What Tilt Capital Partners does

Tilt Capital Partners SAS is a Paris-based private equity asset management company founded in 2021 as the dedicated energy transition investment platform of the Siparex Group, an independent French private equity specialist managing €3.7 billion across Private Equity, Venture Capital, and Private Debt. The firm operates a single growth capital fund strategy targeting European small and medium enterprises and midcaps that develop solutions for energy efficiency and power system flexibility. Investment tickets range from €15M to €50M per transaction, with additional capacity through co-investment, and total assets under management stand at €340M after the first fund exceeded its hard cap at €320M in February 2023.

The business model is a standard alternative asset manager structure: revenue is generated through management fees charged on committed or invested AUM, supplemented by carried interest on fund returns. A distinctive feature is that 25% of the firm's carried interest is indexed to ESG performance criteria, aligning manager incentives with environmental and social outcomes. The firm holds AMF portfolio management approval (number GP-19000033) and is led by Founding Partner Nicolas Piau, who also sits on the Siparex Executive Committee. Distribution is conducted through direct institutional fundraising targeting European insurance companies, pension funds, sovereign wealth funds, and family offices; the firm does not publish fee terms.

The product surface beyond capital deployment includes TiLT Perspectives (a periodic research publication series analyzing energy transition topics such as EU-ETS reform, renewable economics, grid flexibility, and hydrogen), annual ESG & Impact Reports, and active ownership support for portfolio companies. Disclosed portfolio investments include ORCAN, Wattwell, Negratín, ENDENA Group, eSmart Systems, Nomad Solar Energy, and Silicéo, spanning photovoltaic specialists, off-grid energy, and digital grid services across France and broader Europe.

Name

Tilt Capital Partners

Legal name

TiLT Capital Partners SAS

Website

https://tilt-capital.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Tilt Capital Partners is a Paris-based private equity firm managing €340M for European energy transition growth investments, operating as the dedicated energy transition platform of Siparex Group with €15M-€50M tickets in SMEs.

Ownership category

akta.pro rank

Product category

Growth Capital / Private Equity Fund Management

NAICS

Portfolio Management and Investment Advice (52394), Other Financial Vehicles (525990)

SIC

Investment Advice (6282)

akta.pro primary industry

Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD)

akta.pro secondary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Growth capital investments
• Private equity management
• Energy transition financing
• ESG-focused investing
• Venture growth funding

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management Fees: TiLT Capital generates revenue through management fees charged on assets under management, typical of private equity and growth capital fund structures. The firm also earns carried interest (carry) on investment returns, with 25% of the carried interest indexed to ESG performance criteria.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Tilt Capital Partners manages a growth capital fund that invests equity tickets of €15M to €50M (with additional capacity through co-investment) in European SMEs and midcaps championing the energy transition, particularly in energy efficiency and grid flexibility solutions. The firm manages €340M in assets under management as the dedicated energy transition platform of the Siparex Group, generating revenue through management fees on AUM and carried interest, of which 25% is indexed to ESG performance criteria.

Product overview

Tilt Capital Partners is a growth capital fund managed by Siparex Group, specializing in energy transition investments across European SMEs and midcaps. The firm operates a single integrated fund structure offering growth equity capital (€15-50M tickets), backed by €340M AUM, with 25% of carried interest indexed to ESG performance. The main offering includes the TiLT Capital Fund for direct investments, supported by ESG & Impact reporting services and TiLT Perspectives thought leadership publications.

Differentiator

Problem solved

Functional benefit

Products and services

• TiLT Capital Fund A growth capital fund providing €15M–€50M equity tickets (and larger amounts through co-investment) to European SMEs and midcaps developing energy efficiency, renewable energy, and grid flexibility solutions; manages €340M in assets under management.

Quantifiable outcome

• First fund exceeded hard cap, reaching €320M
• +2 more outcomes

Named customers7 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• BlackRock Climate Infrastructure: Global climate infrastructure platform targeting European energy transition assets. Comparable in thematic focus, but operates at materially larger scale and competes for the same institutional LP capital.
• Brookfield Renewable Partners: Global renewables and energy transition platform with significant European deployment. Comparable as a competing source of energy transition capital for European assets and LPs, though at much larger scale.
• Eurazeo: Large French-listed private equity group with dedicated energy transition and infrastructure strategies. Comparable as a French PE platform with energy transition exposure, though substantially larger and more diversified than TiLT.
• Andera Partners: French private equity firm with active mid-market and growth strategies including energy and ecological transition themes. Comparable in French mid-market PE with sustainability mandates, though broader in sector coverage.
• BNP Paribas Solar Investment Trust / BNP Paribas Energy Transition Fund: Energy transition investment strategies operated within BNP Paribas Asset Management's private assets platform. Comparable for its European energy transition PE mandate, though structured within a much larger banking group.

Direct peers

• Mirova Natural Capital: Subsidiary of Natixis Investment Managers focused on natural capital and energy transition private equity. Comparable as a French-based sustainable PE platform with European mid-market investments.
• SWEN Capital Partners: French asset manager dedicated to sustainable and impact investing across private equity, infrastructure, and debt. Comparable given its ESG-linked investment focus and European mid-market orientation.
• Omnes Capital: French private equity and infrastructure investor with deep tech and energy transition exposure, including growth capital tickets in European SMEs. Comparable by mandate, ticket size, and French mid-market focus.
• Asterion Industrial Partners: European independent infrastructure and energy-focused mid-market private equity firm. Comparable by virtue of its European mid-market ticket size and focus on energy transition infrastructure-adjacent assets.
• Demeter Partners: French private equity and venture firm specializing in the energy transition and ecological transformation, with comparable ticket sizes and a similar focus on European SMEs. Most direct peer given its parallel specialization in energy transition growth capital in France.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tilt Capital Partners