Buyer landscape
Likely buyers · in France.
Prepared 2026-09-29 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 3,429 verified exits: 39% to sponsors, 58% to corporates and platforms, 2% via IPO, 1% other routes. Route shift since 2020: sponsors 36% (was 44%), corporates and platforms 61% (was 52%), IPO 1% (was 3%).
The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers. 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. Turenne Groupe SponsorVery High75
311 in France · 34 deals 2024–26
AUM €2.0B · Capital Sante 3 · 2025 vintage · deploying · check €3-21M
20 platform investments since the 2025 vintage · early in deployment vs its usual 80 per fund.
Backed Destia, 2026 · Healthcare, France
2. NextStage AM SponsorVery High75
144 in France · 24 deals 2024–26
AUM €11.6B · FCPI NextStage CAP 2026 · 2026 vintage · deploying
8 platform investments since the 2026 vintage · mid-deployment vs its usual 15 per fund.
Backed ABATILLES, 2026 · Business Services, France
3. NextStage AM, BNP Développement, Bpifrance and management SponsorVery High75
143 in France · 24 deals 2024–26
AUM €11.6B · FCPI NextStage CAP 2026 · 2026 vintage · deploying
8 platform investments since the 2026 vintage · mid-deployment vs its usual 15 per fund.
Backed ABATILLES, 2026 · Business Services, France
4. PAI Partners SponsorVery High75
68 in France · 26 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Bought Arlettie from BNP Paribas Developpement, 2026 · Consumer, France
5. Arkea Capital, BNP Paribas Developpement and IRD Invest SponsorVery High75
141 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 16 per fund.
Backed 123 Elec, 2026 · Consumer, France
6. Arkea Capital Partenaire SponsorVery High75
140 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 16 per fund.
Backed 123 Elec, 2026 · Consumer, France
7. Idia SponsorVery High75
129 in France · 30 deals 2024–26
AUM €2.4B · Crédit Agricole Assurances Avenir et Territoires · 2026 vintage · deploying · check €2-15M
8 platform investments since the 2026 vintage · early in deployment vs its usual 26 per fund.
Backed Domaine Louis Moreau, 2026 · NULL, France
8. Isai Gestion SponsorVery High75
115 in France · 33 deals 2024–26
AUM €458M · ISAI Expansion III · 2025 vintage · deploying · check €6-45M
26 platform investments since the 2025 vintage · largely deployed vs its usual 21 per fund.
Backed APL Data Center, 2026 · Business Services, France
9. Bpifrance Investissement SponsorVery High75
99 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 6.3/yr before.
Backed Adcendo, 2026 · Biotech, Denmark
10. Finorpa Gestion SponsorVery High75
97 in France · 29 deals 2024–26
Hauts-de-France Avenir TPE PME · 2026 vintage · deploying
8 platform investments since the 2026 vintage · early in deployment vs its usual 32 per fund.
Backed BDM Associes (Le Kiosque), 2026 · Consumer, France
11. Ring Capital SponsorVery High75
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 Dermascan, 2026 · HealthTech, France
12. Capital Grand Est SponsorVery High75
63 in France · 11 deals 2024–26
AUM €228M · ReBest · 2023 vintage · deploying · check €1-6M
13 platform investments since the 2023 vintage · largely deployed vs its usual 13 per fund.
Backed Groupe Batige, 2026 · Real Estate, France
13. UI Investissement SponsorVery High75
54 in France · 13 deals 2024–26
AUM €1.7B · Cap Autrement · 2023 vintage · deploying
17 platform investments since the 2023 vintage · largely deployed vs its usual 14 per fund.
Backed Bobine, 2026 · ClimateTech, France
14. UI Investissement + Bpifrance SponsorVery High75
52 in France · 13 deals 2024–26
AUM €1.7B · Cap Autrement · 2023 vintage · deploying
17 platform investments since the 2023 vintage · largely deployed vs its usual 14 per fund.
Backed Bobine, 2026 · ClimateTech, France
15. UI Investissement + GENEO Capital Entrepreneur + Management SponsorVery High75
52 in France · 13 deals 2024–26
AUM €1.7B · Cap Autrement · 2023 vintage · deploying
17 platform investments since the 2023 vintage · largely deployed vs its usual 14 per fund.
Backed Bobine, 2026 · ClimateTech, France
16. UI Investissement and Esfin Gestion SponsorVery High75
52 in France · 12 deals 2024–26
AUM €1.7B · Cap Autrement · 2023 vintage · deploying
17 platform investments since the 2023 vintage · largely deployed vs its usual 14 per fund.
Backed Bobine, 2026 · ClimateTech, France
17. UI Investissement, Esfin Gestion and Unexo SponsorVery High75
52 in France · 12 deals 2024–26
AUM €1.7B · Cap Autrement · 2023 vintage · deploying
17 platform investments since the 2023 vintage · largely deployed vs its usual 14 per fund.
Backed Bobine, 2026 · ClimateTech, France
18. Citizen Capital SponsorVery High75
49 in France · 10 deals 2024–26
AUM €235M · Citizen CIS · 2023 vintage · deploying · check €0-2M
11 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.
Backed Cuisinons nos Paysages, 2026 · Agriculture, France
19. EXTENDAM and Amante Capital SponsorVery High75
26 in France · 38 deals 2024–26
AUM €5.1B · FPCI Experimental Hotels Collection · 2025 vintage · deploying · check €3-23M
Accelerating: 24 deals in the last 2 years vs 5.0/yr before.
Backed Ayre Hoteles, 2026 · Hospitality, Spain
20. Sodero Gestion, CENCD SponsorVery High75
40 in France · 22 deals 2024–26
AUM €350M · Transmettre & Pérenniser III · 2025 vintage · deploying · check €2-15M
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed CO2 Démolitions, 2026 · Construction, France
21. ISALT SponsorVery High75
30 in France · 11 deals 2024–26
AUM €3.0B · Strategie Horizon Dual (SHD) · 2025 vintage · deploying · check €6-45M
5 platform investments since the 2025 vintage · mid-deployment vs its usual 10 per fund.
Backed Meelo, 2026 · TMT, France
22. Nord Capital Partenaires SponsorVery High75
28 in France · 5 deals 2024–26
AUM €265M · Nord Capital Investissement FCPR PME · 2024 vintage · deploying · check €2-12M
5 platform investments since the 2024 vintage · mid-deployment vs its usual 9 per fund.
Backed O2D Environnement, 2026 · Construction, France
23. Yotta Capital Partners SponsorVery High75
22 in France · 13 deals 2024–26
AUM €350M · FPCI Yotta Sustainable Industries 2 · 2025 vintage · deploying · check €2-17M
8 platform investments since the 2025 vintage · largely deployed vs its usual 7 per fund.
Backed AlpSemi, 2026 · NULL, France
24. Montyon Capital SponsorVery High75
11 in France · 11 deals 2024–26
Montyon Capital I · 2024 vintage · deploying
Active in France since 2025.
Bought Trigo from Ardian, 2026 · Business Services, France
25. Ardian SponsorVery High74
249 in France · 52 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
14 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Axur, 2026 · NULL, NULL
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.