POSITIVE CAPITAL

What POSITIVE CAPITAL does

Positive Capital is a privately held, founder-led strategic M&A and capital advisory firm headquartered in Paris (10 rue de Penthièvre, 75008) that advises founders, shareholders, and investors on mid-market M&A and financing transactions. The firm operates with a deliberately selective mandate model, taking on a limited number of engagements to ensure direct partner involvement from strategic framing through final execution, with named partners Thomas Tcheudjio and Rudolphe Michau driving all core work. Its service offering spans sell-side and buy-side M&A (majority and minority sales, acquisitions, buyouts), growth capital raises (Series A/B, growth equity), debt advisory, and ownership/governance design, with stated focus on inflection-point situations where ownership, control, and long-term direction are at stake.

The firm has completed 20+ transactions across diverse sectors including B2B software (Powell Software, Aster, Easy-net), agritech/IoT (Urbasense, Yesitis, Oasis Smart Sim), travel (City Discovery, Univairmer), energy (Sys EnR), EdTech (Educastream, Cocoon Space), healthcare (Comelec CGC, Laboratoire M Richard), and professional services, with deal values ranging from €2.4M to €130M and cross-border execution including sales to Japan's Veltra Group, India's Tata Communications, and Franco-American Sandton Capital. Distribution is exclusively direct senior-partner engagement, supplemented by thought leadership content (20+ published articles), LinkedIn presence, and an email newsletter, with referral flow from institutional introducers (Bpifrance, La Banque Postale).

The firm is organized as Positive Capital SAS, founded in 2010, with a small team of 1-10 employees and no external institutional backing or parent company. Revenue is generated entirely through professional services advisory fees, with no technology product, software platform, or SaaS offering. The competitive positioning emphasizes 'M&A-market fit' frameworks, disciplined competitive processes, and proprietary valuation/positioning methodologies. No AI/ML capabilities are disclosed; the value proposition rests entirely on senior-led execution quality and network-driven deal sourcing in the European mid-market.

Name

POSITIVE CAPITAL

Legal name

Positive Capital SAS

Website

https://positive-capital.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Positive Capital is a Paris-based, founder-led boutique M&A and capital advisory firm that advises founders, boards, and investors on mid-market transactions including sales, acquisitions, buyouts, and growth capital raises, with 20+ completed mandates across European mid-market software and industrial sectors.

Ownership category

akta.pro rank

Product category

Investment Banking / M&A Advisory

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

Keywords

• M&A advisory
• Capital advisory
• Sell-side advisory
• Buy-side advisory
• Mid-market investment banking

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, Infrastructure

Revenue model

1. Strategic M&A & Capital Advisory Fees: Positive Capital generates revenue through advisory fees charged to founders, shareholders, and investors for strategic M&A transactions (majority/minority sales, acquisitions, buyouts) and capital financing situations (growth capital, buyout structuring). Engagement types include sell-side mandates, buy-side mandates, and capital raises (Series A, Series B, growth equity). The firm is typically engaged when ownership, control, and long-term direction are at stake.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Positive Capital is a founder-led strategic M&A and capital advisory firm that advises founders, shareholders, and investors on decisive capital situations — including majority or minority sales, acquisitions, buyouts, growth capital raises, and debt advisory. The firm operates in the European mid-market segment, is based in Paris, and runs a limited number of mandates at a time to ensure direct partner involvement from strategic framing through transaction execution.

Product overview

Positive Capital is an M&A and capital advisory firm, not a software product company. The firm provides strategic advisory services including platform and trajectory design, capital architecture, strategic transactions, and ownership and governance consulting. The company does not offer a technical product, software platform, or SaaS offering.

Differentiator

Problem solved

Functional benefit

Products and services

• Sell-side Advisory (Sales) Strategic advisory to founders, shareholders, and boards for majority or minority divestments, including positioning, buyer identification, and competitive process management aimed at maximizing valuation outcomes.
• Buy-side Advisory (Acquisitions) Advisory support for strategic and financial buyers on acquisitions, including target identification, valuation, deal structuring, and execution support.
• Buyouts Advisory (LBO/MBO) Advisory on leveraged buyouts and management buyouts, including capital structure design, financing sourcing, and transaction execution.
• Growth Capital Advisory Advisory on growth capital and equity financing rounds (Series A, Series B, Series C, growth equity), including investor selection, positioning, and round structuring.
• Debt Advisory Advisory on debt financing and capital structure alignment in mid-market transactions, including debt refinancing and capital reorganization alongside equity events.

Quantifiable outcome

• Elisath valuation achieved at 3x higher than initial offers through rigorous competitive buyer vetting process
• +3 more outcomes

Named customers17 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• BpifranceminorOthersBpifrance (French public investment bank) has introduced multiple clients to Positive Capital including Comelec CGC (CEO Marie-Noelle Guionnet), Laboratoire M Richard (CEO Solange Froissant), and Turbo Cereal (founder Marcel Turbo). Bpifrance serves as a referral channel but is not a financial investor in advisory mandates.
• La Banque PostaleminorOthersLa Banque Postale introduced Pierre-François Petrignani of Educastream to Positive Capital for a financial structure reorganization and investor exit facilitation. La Banque Postale serves as an institutional referral source rather than a direct financial partner.
• SimpliciticoreStrategic or Co-development PartnerPositive Capital advised Urbasense on its strategic combination with Simpliciti, creating a leading French platform for intelligent urban water and vegetation management. The combination merges Urbasense's agronomic expertise with Simpliciti's digital, IoT, and platform solutions for connected territories.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Market position

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/positive-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about POSITIVE CAPITAL