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PARIS, January 10, 2024 /PRNewswire/ — A promising first stage for ISAI Expansion, a pioneer in Tech Buyout investment in France, which has raised almost €190 million in the first closing of its 3rd Tech Buyout harvest, well ahead above the objective set for this first closing (150 million euros).
This new fund, which already exceeds the size of its predecessor ISAI Expansión II (150 million euros), has been launched with more than 75% of its target size (250 million euros) thanks to the strong support of entrepreneurs in the technology sector /digital, which represent 40% of this fundraising. With this, more than 400 subscribers-entrepreneurs from the technology and digital sectors join the ISAI community.
ISAI has also been able to count on renowned institutional investors, including historical ones such as Crédit Mutuel Arkéa, Eurazeo and Bpifrance, which invests directly and through its Growth fund of funds on behalf of private insurers and Caisse des Dépôts, and new investors such as the European Investment Fund, BNP Paribas Développement and a US-based asset manager with more than $500 billion in assets under management.
Pierre Martini, General Director of ISAI in charge of the ISAI Expansion funds, comments: “We are especially satisfied with this stage, which rewards more than 10 years of presence in the market. ISAI continues to be a strong pole of attraction for entrepreneurs in our sector; they are our DNA, and essential for ISAI’s value proposition as a financial partner.
Caroline Gibert, Director of Investor Relations and ESG, adds: “This first closing concretizes ISAI’s ability to meet the needs of institutional investors, including internationally, in terms of performance, transparency, reporting, ability to offer co-investment and ESG. Many of them place their trust in us for the first time since the launch of the Fund. We want to thank all our subscribers, both historical and recent, for their trust.”
A high added value positioning that combines growth and profitability in the Tech Buyout segment
This fundraising is the result of a unique positioning and trajectory since 2013. Created “by and for entrepreneurs”, ISAI Expansión has become the privileged partner of technology entrepreneurs seeking to accelerate their profitable growth strategy and access the ISAI’s unrivaled experience and network in this ecosystem.
In the last 10 years, ISAI Expansión has supported 19 companies and has successfully completed the exit of nine of them, including six secondary LBOs, such as aDvens, Labelium and, most recently, Pandat Finance and Invoke.
Jean-David Chamboredon, President of ISAI, explains: “In line with our DNA as a fund for entrepreneurs, our strength lies in supporting entrepreneurs who are carrying out their first expansion capital operation or LBO. We help them, with the rigor and the benevolence that characterizes us, to take a step forward and to structure ourselves to accelerate its development.”
Nicolas Martineau, General Partner of ISAI Expansion, explains: “Profitable growth is a central part of our investment and value creation strategy. This implies limited financial leverage, which makes our companies more solid in the face of economic cycles. As an example, the average annual growth of our active holdings has been close to 30% since our capital inflow.”
Managed by the same team and as a continuation of its predecessor, ISAI Expansión III will support between 12 and 15 companies with investments of between 10 and 50 million euros (excluding co-investment of our investors), with minority or majority stakes, in France, Spain , Switzerland and the Benelux countries. The two types of operations planned will be:
“We consider resilient and proven technology models (SaaS, B2B services, marketplaces, etc.) with high gross margins, as well as technology companies operating in traditional sectors whose digital approach is generating growth and profitability above those of the market,” he concludes. Christophe Poupinel, General Partner of ISAI Expansión.
ISAI Expansión III, classified as Article 8 under SFDR regulations, will continue to raise funds throughout 2024 with a view to reaching its target size of €250 million.
About ISAI Expansión For more than 10 years, ISAI Expansión has been accompanying technological and digital entrepreneurs who have chosen the path of profitability through Tech Buyout or Tech Growth operations. ISAI Expansión selects profitable and fast-growing companies with sales of at least 10 million euros, and invests, as a majority or minority shareholder, along with the founders and/or directors. ISAI Expansion has participated in several successful companies, such as Labelium, aDvens, Theodo, Invoke and Pandat Finance.
ISAI Expansion is a strategy of ISAI Gestion (“ISAI”), one of the pioneers of French technology investment. Co-founded in 2009 “by and for” technology entrepreneurs, ISAI now brings together more than 400 LP-entrepreneurs along with leading institutional investors.
ISAI, with offices in Paris and New York, manages €815 million through four investment strategies: Early-Stage Venture, Corporate Venture, Growth Lending and Tech Buyout.
The company is a signatory of UNPRI and a committed player in inclusive and low-carbon technology.
For more information, visit www.isai.fr
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