Smalt Capital
Marseille-based growth-capital manager, founded 2000 as ACG Management and rebranded Smalt Capital in 2020 after a 2019 MBO backed by Caisse d'Epargne CEPAC (majority owner). Takes minority seed, development and transmission stakes in SMEs across Provence, Corsica and Reunion, and runs a renewable-energy infrastructure arm launched in 2022. About 345m EUR AUM and 1.3bn EUR raised since inception; 29 staff across Marseille, Nice, Bastia, Ajaccio and Reunion.
Key facts
Recent exits
Coverage notes
1 fund tracked, 42 portfolio companies (32 active · 10 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
42 companiesFunds & portfolio
Every fund Smalt Capital has raised, with its portfolio companies. Hand-checked from public filings.
Smalt CapitalGrowthActive2009 · 17yr32 active · 10 realized
Unrealized
32 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| TMT |  France | 2019 | |
| TMT | France | 2021 | |
| IT Services | France | 2022 | |
| Hospitality | France | 2021 | |
| Agriculture | France | 2019 | |
| Hospitality | France | 2022 | |
| Energy | France | 2023 | |
| Industrials | France | 2022 | |
| Business Services | France | 2023 | |
| Energy | France | 2023 | |
| Energy | France | 2023 | |
| Hospitality | France | 2021 | |
| Consumer | France | 2021 | |
| Industrials | France | 2022 | |
| Industrials | France | 2023 | |
| Healthcare | France | 2023 | |
| Consumer | France | 2022 | |
| Healthcare | France | 2022 | |
| Consumer | France | 2022 | |
| Consumer | France | 2022 | |
| Software | France | 2013 | |
| Consumer | France | 2013 | |
| Business Services | France | 2017 | |
| Energy | France | 2023 | |
| Energy | France | 2022 | |
| Industrials | France | 2019 | |
| Business Services | France | 2023 | |
| Consumer | France | 2018 | |
| Healthcare | France | 2022 | |
| Industrials | France | 2023 | |
| Hospitality | France | 2017 | |
| Hospitality | France | 2023 |
France· Entry 2019France· Entry 2021France· Entry 2022France· Entry 2021France· Entry 2019France· Entry 2022France· Entry 2023France· Entry 2022France· Entry 2023France· Entry 2023France· Entry 2023France· Entry 2021France· Entry 2021France· Entry 2022France· Entry 2023France· Entry 2023France· Entry 2022France· Entry 2022France· Entry 2022France· Entry 2022France· Entry 2013France· Entry 2013France· Entry 2017France· Entry 2023France· Entry 2022France· Entry 2019France· Entry 2023France· Entry 2018France· Entry 2022France· Entry 2023France· Entry 2017France· Entry 2023Realized
10 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | France | 2023 | 2025 | Secondary | – | ||
| Financials | France | 2022 | 2025 | Recapitalization | – | – | |
| Business Services | France | 2014 | 2016 | Secondary | – | ||
| Consumer | France | 2016 | 2018 | Secondary | – | ||
| EdTech | France | 2013 | 2021 | Trade Sale | – | ||
| HealthTech | France | 2009 | 2018 | Trade Sale | – | ||
| SaaS | France | 2016 | 2022 | Trade Sale | – | ||
| Hospitality | France | 2015 | 2022 | Trade Sale | – | ||
| IT Services | France | 2015 | 2016 | Trade Sale | – | ||
| Business Services | France | 2013 | 2017 | Secondary | – |
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About Smalt Capital
Smalt Capital is a French venture capital firm headquartered in Paris with capital deployed across 5 active fund vehicles. Founded in 2000, the firm deploys institutional capital across early-stage and selective growth-stage equity rounds in European technology companies, with sector focus spanning industrials, consumer, healthcare, business services and energy.
Investment thesis
Smalt Capital targets European and selectively global early-stage and growth-stage technology companies across industrials, consumer, healthcare, business services and energy, deploying institutional venture capital across seed, Series A and Series B rounds. The firm emphasises hands-on operational support during the post-investment value-creation phase, leveraging founder and operator partners alongside institutional capital to support international expansion and category leadership across France and selectively across Europe. Average equity tickets vary by stage with reserve capital preserved for follow-on rounds across the platform.
Recent activity
Recent realised exits include Smalt Capital • Sarawak (diversified sectors, 2022), EGIDIUM TECHNOLOGIES (software, 2021), LABORATOIRE PRECILENS (software, 2021) and GLOBALLIANCE (software, 2020). The platform tracks 5 fund vehicles, 79 active portfolio companies and 14 realised exits across the strategy's history. Detailed buyer names and multiple data available on Pro at €29/month.
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France·€311MGet the full picture on Smalt Capital.
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