Alter Equity 3P
- Company typePrivate
- Founded2007
- HeadquartersParis, France
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Alter Equity 3P does
Alter Equity 3P is a Paris-based, AMF-regulated impact investment management firm founded in 2007 by Fanny Picard (former executive at Rothschild, Danone, and Wendel). It is the pioneer of impact investing in France and Europe, deploying minority or majority equity tickets of €4M to €20M (up to €30M with co-investors) into European SMEs with revenue above €1M that generate measurable environmental or social impact. The firm manages three fund vintages — 3P I (€41.5M, 2015), 3P II (€110M, 2020), and 3P III (targeting €150M, expected close summer 2026) — with cumulative AUM of approximately €270M as of 2024.
The firm's core proprietary technology is its Business Plan Extra-Financier (BPEF) methodology, an 80-criteria evaluation grid spanning social, environmental, and governance dimensions. Each portfolio company commits to 5-15 tailored ESG indicators with executive compensation partially tied to achievement. Alter Equity systematically tracks impact across its portfolio, reporting 8.9 million tonnes of CO2 avoided since inception (over 2% of France's annual emissions in 2024). Portfolio companies span renewable energy (Enviria, Beem, Elum, Ilek), circular economy (Murfy, Imparfaite), sustainable transport (Expliseat, Syroco, Everysens), social impact (Teale, Neobrain, Magic Makers), and sustainable materials (Shellworks, InnovaFeed).
The business model follows standard European private equity economics: management fees on committed/invested capital plus carried interest on exits. Notable exits include InnovaFeed (sold to Creadev and Temasek) and Bo.Ho Green (sold to Léa Nature). Distribution relies on direct enterprise relationships with founders (approximately one inbound opportunity per day), industry events, and thought leadership through founder media presence. Fund 3P III is classified as Article 9 under the EU SFDR framework.
Alter Equity 3P firmographics
Firmographics- Name
- Alter Equity 3P
- Legal name
- Alter Equity
- Website
- https://alter-equity.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Alter Equity 3P industry classification
Industry- Product category
- Impact Investment / Private Equity Fund Management
- NAICS
- Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)
- akta.pro secondary industries
- Impact / ESG Venture Capital (FSANAAAG), ESG Integration / Responsible Investment Funds (Broad ESG) (FSANAJAL)
Keywords
Where Alter Equity 3P is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices1 record
Markets served
Alter Equity 3P business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Fund Management Fees: Traditional private equity fund management fee structure. Alter Equity manages multiple funds (3P I, 3P II, 3P III) with institutional and private investors. Management fees plus carried interest on returns.
- Portfolio Returns (Carried Interest): Returns generated through successful exits from portfolio companies. Examples include exit from InnovaFeed to Creadev and Temasek, and sale of Boho Green to Lea Nature. Target net return of at least 10% for investors.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Fund III targeting 150M euros with tickets of 4-20M euros per investment |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Alter Equity 3P product offering
Product offeringCore offering
Alter Equity 3P is a Paris-based impact investment fund manager that deploys €4-20M minority or majority equity tickets into European SMEs (revenue >€1M) with positive environmental or social impact. Portfolio companies must adopt a proprietary Business Plan Extra-Financier (BPEF) committing to 5-15 ESG indicators with executive compensation tied to outcomes. The firm manages three fund vintages totaling €270M in assets under management, targeting net returns of at least 10% alongside measurable impact.
Product overview
Alter Equity 3P operates as an impact investment fund managing multiple funds (Fonds I, II, 3P III) with a total of 270 million euros under management as of 2024. The firm invests in European SMEs generating over 1m€ in revenue, deploying investments of 4m€ to 20m€ per deal. The core offering consists of the Alter Equity 3P fund vehicles structured under the French 3P (People, Planet, Profit) model, combined with an extra-financial business planning methodology that requires portfolio companies to commit to specific social and environmental improvement criteria.
Differentiator
Problem solved
Functional benefit
Products and services
- Alter Equity 3P Fund Vehicles
- Business Plan Extra-Financier (BPEF)
Quantifiable outcome
- 8.9 million tonnes of CO2 avoided by portfolio companies since creation
- +4 more outcomes
Companies that use Alter Equity 3P
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles2 records
Alter Equity 3P technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Alter Equity 3P partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and supporting.
- Crédit Agricole AssurancescoreCrédit Agricole Assurances partnered with Alter Equity portfolio company Teale to deploy mental health prevention programs for enterprises as part of their group insurance offerings.
- Alain GrandjeansupportingClimate and energy expert, co-founder of Carbone4, president of The Other Economy and Foundation for Nature and Humanity. Advisory council member who influenced Alter Equity's environmental focus.
- Carbone4supportingAdvisory council member providing climate expertise to Alter Equity's investment strategy.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
Alter Equity 3P competitors and assessment
Company assessmentDirect peers
- RAISE: French impact investment firm combining venture, growth, and private equity strategies. Directly comparable as a French pioneer impact investor with similar dual financial/extra-financial mandate.
- Mirova: Paris-based sustainable investment affiliate of Natixis Investment Managers. Closely comparable as a French private-markets impact investor deploying capital into environmental and social solutions.
- Demeter: French private equity firm dedicated to ecological transition, investing from seed to growth in cleantech and environmental solutions. Comparable thesis on French SMEs delivering environmental impact.
- Bridges Fund Management: UK-based impact investment firm with sustainable growth and property strategies. Comparable as a European impact PE specialist with explicit extra-financial measurement and Article 9 fund structures.
- Citizen Capital: French impact venture and growth investor focused on social and environmental outcomes. Comparable target segment (European impact SMEs) and explicit extra-financial measurement approach.
Broad incumbents
- SWEN Capital Partners: French asset manager specializing in sustainable and impact private equity, infrastructure, and natural capital. Overlapping impact-investing universe and prior recognition of Alter Equity within SWEN's ESG study.
- Eurazeo: Major French private equity firm with explicit sustainability/ESG strategy and Article 9-aligned funds. Comparable as a large French PE with impact and ESG integration focus, though broader and more diversified.
- Triodos Investment Management: European sustainable investment manager with private debt and equity impact strategies. Comparable as a long-established European impact investor with ESG-linked mandates.
- Tikehau Capital: Paris-listed alternative asset manager with dedicated private equity, real assets, and capital strategies with ESG integration. Comparable French alternative manager building sustainability-themed funds.
- MAIF Impact: Impact investment arm of French mutual insurer MAIF, deploying capital across social and environmental funds. Comparable as a large French institutional impact capital allocator, though broader and insurance-owned.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Alter Equity 3P social profiles
Digital presenceAlter Equity 3P financial estimates
Financial estimateRevenue estimate
Valuation estimate
Alter Equity 3P leadership team
Management profileNumber of profiles
Profiles2 records
Alter Equity 3P funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Alter Equity 3P M&A and investment
M&A and investmentM&A
Investments25 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Alter Equity 3P
What does Alter Equity 3P do?
Alter Equity 3P is a Paris-based impact investment fund manager that deploys €4-20M minority or majority equity tickets into European SMEs (revenue >€1M) with positive environmental or social impact. Portfolio companies must adopt a proprietary Business Plan Extra-Financier (BPEF) committing to 5-15 ESG indicators with executive compensation tied to outcomes. The firm manages three fund vintages totaling €270M in assets under management, targeting net returns of at least 10% alongside measurable impact.
Is Alter Equity 3P a public or private company?
Alter Equity 3P is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Alter Equity 3P founded?
Alter Equity 3P was founded in 2007. It employs 11 to 50 people.
Where is Alter Equity 3P based?
Alter Equity 3P is headquartered in Paris, France, in the Europe region.
How does Alter Equity 3P make money?
Two revenue lines are on record. Fund Management Fees are the primary driver. The others are portfolio Returns (Carried Interest).
Who are Alter Equity 3P's main competitors?
Direct peers on record are RAISE, Mirova, Demeter, Bridges Fund Management and Citizen Capital. Broad incumbents are SWEN Capital Partners, Eurazeo, Triodos Investment Management, Tikehau Capital and MAIF Impact.
Does Alter Equity 3P have an API?
No public API is recorded for Alter Equity 3P.
What industry is Alter Equity 3P in?
Alter Equity 3P's product category is Impact Investment / Private Equity Fund Management. Its primary akta.pro industry code is FSAAALAG, Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure), with a secondary code of FSANAAAG, Impact / ESG Venture Capital. Its NAICS code is 5259 and its SIC code is 6282.