What Capital Croissance does

Capital Croissance is an independent French private equity and venture capital firm headquartered in Paris, founded in 2013 and regulated by the AMF (registration GP-12000028). The firm operates an "entrepreneurs club" model that aggregates over 600 entrepreneur-investors (company owners, executives, and families) who provide capital, deal flow, and operational expertise to portfolio companies. The firm had reached €950M in assets under management by April 2024, deployed across six distinct fund vehicles covering the French growth spectrum: Edelweiss (small-cap impact, ~€75M), CAIRN (SME growth, ~€280M), K2 (mid-cap long-term, ~€200M), Bluester (fund-of-funds / co-investment), Ternel (seed-to-Series-A regenerative VC, €150M AUM), Gaia Impact (renewable energy VC in Africa, €40M first close), and the philanthropic Ouréa fund.

The firm generates revenue through management fees on its multiple fund vehicles and carried interest on successful exits, earning subscription-style recurring management income plus transaction-based performance fees. Its go-to-market is community-led: deal flow originates from its 600+ subscriber-entrepreneur network, direct outreach to founders and management teams, industry events, and press coverage. Investment ticket sizes range from €500K to €50M depending on the vehicle, targeting companies with turnover between €5M and €250M across all sectors for MBOs, MBIs, OBOs, BIMBOs, and growth capital transactions.

Capital Croissance differentiates from traditional French mid-market PE through its "smart money" club model that bundles capital with strategic guidance on business development, external growth, HR/digital transformation, and CSR. The firm holds B Corp certification, UNPRI signatory status, International Climate Initiative membership, and France Invest Gender Parity Charter signatory status. The portfolio of 30+ documented exits includes E-Testing (SaaS HR), Equativ (ad tech, now Top 3 SSP globally after Sharethrough acquisition), Sofia (paramedical software serving 30,000+ healthcare professionals), iDealwine, STid, Aether Financial Services, and SPAS Organisation, with recent deployment emphasizing insurance brokerage, fintech, and digital infrastructure themes.

Name

Capital Croissance

Legal name

Capital Croissance

Website

https://capitalcroissance.fr

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Capital Croissance is an independent French private equity firm operating as an "entrepreneurs club" of 600+ investor-entrepreneurs, managing €950M across six funds (Edelweiss, CAIRN, K2, Ternel, Gaia, Bluester) that provide growth and transfer capital to French startups, SMEs, and mid-sized companies.

Ownership category

akta.pro rank

Product category

Private Equity & Venture Capital

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Venture Capital Fund-of-Funds (FSANAGAC)

akta.pro secondary industry

Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)

Keywords

• Private equity
• Venture capital
• Growth capital
• Buyout transactions
• Impact investing

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. Management fees: Capital Croissance earns management fees from managing their various investment funds (Edelweiss, CAIRN, K2, Ternel, Gaia). These funds have different sizes and investment strategies targeting different company stages and sectors.
2. Carried interest (performance fees): The firm earns carried interest on successful exits from portfolio companies, aligning manager incentives with investor returns.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Capital Croissance is an independent French investment management company that operates as an "entrepreneurs' club," providing equity capital and strategic support to French startups, SMEs, and mid-sized companies (ETI) through growth capital, MBO, MBI, OBO, and BIMBO transactions. The firm manages multiple fund vehicles covering small-cap impact, SME growth, long-term mid-cap, regenerative venture capital, renewable energy in Africa, fund-of-funds, and philanthropy, with investment tickets ranging from €500k to €50M.

Product overview

Capital Croissance operates as an entrepreneurs' club providing private equity and venture capital investment across multiple funds targeting different market segments. The core offering includes: Edelweiss (small cap €75m fund for companies €5-25m turnover), CAIRN (€280m growth capital for SMEs €10-100m turnover), K2 (€200m long-term program for mid-sized companies €50-250m turnover), Bluester (fund of funds), Ternel (€150m impact VC), Gaia Impact (renewable energy VC), and Ouréa (philanthropic fund). The portfolio includes B2B software companies such as E-Testing (skills assessment SaaS), Equativ (ad tech platform), and STid (access control solutions).

Differentiator

Problem solved

Functional benefit

Brands

• Edelweiss Business Club: Investment club for small and very small French companies focused on growth mega-trends with CSR impact commitments, targeting companies with €5-30m turnover
• CAIRN Business Club
• K2 Business Club
• Ternel
• Gaia Impact
• Bluester
• Ouréa

Products and services

• CAIRN Business Club Growth capital fund targeting fast-growing SMEs with turnover of €10-100M. Investment tickets of €10M-€25M per company, supported by over 300 entrepreneur-investors. Liquidity period up to 8 years.
• K2 Business Club Long-term investment program (up to 15-year liquidity horizon) for mid-sized companies (ETI) with turnover of €50-250M. Investment tickets above €25M, supported by 14 benevolent family-investors. Suited for family succession, MBO, and patient capital needs.
• Edelweiss Business Club Small-cap impact fund targeting fast-growing companies (€5-30M turnover) in digital, health, and food sectors with CSR focus. Investment tickets of €2M-€10M, with over 120 entrepreneur-investors participating.
• Ternel Regenerative venture capital fund (formerly MAIF Avenir) with €150M under management, investing €500k-€5M tickets at seed to Series A stage across Europe. Reconciles positive contribution and performance.
• Gaia Impact Fund Article 9 SFDR-compliant impact investment advisory firm targeting decentralized renewable energies in emerging countries, mainly Africa. Gaia Energy Impact Fund II makes equity and quasi-equity investments of €500k-€5M in seed to Series B stage companies.
• Bluester Capital Fund of funds and co-investment vehicle specialized in lower mid-market LBOs in Europe. Targets SMEs with enterprise value between €15-250 million. Allocation 67% in LBO/growth funds, 33% in co-investments.
• Ouréa Philanthropic fund housed within Fonds de Dotation Transatlantique, supporting public-interest projects in entrepreneurship/access to employment and environment themes. Allocates approximately €25,000 per project over 3-year periods.

Quantifiable outcome

• 30+ successful exits documented across various funds
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Ternel (formerly MAIF Avenir)coreStrategic or Co-development Partner · 25 April 2024In 2024, Capital Croissance strengthened its impact VC branch with Ternel, an investment fund that reconciles positive contribution and performance. Ternel uses regenerative economy principles and has €150M under management with ~30 companies supported. Ternel invests at seed stage (pre-seed to Series A) with tickets €500k-5m in Europe.
• Gaia ImpactcoreStrategic or Co-development Partner · 1 January 2023Since 2023, Capital Croissance has been managing the second fund of Gaia Impact, a VC investment advisory firm specializing in decentralized renewable energies in emerging countries. Gaia Impact's first fund was created in 2017. Their second fund GEIF II makes equity and quasi-equity investments of €500k-5m in ~20 companies in seed or growth phase in Africa.
• Bluester CapitalcoreStrategic or Co-development Partner · 16 June 2020Strategic partnership since 2020 with Bluester, an independent private equity company created in 2007 specializing in lower mid-market LBOs in Europe. Bluester offers access to LBO and Growth Capital funds positioned in lower mid-market, plus direct co-investments alongside funds they know well. Target companies have enterprise value between €15-250 million.
• FrenchFounderscoreStrategic or Co-development Partner · 1 January 2014Capital Croissance is an associate partner of the FrenchFounders international network of French entrepreneurs. Founded in 2014, FrenchFounders is a business club for Francophone executives around the globe facilitating business relationships within an entrepreneurs' community.
• Fonds de Dotation TransatlantiqueminorStrategic or Co-development PartnerHouses the Ouréa philanthropic fund created in 2019 with the aim of financing public-interest projects and organizing Capital Croissance's skills-based philanthropy actions.

Scale indicators6 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Siparex: Independent French mid-market PE firm investing equity tickets of typically €5-50M in French SMEs and mid-caps across sectors, with regional fundraising networks similar to Capital Croissance's entrepreneur-investor club. Directly comparable on geography, ticket size and SME/mid-cap focus.
• Naxicap Partners: French mid-market PE firm (€4B+ AUM) backing SMEs and mid-caps with equity tickets typically €10-100M, closely matching Capital Croissance's CAIRN and K2 strategies on target company profile and ticket sizes.
• LBO France: Independent French PE firm with a multi-strategy platform covering SME growth, mid-market LBO, venture and real estate, overlapping with Capital Croissance's CAIRN, Edelweiss and Bluester vehicles.
• Crédit Mutuel Equity: PE arm of Crédit Mutuel group dedicated to French SMEs and mid-caps with tickets of €5-100M, providing growth, transmission and impact capital. Closely matches Capital Croissance's CAIRN and Edelweiss strategies on French SME focus.
• M Capital Partners: Independent French mid-market PE firm (Toulouse) backing SMEs and mid-caps with €5-50M tickets, frequently co-investing with regional networks. Comparable on regional French footprint and SME growth/transmission focus.

Broad incumbents

• Bpifrance: France's public investment bank and a frequent co-investor in Capital Croissance's deals (Sofia, IMS Networks). Provides direct PE, VC and mezzanine across virtually the same French SME/mid-cap universe, serving as both peer and partner.
• Eurazeo: One of Europe's largest listed PE platforms with multiple strategies (mid-market, growth, venture, real assets) targeting European SMEs and mid-caps. Comparable on multi-vehicle platform structure, though at materially larger AUM scale.
• Ardian: Paris-headquartered global PE and private credit investor with €150B+ AUM and dedicated mid-market and growth strategies across Europe. Comparable as a larger French-rooted multi-strategy platform investing into similar mid-cap targets.
• Apax Partners: European mid-market PE firm (€7B+ AUM) investing growth and buyout tickets of €30-300M in French and European SMEs. Overlaps with Capital Croissance on mid-sized French targets and multi-fund platform model.
• PAI Partners: Paris-based European mid-market PE firm investing €100M-1B+ tickets in French and European companies. Overlaps with Capital Croissance on mid-sized French targets and growth/buyout transactions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ccroissance
• LinkedInlinkedin.com/company/capital-croissance
• Instagraminstagram.com/capital_croissance

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

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

M&A3 records

Investments12 records

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

Frequently asked questions about Capital Croissance