EMZ acquires stake in Arturia

EMZ has drawn equity from its EMZ 9 fund, which was launched in January 2019 with a target of €900m. It has now held a first close, according to reports.

The firm paid around €8m for the shares sold by an unidentified angel investor, and the management team acquired a stake of 10-15%, according to Capital Finance. The company's co-founder and CEO Frédéric Brun also reinvested in the company.

Following the transaction, the capital will be used to support organic and inorganic growth.

The company generates revenues of €23m.

Senior debt was provided by Crédit Agricole Sud Rhône Alpes, Banque Populaire Auvergne Rhône-Alpes, Caisse d'Epargne and Prévoyance de Rhône Alpes and BPI France.

Previous funding
Rhône Dauphiné Développement invested in the company in 2002 and OTC Asset Management invested €5m in the company in 2010. Both investors have since exited the company.

Company
Based in Grenoble, Arturia develops music production software and hardware for hobbyists, semi-professionals and professional musicians. Founded in 1999, the company operates in more than 60 countries around the world and has offices in Los Angeles, Mexico and London. It employs 100 people, according to LinkedIn.

People
Arturia – Frédéric Brun (co-founder, CEO).

Advisers
Equity – De Pardieu Brocas Maffei (legal); Eight Advisory (financial due diligence); Advention (commercial due diligence).
Company – Bryan Garnier & Co (corporate finance); Cazals Manzo Pichot, Bertrand de Saint Quentin, Aurélie Urvois (legal); Levine Keszler (legal); Lexan (legal); EY (financial due diligence).

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