Capza hires two ahead of fundraise

Francesca Veronesi
08 October 2019

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France-based small and mid-caps GP Capza has geared up for the launch of Flex Equity fifth fund, nominating Maxence Radix and Benoit Choppin as co-heads of the Flex Equity strategy.

The Capza Flex Equity teams are currently preparing the fundraising of their fifth-generation fund, aiming for a €550-600m closing, to be invested primarily in France, Spain, Italy and Germany. The fund is yet to be launched, Unquote has learned.

Predecessor Capzanine 4 Flex Equity closed on €350m three years ago on its hard-cap. It backs French SMEs with turnovers of up to €150m, providing a mix of equity and mezzanine debt and was recently used to back Audensiel, a consulting company specialised in technological innovation and digital transformation.

Choppin and Radix joined Capza in 2005 and 2006 respectively and they will now run our Flex Equity activities in France. Since 2004, the Capza Flex Equity teams have made around 70 investments, mostly sponsorless LBO deals, of which 50 have been divested. Capza’s Flex Equity provides a selection of flexible financing solutions to SMEs combining equity (majority or minority stakes), convertible bonds and mezzanine debt.

Capza, as a firm, has doubled its investment team in the past five years, according to a statement. It recently opened offices in Spain, Germany and Italy.