Andera Partners
Andera Partners is a Paris-based private equity firm managing €6 billion across six strategies (Life Sciences, MidCap, Expansion, Acto mezzanine, green Infra, Co-Invest), serving European SMEs, mid-caps, biotech/medtech companies, and institutional LPs from offices in five European countries.
- Company typePrivate
- Founded2004
- HeadquartersParis, France
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Andera Partners does
Andera Partners is a Paris-based private equity and asset management firm managing €6 billion across six distinct investment strategies: andera Life Sciences (venture and growth equity in biotech and medtech across Europe and the US, delivered via the BioDiscovery fund series through BioDiscovery 7); andera MidCap (majority and minority buyout/development capital in European growth-company shareholder-managers with €40-120m tickets, via the Winch Capital/Andera MidCap series); andera Expansion (growth capital for European SMEs with €20-150m revenues, €15-40m tickets, via Cabestan/Andera Expansion); andera Acto (sponsorless mezzanine debt and minority equity, €10-150m tickets, via the Acto Mezzanine series culminating in Acto V at €1.1bn); andera Infra (value-add greenfield/brownfield investment in renewable energy, sustainable mobility and green data centres via Smart Infra and Terra Nea, supported by the EU InvestEU Fund); and andera Co-Invest (€10-20m co-investment tickets alongside leading GPs across Europe and North America).
The firm's revenue model is typical of European closed-end private equity: recurring management fees on committed and/or invested capital across successive fund vintages, supplemented by carried interest on successful exits, mezzanine interest income, and ESG/sustainability advisory delivered via the in-house Andera Partners Transformation platform. Andera Partners serves institutional LPs and management teams/founders of European SMEs, mid-caps, life sciences companies, and green infrastructure projects, with 367 portfolio companies supported over more than 20 years. Distribution is anchored by five offices (Paris HQ, Munich, Antwerp, Milan, Madrid), a Business Development team, and a strategic partnership with New York Life Investments and Candriam announced in December 2024. The firm holds SFDR Article 9 classification for its life sciences and infrastructure funds and Article 8 for the remaining strategies, with adherence to SBTi, TNFD, TCFD, PRI, Label ISR, France Invest, and UN Global Compact frameworks.
Andera Partners firmographics
Firmographics- Name
- Andera Partners
- Legal name
- Andera Partners
- Website
- https://anderapartners.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Andera Partners is a Paris-based private equity firm managing €6 billion across six strategies (Life Sciences, MidCap, Expansion, Acto mezzanine, green Infra, Co-Invest), serving European SMEs, mid-caps, biotech/medtech companies, and institutional LPs from offices in five European countries.
- Ownership category
- akta.pro rank
Andera Partners industry classification
Industry- Product category
- Private Equity Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Endowment / OCIO-Style Multi-Manager Platforms (FSANAGAG)
Keywords
Where Andera Partners is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices5 records
Markets served
Andera Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Fund management fees: Recurring asset management fees charged on committed and/or invested capital across Andera Partners' closed-end private equity funds (BioDiscovery 1–7, Andera MidCap 1–6, Andera Expansion/Cabestan 1–4, Acto Mezzanine I–V, Andera Smart Infra 1–2, Andera Co-Invest I–III, Terra Nea).
- Carried interest / performance fees: Performance-based carried interest earned on successful exits and capital gains realized from portfolio company investments, including IPOs (e.g., Mineralys, Evommune, Agomab, Kestra Medical) and strategic sales (e.g., Amolyt Pharma to AstraZeneca, ReViral to Pfizer, SoniVie to Boston Scientific, ImCheck to Ipsen, JenaValve to Edwards Lifesciences, Tubulis to Gilead).
- Mezzanine debt returns: Returns generated through andera Acto's mezzanine financing instruments (typically subordinated debt with equity-linked features), earning interest income and equity upside from portfolio companies that take on sponsorless, mezzanine development, or sponsor-backed structures.
- Co-investment gains: Equity returns from Andera Co-Invest vintage co-investment funds participating in LBO and growth buyout deals alongside leading GPs across Europe and North America.
- Investment advisory and ESG services: Specialized ESG due diligence, carbon footprint measurement, and CSR advisory provided to portfolio companies, often delivered through the in-house Andera Partners Transformation platform and Sustainability team.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Institutional limited partnership commitments negotiated bilaterally; fees not publicly disclosed |
Go-to-market motion4 records
Distribution channels5 records
Marketing channels9 records
Andera Partners product offering
Product offeringCore offering
Andera Partners is a Paris-based private equity asset management firm operating six complementary investment strategies (Life Sciences, MidCap, Expansion, Acto mezzanine, Infra, and Co-Invest) through successive closed-end funds. The firm invests equity and mezzanine capital ranging from €1m to €150m into European SMEs, mid-cap companies, life sciences businesses, and green infrastructure projects, while supporting portfolio companies with an in-house operational transformation platform.
Product overview
Andera Partners operates a multi-strategy private equity platform rather than a single unified product. The offering is structured as six core investment strategies — andera Life Sciences (venture/growth in biotech and medtech), andera MidCap (mid-market buyouts), andera Expansion (growth capital for SMEs), andera Acto (mezzanine debt), andera Infra (infrastructure), and andera Co-Invest (co-investment vehicles) — each delivered through a series of successive flagship, sector, or vintage-specific funds that share the firm's brand and investment platform.
Differentiator
Problem solved
Functional benefit
Brands
- andera Life Sciences: Equity investments of €15m–€60m in European and U.S. therapeutic and medical-technology companies from start-up/early-stage to growth/late-stage (BioDiscovery series of funds; Article 9 SFDR fund BioDiscovery 7).
- andera MidCap
- andera Expansion
- andera Acto
- andera Infra
- andera Co-Invest
- Terra Nea
Products and services
- andera Life Sciences
- andera MidCap
- andera Expansion
- andera Acto
- andera Infra
- andera Co-Invest
Quantifiable outcome
- 367 companies supported over more than 20 years
- +6 more outcomes
Companies that use Andera Partners
Customer profileSegments6 records
Ideal customer profiles6 records
Andera Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Andera Partners partnerships and signals
Strategic signalPartnerships
20 partnerships are on record, tiered minor, flagship and core.
- Dresner PartnersminorChicago-based Dresner Partners advised on the acquisition of EIS Wire & Cable by Tecnikabel (Andera Partners portfolio company), with support from Italian advisory firm Ethica Group.
- GileadflagshipGilead acquired Andera Partners' portfolio company Tubulis, adding a potentially best-in-class antibody-drug conjugate and next-generation platform to Gilead's oncology pipeline.
- Merck & Co. (Verona Pharma)coreMerck & Co. acquired Verona Pharma (an Andera Partners portfolio company) for approximately $10 billion as part of biopharma M&A activity referenced in industry commentary.
- IpsencoreIpsen agreed to acquire portfolio company ImCheck Therapeutics from Andera Partners, expanding its leadership in oncology.
- European Innovation Council (EIC) / EU programsminorMultiple Andera Partners' portfolio companies participate in European funding programs including the European Innovation Council and SME Instrument grants (referenced via industry coverage).
- Edwards LifesciencescoreEdwards Lifesciences acquired portfolio company JenaValve Technology from Andera Partners' Life Sciences portfolio.
- Boston ScientificcoreBoston Scientific agreed to acquire SoniVie Ltd. from Andera Partners' portfolio, marking a strategic exit for Andera Partners from the SoniVie medtech investment.
- New York Life Investments / CandriamflagshipStrategic partnership announced in December 2024 between New York Life Investments (and its European affiliate Candriam) and Andera Partners to support AUM growth and Andera Partners' continued development in 2025 and beyond. The collaboration enhances Andera Partners' distribution capabilities and positions the firm toward its target of €7-8 billion AUM by 2028.
- AstraZenecaflagshipAstraZeneca completed the acquisition of Andera Partners' portfolio company Amolyt Pharma, a developer of therapeutic peptides for rare endocrine diseases. Alexion/AstraZeneca Rare Disease also acquired LogicBio Therapeutics.
- European Investment Fund (EIF) / InvestEUflagshipEuropean Union InvestEU Fund supports the Andera Infra team's green infrastructure investment activities in renewable energy, sustainable mobility, and green data centres in Europe.
- Gustave Roussy Cancer CentrecoreAndera Partners Foundation has been financially supporting the Interception program at Gustave Roussy since 2024, developing the 'Scorisk' tool for cancer risk identification in healthcare professionals.
- PfizerflagshipPfizer acquired Andera Partners' Life Sciences portfolio company ReViral; previously Pfizer had funded ReViral with a $44 million Series C.
- Fondation de FranceflagshipThe Andera Partners Foundation is hosted by Fondation de France and acts through financial support and skills sponsorship alongside associations focused on environmental preservation, education, health, and the fight against discrimination.
- Article 1coreAssociation supported by Andera Partners Foundation, working since 2004 in favour of young people from low-income backgrounds, with programs on orientation, success, and development.
- La Maison des Femmes (Collectif Restart)coreAssociation supported by Andera Partners Foundation, providing comprehensive assistance to women in difficulty in the areas of prevention, education, and public health, founded in 2016 in Saint-Denis.
- Pleine MerminorAssociation supported by the Andera Partners Foundation focused on environmental preservation.
- Veni VerdiminorAssociation supported by the Andera Partners Foundation focused on environmental preservation and education.
- Les Cuistots MigrateursminorAssociation supported by the Andera Partners Foundation; details coming soon.
- Gmax PharmaminorGmax Pharma is the Chinese company that licensed ALV-100 (Alveus Therapeutics' lead candidate) to Andera Partners-backed Alveus Therapeutics.
- NovartisminorReferenced as a potential strategic acquirer in industry commentary around Artios Pharma's $115m Series D and broader DDR oncology landscape.
Scale indicators17 records
Recent moves13 records
Expansion highlights6 records
Andera Partners competitors and assessment
Company assessmentDirect peers
- Omnes Capital: Paris-based private equity and private debt firm with growth capital, buyout and infrastructure strategies targeting European SMEs and mid-caps. Direct competitor to andera Expansion and andera Acto with comparable ticket sizes and French mid-market focus.
- Idinvest Partners (now part of Eurazeo): Historical French mid-market PE and mezzanine firm now integrated into Eurazeo. Direct predecessor competitor to andera Expansion (formerly Cabestan) and andera Acto in the French SME growth and mezzanine segments.
- Bpifrance: French sovereign investment bank providing equity, mezzanine and growth capital to French SMEs and mid-caps. Direct competitor in andera Expansion, andera MidCap, andera Acto and Life Sciences — explicitly co-invested alongside Andera Partners in Adcytherix (€105m Series A, 2025) and MC2 Technologies.
- Ardian: Paris-based private investment house with multi-strategy platform covering mid-cap buyouts, expansion, mezzanine, infrastructure and co-investment across Europe. Direct competitor across most of Andera Partners' strategies and explicit co-investment partner (e.g., Mastergrid deal in 2025).
- Eurazeo: Paris-headquartered investment group with private equity, private debt and infrastructure strategies targeting European mid-cap and growth companies. Direct competitor in French mid-market buyout, growth and infrastructure with overlapping investor base and similar ticket sizes.
- PAI Partners: Paris-based private equity firm focused on mid-market buyouts and growth investments across Europe. Directly comparable to andera MidCap and andera Expansion strategies with overlapping geographies and ticket sizes in the French and broader European mid-market.
- Naxicap Partners: Paris-based mid-market private equity firm managing funds focused on French SMEs and mid-cap buyouts, expansion and mezzanine transactions. Direct competitor to andera MidCap, andera Expansion and andera Acto strategies with overlapping ticket sizes and geographies.
- Tikehau Capital: Paris-headquartered alternative asset manager with private equity, private debt and real estate strategies targeting European mid-cap and growth companies. Direct competitor in French private equity and mezzanine alongside Andera Partners' Expansion and Acto strategies.
Regional players
- Eight Advisory: Paris-based independent advisory firm specialising in transaction services, restructuring and real estate. Operates in adjacent mid-market ecosystem and comparable in size and Paris-headquartered positioning though operating as advisor rather than principal investor.
Broad incumbents
- EQT Partners: Stockholm-headquartered global private equity platform with dedicated life sciences, growth, infrastructure and private credit strategies. EQT Life Sciences is a direct co-investor alongside andera Life Sciences (e.g., co-led Exciva's €51m Series B, 2026) and EQT's broader platform competes with Andera across multiple strategies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Andera Partners social profiles
Digital presenceAndera Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Andera Partners leadership team
Management profileNumber of profiles
Profiles14 records
Andera Partners funding detail
Funding detailFunding overview
Funding rounds1 record
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Andera Partners M&A and investment
M&A and investmentM&A25 records
Investments218 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Andera Partners
What does Andera Partners do?
Andera Partners is a Paris-based private equity asset management firm operating six complementary investment strategies (Life Sciences, MidCap, Expansion, Acto mezzanine, Infra, and Co-Invest) through successive closed-end funds. The firm invests equity and mezzanine capital ranging from €1m to €150m into European SMEs, mid-cap companies, life sciences businesses, and green infrastructure projects, while supporting portfolio companies with an in-house operational transformation platform.
Is Andera Partners a public or private company?
Andera Partners is a private company. It is classified as management employee owned and is currently operating.
When was Andera Partners founded?
Andera Partners was founded in 2004. It employs 101 to 250 people.
Where is Andera Partners based?
Andera Partners is headquartered in Paris, France, in the Europe region.
How does Andera Partners make money?
Five revenue lines are on record. Fund management fees are the primary driver. The others are carried interest / performance fees, mezzanine debt returns, co-investment gains and investment advisory and ESG services.
Who are Andera Partners's main competitors?
Direct peers on record are Omnes Capital, Idinvest Partners (now part of Eurazeo), Bpifrance, Ardian, Eurazeo, PAI Partners, Naxicap Partners and Tikehau Capital. Eight Advisory is listed as a regional player. EQT Partners is listed as a broad incumbent.
Does Andera Partners have an API?
No public API is recorded for Andera Partners.
What industry is Andera Partners in?
Andera Partners's product category is Private Equity Asset Management. Its primary akta.pro industry code is FSANAGAG, Endowment / OCIO-Style Multi-Manager Platforms. Its NAICS code is 523940 and its SIC code is 6282.