Ardian raises €70m growth fund

The latest fund brings total capital allocated to growth investments to €300m.

Ardian has been active in the fundraising space recently, raising $10bn for its latest fund-of-funds this month, having closed the €450m Expansion Fund III some weeks earlier. 

Ardian Croissance Fund launched in 2012 with a €60m target.  

Investments
The vehicle will target SMEs in France and continental Europe, seeking to invest up to €10m per transaction.

The fund already holds Consort NT and Bravofly in its portfolio.

Ardian (then Axa Private Equity) has been a Consort shareholder since 2002. The GP backed the take-private of the IT solutions firm in 2008 alongside Naxicap, according to unquote" data. In 2012, EPF Partners joined Ardian and Naxicap in the secondary buyout of the firm; the transaction valued the asset at €60m.

In 2012, Ardian (then Axa) injected €20m into Swiss online travel agency Bravofly to fund the acquisition of Spanish competitor Rumbo. The GP initially backed the company in 2010, leading a growth capital funding round for the business.

Investors
The majority of the vehicle's commitments were provided by European investors.

People
Laurent Foata is head of innovation and growth at Ardian.

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• Topics
• Funds
• Ardian (formerly Axa PE)