy ClimateTech · France	2021
Lhyfe ClimateTech · France	2019
LMK Energy ClimateTech · France	2019
Newheat ClimateTech · France	2017
Otonohm ClimateTech · France	2019
TLS Geothermics ClimateTech · France	2022

Realized

2 exits

Company	Entry	Exit	Type	Buyer	MOIC
Kyotherm ClimateTech · France	2012	2024	Secondary	InfraVia Capital Partners	–
Waga Energy ClimateTech · France	2019	2025	Trade Sale	EQT	–

About Noria Gestion

Noria is a Franco-Belgian family investment structure with €110 million of assets under management, founded by Christophe Guillaume in 2005 (joined by Céline Guillaume in 2008) and headquartered in Lille within the Eurometropole Lille-Kortrijk-Tournai. The family deploys long-term evergreen capital under a multi-decade entrepreneurial heritage across French and Belgian SME ecosystems.

Investment thesis

Noria targets Franco-Belgian SMEs and lower mid-cap companies across multiple sectors, deploying evergreen family capital across majority and significant minority equity positions held without traditional fund duration constraints. Sector focus spans Industrials, Consumer, Healthcare, Energy and selectively other cross-border French-Belgian verticals, with the family structure enabling long-duration patient capital deployment.

Recent activity

Recent realised exits include WAGA ENERGY (energy, 2025), reflecting selective distribution across the family-office portfolio. The platform tracks 2 funds, 18 active portfolio companies and 1 realised exit across the multi-vintage Franco-Belgian programme.

Frequently asked questions

What investment strategy does Noria Gestion focus on?: Noria Gestion focuses on Growth, VC strategies in the private equity space.
How many portfolio companies does Noria Gestion have?: Noria Gestion has 24 active portfolio companies and 2 completed exits and 2 funds tracked on GP Intel.
Where is Noria Gestion headquartered?: Noria Gestion is headquartered in Lille, France.
What is Noria Gestion's assets under management?: Noria Gestion manages approximately €110M in assets under management.
When was Noria Gestion founded?: Noria Gestion was founded in 2005.
What sectors does Noria Gestion invest in?: Noria Gestion invests across Energy, Real Estate, TMT, Consumer, Business Services.
What are Noria Gestion's recent exits?: Recent realized exits by Noria Gestion include: WAGA ENERGY (2025) to EQT; KYOTHERM (2024) to InfraVia Capital Partners.