IK small cap fund invests in Sofia

Rachel Lewis
23 February 2022

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IK Partners has invested in Sofia Développement Group, a French e-health company, through its IK Small Cap III fund.

The private equity firm would not clarify whether it was a majority or a minority investment but said in a statement it was joining existing shareholders Extens, Capital Croissance and Bpifrance.

Sofia has EUR 20m of revenue, according to its website. It was created through the 2019 merger of two software publishers IDEA and SNAL. Its brands are Albus, which allows nurses to share health records; Topaze, management solutions for physiotherapists; and Televitale, management solutions for a range of healthcare professionals.

The IK Small Cap III Fund closed in April 2021 at EUR 1.2bn, at more than double the size of its EUR 550m predecessor. It invests across core sectors of business services, healthcare, consumer and industrials in companies with enterprise valuations of between EUR 50m and EUR 150m.

It includes a dedicated development capital pool that focuses on investing in companies worth less than EUR 50m.

IK said its investment would help accelerate growth and expand its offering beyond web and mobile tele-transmission towards a fully integrated digital practice management solution.