Buyer landscape

Likely buyers · SaaS in France.

Prepared 2026-09-29 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables

How companies like this sold · 608 verified exits: 23% to sponsors, 75% to corporates and platforms, 1% via IPO, 0% other routes. Route shift since 2020: sponsors 23% (was 22%), corporates and platforms 76% (was 75%), IPO 1% (was 2%).

The list: 24 Tier 1 · 1 Tier 2 of 120 matched buyers, including 18 geographic expansion candidates without a local platform yet. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.

Financial buyers · 25

Tier 1 · Very High · score 70+

1. Oakley Capital SponsorVery High93

15 platform investments in Software & IT · 7 in France · 20 deals 2024–26

AUM €12.7B · Oakley Capital Fund VI · 2025 vintage · deploying · check €90-675M

10 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.

Bought Senef from Isatis Capital, 2026 · SaaS, France

2. Hg SponsorVery High90

49 platform investments in Software & IT · 6 in France · 22 deals 2024–26

AUM €69.0B · Hg Mercury 4 · 2023 vintage · deploying · check €48-360M

24 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.

Backed OneStream, 2026 · SaaS, US

3. Oakley Capital, Eurazeo, Sagard NewGen (I-Tracing platform) SponsorVery High89

15 platform investments in Software & IT · 6 in France · 19 deals 2024–26

AUM €12.7B · Oakley Capital Fund VI · 2025 vintage · deploying · check €90-675M

10 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.

Backed Blinq, 2025 · SaaS, Australia

4. BID Equity Continuation Fund I SCSp SponsorVery High89

19 platform investments in Software & IT · 5 in France · 13 deals 2024–26

AUM €800M · BID Equity Continuation Fund I · 2025 vintage · deploying · check €6-45M

Accelerating: 11 deals in the last 2 years vs 2.5/yr before.

Bought Bmobile from BID Equity, 2025 · SaaS, France

5. EQT SponsorVery High87

40 platform investments in Software & IT · 12 in France · 51 deals 2024–26

AUM €291.0B · EQT X · 2023 vintage · deploying · check €440M-3.3B

53 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.

Backed Mews, 2026 · SaaS, Netherlands

6. Isai Gestion SponsorVery High86

61 platform investments in Software & IT · 111 in France · 30 deals 2024–26

AUM €458M · ISAI Expansion III · 2025 vintage · deploying · check €6-45M

23 platform investments since the 2025 vintage · largely deployed vs its usual 20 per fund.

Backed Synera, 2026 · SaaS, Germany

7. TeamSystem PE-backedVery High86

86 acquisitions in Software & IT · 5 in France · 28 deals 2024–26

Active in France since 2024.

Added on DIA Yazilim, 2026 · SaaS, Turkey

8. Capital Croissance SponsorVery High85

16 platform investments in Software & IT · 44 in France · 20 deals 2024–26

AUM €950M · Club des entrepreneurs Capital Croissance · 2025 vintage · deploying · check €2-15M

9 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.

Backed Qomon, 2025 · SaaS, France

9. AFINUM Management GmbH SponsorVery High85

14 platform investments in Software & IT · 9 deals 2024–26

AFINUM X Buyout (2026) · 2026 vintage · deploying · check €10-75M

2 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.

Backed Fairbanks, 2026 · SaaS, Netherlands

10. BID Equity SponsorVery High85

16 platform investments in Software & IT · 4 in France · 9 deals 2024–26

AUM €800M · BID Equity Continuation Fund I · 2025 vintage · deploying · check €6-45M

7 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.

Backed Bmobile, 2025 · SaaS, France

11. Arkea Capital, BNP Paribas Developpement and IRD Invest SponsorVery High83

19 platform investments in Software & IT · 138 in France · 25 deals 2024–26

AUM €1.3B · Arkea Capital 3 · 2025 vintage · deploying · check €1-11M

11 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed Beedeez, 2024 · SaaS, France

12. Arkea Capital Partenaire SponsorVery High83

19 platform investments in Software & IT · 137 in France · 25 deals 2024–26

AUM €1.3B · Arkea Capital 3 · 2025 vintage · deploying · check €1-11M

11 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed Beedeez, 2024 · SaaS, France

13. Bpifrance Investissement SponsorVery High83

6 platform investments in Software & IT · 98 in France · 38 deals 2024–26

AUM €57.3B · Bpifrance Amorçage Industriel · 2023 vintage · deploying · check €1-8M

Accelerating: 32 deals in the last 2 years vs 5.5/yr before.

Backed Septeo, 2025 · SaaS, France

14. Irdi Capital-Investissement SponsorVery High82

34 platform investments in Software & IT · 132 in France · 35 deals 2024–26

AUM €550M · IRDI Impulsion · 2021 vintage · partially deployed · check €2-15M

78 platform investments since the 2021 vintage · largely deployed vs its usual 27 per fund.

Backed Feedae, 2025 · SaaS, France

15. Ring Capital SponsorVery High82

10 platform investments in Software & IT · 52 in France · 32 deals 2024–26

AUM €470M · Ring Altitude II · 2025 vintage · deploying · check €4-33M

17 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.

Backed Sopht, 2024 · SaaS, France

Tier 2 · High · score 50+

16. Visma PE-backedHigh81

164 acquisitions in Software & IT · 9 in France · 55 deals 2024–26 · add-on program under General Atlantic / Hg

Platform held 6 yrs · likely exiting

Active in France since 2022.

Added on MaisMei, 2026 · SaaS, Brazil

Tier 1 · Very High · score 70+

17. Meanings Capital Partners SponsorVery High81

9 platform investments in Software & IT · 16 in France · 8 deals 2024–26

AUM €906M · Meanings Private Equity Fund IV (MPEF IV) · 2025 vintage · deploying · check €6-45M

Accelerating: 7 deals in the last 2 years vs 1.8/yr before.

Backed Instant System, 2026 · Software, France

18. Apax Partners SponsorVery High80

35 platform investments in Software & IT · 16 in France · 21 deals 2024–26

AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B

19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.