French private equity firms Sagard and Isai have backed a management buyout of Paris-based software developer Invoke from its founders Stephane Allez and Remi Lacour.
North America-focused fund held a first close in June 2020 and has made 20 investments
Paragon Partners will own a 55% in the newly formed entity following the carve-out
FPE acquired the assessment software in 2016 and has sold it to Battery Ventures' Learnosity
Company was reportedly marketed based on EBITDA of €16m