Idinvest holds €340m final close for second growth fund

The fund was launched in 2016 with a €300m target and held a first close on €250m in November 2016. It has so far invested 50% of its total commitments across 15 companies, including Ogury, Secret Escapes, Klaxoon, Vestiaire Collective and Sophia Genetics.

In addition, the GP held a €180m first close for its Idinvest Digital Fund III  last year, which is now more than halfway towards its target of €300m.

Investors
More than 75% of LPs in Idinvest Growth Fund II are based outside France.

Investments
The fund targets SMEs based in France and the rest of Europe, mostly generating revenues of more than €10m and rapid annual growth over 50%.

The GP plans to make 12-20 investments, with tickets varying between €10-14m. It invests in businesses at every stage of their lifecycle, from early-stage venture to later-stage funding across the capital structure.

Digital companies form a significant part of the portfolio, but the fund retains a certain degree of flexibility with its investment sectors, enabling it to invest in healthcare or other industries. In the case of very large rounds, Idinvest will co-invest with other funds.

People
Idinvest Partners – Benoist Grossmann (managing partner).

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• Topics
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• IDInvest Partners (AGF Private Equity)
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