Momentum Invest holds €101m interim close for maiden fund

Momentum was founded in 2017 by entrepreneur Pierre Le Tanneur and private equity investors Alain Cochenet (formerly at Pechel), Tristan Parisot (formerly European Capital) and Arthur Bureau (formerly at BPI France).

Launched in Q3 2017, the vehicle held a first close on €83.4m in June.

Momentum Invest expects to finalise the fundraising process in Q3 2018, hitting the vehicle's €110m hard-cap.

Investors
Ten institutional backers – including French mutuelles pension funds and banks, BPI France and the European Investment Fund – backed Momentum Invest I, providing 70% of current commitments. The remainder was committed by private investors.

Investments
The GP targets France-based companies related to the services sector. The businesses should generate a €10-100m turnover. Momentum will provide equity tickets of €3-12m in exchange for both minority and majority stakes.

The vehicle has completed its first investment: Groupe Moving Fitness Park, a low-cost gym operator founded in 1985 and based in Paris.

People
Momentum Invest – Pierre Le Tanneur, Alain Cochenet, Tristan Parisot, Arthur Bureau (founding partners).

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