Idinvest Partners said April 9 that its third digital fund raised 180 million euros ($220.8 million) in a first close. Idinvest fund III is targeting a final close of 300 million euros. Idinvest, a mid-market European PE firm, invests in enterprise software, fintech and insurtech, deeptech, and healthtech.
Paris, 9th April 2018
Idinvest Partners, a leading investor in SMEs across Europe, has announced today the first close of its third digital fund at €180 million, as the firm continues to place long-term importance on cultivating a dedicated ecosystem for European entrepreneurs by supporting and growing the next generation of talent.
The first close of Idinvest Digital Fund III has exceeded that of its predecessor, Idinvest Digital Fund II, which raised €154 million, and the fund is targeting a final close of €300 million. Idinvest Digital Fund III is backed by a number of existing and new European LPs.
The new fund, managed by a team of nine investors, will finance European businesses with high growth potential and support serial entrepreneurs in the following sectors: Enterprise Software, Fintech and Insurtech, Deeptech (artificial intelligence, big data, virtual reality, IoT, cybersecurity) and Healthtech.
The team has already identified two target companies in which the fund will invest.
This successful fundraise reflects Idinvest’s long-standing presence in the European technology sector, which has seen the team invest in over 130 B2B and B2C digital start-ups over the past 10 years, including Talend, Social Point and Zenly. In 2017, the Venture Capital team invested €190 million in 21 companies and exited 12 businesses, generating €260 million.
“Over the past 20 years, Idinvest Partners has grown its network of European entrepreneurs through its proven expertise and dedication to this segment of the market. Thanks to our long-term approach and wish to help back the European tech sector’s ambitions, Idinvest now has access to all companies within the European digital sector, working with the best and brightest entrepreneurs of today and tomorrow,” said Benoist Grossmann, Managing Partner of Idinvest.
Matthieu Baret, Partner at Idinvest, added: “We are delighted at the success of this first closing, which has at its foundations Europe’s leading institutional and corporate investors. The unprecedented interest in this fund demonstrates both the huge growth potential of the digital sector and the attractive investment proposition it continues to offer our investors.”
ABOUT IDINVEST PARTNERS
Idinvest Partners is a leading European mid-market private equity firm. With close to €9bn under management, the firm has developed several areas of expertise including innovative startup venture capital transactions; mid-market corporate debt, i.e. single-tranche, senior and subordinated debt; primary and secondary investment and private equity advisory services. Founded in 1997 Idinvest Partners used to be an Allianz subsidiary until 2010, when it branched out as an independent firm.