Bluester Capital
- Company typePrivate
- Founded2006
- HeadquartersParis, France
- Headcount1–10
- GTM typeB2B
- OfferingServices
Bluester Capital firmographics
Firmographics- Name
- Bluester Capital
- Legal name
- Capital Croissance
- Website
- https://bluestercapital.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Bluester Capital industry classification
Industry- Product category
- Private Equity Fund Management
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Business Services (B2B) Growth Equity (FSANACAD)
Keywords
Where Bluester Capital is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices1 record
Markets served
Bluester Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others, Infrastructure
Revenue model
- Management Fees: Bluester Capital generates revenue through management fees charged on assets under management across its fund-of-funds vehicles. These fees compensate for fund selection, due diligence, and portfolio monitoring services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Private fund subscription for accredited investors, families, and family offices |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Bluester Capital product offering
Product offeringCore offering
Bluester Capital is a Paris-based fund-of-funds and co-investment manager that invests in European lower mid-market LBO and development capital funds on behalf of private investors, families, and family offices. The firm allocates across primary fund investments (67%), secondary fund positions, and direct co-investments (33%) in SMEs valued between 15M€ and 250M€, providing exposure to 32 fund managers, 53 funds, and 480+ portfolio companies across 12 European countries. Revenue is generated through management fees (1-2% of committed capital) and carried interest (20% above hurdle rate).
Product overview
Bluester Capital is a fund-of-funds and co-investment platform focused on European lower mid-market private equity. The company manages a series of pooled investment vehicles (Parvilla I through Bluester Europe V) that provide investors access to LBO funds and direct co-investments in SMEs valued between 15-250 million euros. The product architecture consists of primary fund investments (67% of portfolio), secondary fund positions, and selective co-investments (33%) in portfolio companies. The strategy focuses on Western European exporters including Scandinavia, Benelux, Germany, German-speaking Switzerland, UK, and France, with 32 fund management relationships across 13 countries.
Differentiator
Problem solved
Functional benefit
Products and services
- Parvilla I A 37M€ European private equity fund-of-funds vehicle created in 2008 investing in lower mid-market LBO funds, since fully liquidated.
- Parvilla II A 31M€ European private equity fund-of-funds vehicle created in 2013 investing in lower mid-market LBO funds, currently in liquidation period.
- Parvilla III A 48M€ European private equity fund-of-funds vehicle created in 2017, the first fund raised under the new Bluester Capital brand following the Parvilla rebrand.
- Bluester Fund IV A 69M€ fund-of-funds vehicle investing primarily in LBO lower mid-market funds in Europe, with selective co-investments in European SMEs valued between 15M€ and 250M€. Raised in 2020 alongside Capital Croissance partnership.
- Bluester Europe V The fifth-generation Bluester fund-of-funds vehicle raised in 2025, continuing the strategy of fund-of-funds and co-investment in European lower mid-market private equity.
- Co-Investment Services Direct co-investment alongside European fund managers Bluester has relationships with, typically in deals where fund size exceeds sponsor capacity or where experienced managers seek co-investment partners.
Quantifiable outcome
- Access to approximately 100+ underlying investments through 10 fund allocations
- +1 more outcomes
Companies that use Bluester Capital
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles2 records
Bluester Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Bluester Capital partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Capital CroissancecoreBluester Capital completed its merger by absorption into Capital Croissance on July 31, 2025. Capital Croissance had owned 100% of Bluester since 2024 following the partnership established in 2020. The merger represents the final step in integrating Bluester as a strategy within Capital Croissance, while maintaining Bluester's investment focus on European fund-of-funds and co-investments.
- Weinberg Capital PartnersminorCo-invested alongside Weinberg Capital Partners in Patrim One, a French insurance broker specializing in high-net-worth client wealth protection. Weinberg Capital Partners served as the fund sponsor.
- Omnes CapitalminorCo-invested alongside Omnes Capital in Mistral, a French ERP software provider, prior to the exit to Aptean in December 2022.
- InvisionminorCo-invested alongside Invision in EduPro, a European vocational training group. Invision acted as the majority shareholder alongside management and Bluester.
- CataCapminorCo-invested alongside CataCap in DAFA Group, a Danish industrial manufacturer. CataCap became the majority shareholder alongside Schroders Capital.
- SGT CapitalminorCo-invested alongside SGT Capital in Utimaco, a German cybersecurity technology provider. SGT Capital became majority shareholder following regulatory approvals in the US, UK, and Germany.
- Chiltern CapitalminorCo-invested alongside Chiltern Capital in Surepharm, a UK-based contract pharmaceutical development and manufacturing organization. Chiltern Capital acted as the lead investor while Bluester participated as co-investor.
Scale indicators5 records
Recent moves13 records
Expansion highlights6 records
Bluester Capital competitors and assessment
Company assessmentDirect peers
- Access Capital Partners: Paris-based European private equity fund-of-funds manager with a focus on lower mid-market PE primaries, secondaries, and co-investments across Europe. Directly comparable to Bluester in vehicle structure, lower mid-market focus, and European geographic mandate.
- Pantheon: Global PE fund-of-funds and co-investment manager offering primaries, secondaries, and direct investments across private equity strategies. Closely comparable to Bluester's FoF/co-investment model though at substantially larger scale.
- LGT Capital Partners: Swiss-based global private markets manager offering PE fund-of-funds, primaries, secondaries, and co-investments with strong European institutional presence. Closely comparable to Bluester in FoF structure with diversified global mandate.
- Unigestion: Swiss private investment manager offering PE fund-of-funds and direct co-investment programs with European mid-market focus. Comparable FoF model and lower mid-market orientation make it a strong peer for Bluester.
Broad incumbents
- Ardian: Global private investment house (formerly AXA Private Equity) with one of the largest PE fund-of-funds and primary fund/secondary/co-investment platforms globally. Overlaps with Bluester in the FoF model but at much larger scale and broader geographic mandate.
- Eurazeo: Major French private equity investor with broad direct investment strategies including mid-market LBO and growth equity (now incorporating legacy Idinvest PE business). Comparable as a French PE platform though more focused on direct deals than FoF.
- Amundi Private Equity: European asset manager with a private equity fund-of-funds and direct investment offering, originating from Crédit Agricole Asset Management and Société Générale AM. Comparable FoF expertise and institutional distribution, though at much larger scale.
- Tikehau Capital: Paris-listed French alternative asset manager with private equity, private debt, and real assets strategies. Comparable as a French PE platform with broader mandates and larger scale than Bluester.
Others
- Capital Croissance: French mid-market LBO specialist that acquired 100% of Bluester Capital in 2024 and absorbed it via merger in July 2025. Direct parent and platform partner, sharing management and strategy overlap with Bluester.
- Weinberg Capital Partners: French mid-market private equity firm that has co-invested alongside Bluester in transactions such as Patrim One. Operates as a direct GP partner rather than a FoF competitor, but materially connected through co-investment activity.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Bluester Capital social profiles
Digital presenceBluester Capital compliance and trust
Trust signalCompliance5 records
Bluester Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bluester Capital leadership team
Management profileNumber of profiles
Profiles8 records
Bluester Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bluester Capital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bluester Capital
What does Bluester Capital do?
Bluester Capital is a Paris-based fund-of-funds and co-investment manager that invests in European lower mid-market LBO and development capital funds on behalf of private investors, families, and family offices. The firm allocates across primary fund investments (67%), secondary fund positions, and direct co-investments (33%) in SMEs valued between 15M€ and 250M€, providing exposure to 32 fund managers, 53 funds, and 480+ portfolio companies across 12 European countries. Revenue is generated through management fees (1-2% of committed capital) and carried interest (20% above hurdle rate).
Is Bluester Capital a public or private company?
Bluester Capital is a private company. It is classified as corporate owned and is currently operating.
When was Bluester Capital founded?
Bluester Capital was founded in 2006. It employs 1 to 10 people.
Where is Bluester Capital based?
Bluester Capital is headquartered in Paris, France, in the Europe region.
How does Bluester Capital make money?
One revenue line is on record: management Fees.
Who are Bluester Capital's main competitors?
Direct peers on record are Access Capital Partners, Pantheon, LGT Capital Partners and Unigestion. Broad incumbents are Ardian, Eurazeo, Amundi Private Equity and Tikehau Capital. Others are Capital Croissance and Weinberg Capital Partners.
Does Bluester Capital have an API?
No public API is recorded for Bluester Capital.
What industry is Bluester Capital in?
Bluester Capital's product category is Private Equity Fund Management. Its primary akta.pro industry code is FSANACAD, Business Services (B2B) Growth Equity. Its NAICS code is 52394 and its SIC code is 6282.