SME fund

Initiative & Finance is a leading pioneer in supporting SMEs in France. Since its inception in 1984, the team has completed over 350 investments, leveraging its expertise to partner with management teams by providing equity tickets ranging from €3m to €20m.

WhatsApp Image 2024-07-01 at 15.36.11 (1)

PME

As a specialist in buyout and growth capital transactions within the small-cap segment, Initiative & Finance PME has invested over €700 million since its inception.

This unique track record, enriched by more than 40 years of partnerships and shared experiences, provides the SME team with the ability to agilely support its management partners and their teams on both strategic and operational matters.

Key facts &
figures

40 years
of investing in SMEs
400 €m
in assets under management
35
companies currently supported
350
investments since 1984
14
dedicated professionnals
5
managing partners
2
offices : Paris and Lyon
+ 160
add-on acquisitions completed in the last 20 years

INVESTMENT

STRATEGY

After 25 years of proprietary investing, Initiative & Finance PME has been investing since 2010, the year I&F took its independance, on behalf of leading French and European institutional investors. The team is currently deploying the third generation of its SME-focused funds – I&F FPCI III, with a total of €206 million – in profitable, growing companies, alongside management teams with ambitious development projects.

 

Target company profiles
  • Operating in all sectors 
  • Profitable and growing companies
  • Led by a management team with an ambitious project
  • Attentive to ESG (Environmental, Social, and Governance) issues
  • Located in France, Belgium, and Switzerland
  • With a turnover between ~ €5m and €100m
  • With enterprise value between ~ €10m and €80m
    Investment contexts and terms
    • Transmission of companies to their management teams and/or external managers (MBO / MBI / BIMBO)
    • Full or partial shareholder exit (securitization of wealth and liquidity through OBOs)
    • Growth capital operations to finance organic or external growth projetcs 
    • Carve-out and spin-off of groups
    • Investment tickets ranging from €3m to €20m
    • Support period of approximately 5 years
    • Active support as a key shareholder, either majority or minority

    Our specificities

    SME Culture

    Tailored approach

    Focus on human relationships and experiences sharing

    Flexible support

    Strong interest in situations involving first time capital openings

    EXPERIENCE & LONGEVITY

    Established player founded in 1984

    350 investments ans partnerships 

    Managing partners collaborating together for 20 years

    Professional shareholder expertise enriched by 40 year of supporting SMEs across various sectors

    EXTERNAL GROWTH

    Dedicated in-house specialist

    Origination capability: target search and outreach

    Support in executing transactions

    Over 160 external growth operations completed in the past 20 years

    SME
    TEAM

    Jean-Michel Laveu

    Jean-Michel Laveu

    Partner, SmallCap

    Discover this person
    Mathilde Boyer

    Mathilde Boyer

    Investment Manager, SmallCap

    Discover this person
    Jean-Bernard Meurisse

    Jean-Bernard Meurisse

    President & Partner, SmallCap

    Discover this person
    François Golfier

    François Golfier

    Investment Director, SmallCap

    Discover this person
    Arnaud Mendelsohn

    Arnaud Mendelsohn

    Partner, SmallCap

    Discover this person
    Solenne Cheuret

    Solenne Cheuret

    Investment Director, SmallCap

    Discover this person
    Jérôme Mathieu

    Jérôme Mathieu

    Investment Director, SmallCap

    Discover this person
    Mayron Beaulieu

    Mayron Beaulieu

    Investment Manager, SmallCap

    Discover this person
    Camille Grosfilley

    Camille Grosfilley

    Investment Director, SmallCap

    Discover this person
    Brieuc Le Goff

    Brieuc Le Goff

    Analyst, SmallCap

    Discover this person
    Thierry Giron

    Thierry Giron

    Managing Director & Partner, SmallCap

    Discover this person
    Philippe Dilasser

    Philippe Dilasser

    Partner, SmallCap

    Discover this person
    César Bernand

    César Bernand

    Analyst, SmallCap

    Discover this person

    OUR
    INVESTMENTS

    OCELLIS

    Read more

    SYSCOM PROREP

    Read more

    RESEAU VERT L’OBJECTIF

    Read more

    PBI

    Read more

    AKTID

    Read more

    SAMSHIELD

    Read more
    CRYOPAL

    CRYOPAL

    Read more

    OFFIBAT

    Read more

    CSD INGENIEURS

    Read more

    BABYMOOV GROUP

    Read more