360 Capital Partners takes over €80m Robolution Capital fund

Robolution founders Dominique Rencurel, Bruno Bonnell and Jean-Jacques Bertrand will join 360 Capital Partenaires as part of the transaction. Former Soffinova Partners member Nicolas Autret will also join as partner, bringing its experience in the fields of growth capital and robotics to the team. As a result, the firm will count 20 members spread across its Paris, Milan, London and Berlin offices.

360 Capital will pursue a similar investment strategy, targeting companies worth between €300,000-10m in the fields of robotics, artificial intelligence and the internet of things, at an early or growth stage. Investments will take place in France for the most part as well as the rest of Europe.

Robolution Capital, currently deployed at 25% across eight businesses, closed on €80m in 2014, surpassing its original €60m target. It was put on standby in March 2015, following conflicts regarding the fund's investment strategy among managers at Orkos Capital and consequent resignations from the firm. 360 Capital's takeover will see the fund reactivated.

Robolution was established in January 2012 by Primnext, the management of Orkos and entrepreneur Bruno Bonnell. The European Investment Fund, CDC and BPI France are the main investors in the fund, alongside corporates AG2R La Mondiale, Orange, EDF and Thales. Around 50% of commitments have come from government initiatives EIF and BPI. The remainder was supplied by corporate and private investors, as well as financial institutions, according to unquote" data.

The acquisition of the new fund brings the total value of assets managed by the 360 Capital team up to €300m.

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