Idinvest Partners is planning to back 500 companies in 2015, according to a statement from the firm.
Launched in 1997, the European-focused fund-of-funds spun out from the Allianz Group in 2010. Since its launch, the firm has backed 3,500 companies, and since becoming independent its assets under management have doubled from €2.5 billion to €5 billion. Idinvest’s team has also almost doubled in size, from 25 to 48 people, the firm said.
By the end of 2015, the firm plans to have funded 4,000 companies, it said.
Idinvest was not available for further comment at press time.
In its statement, Idinvest said Europe, and in particular France, is “teeming with entrepreneurial opportunities” in a range of sectors, including the digital industry, healthcare and renewable energies. The firm identifies these three sectors as lying “at the heart of future developments and progress”.
“Idinvest Partners aims to accelerate the financial backing it provides to SMEs to support their growth,” Idinvest chairman Christophe Bavière said. “These companies not only create jobs but are an essential driving force for the European economy.”
Idinvest said it has raised more than €1 billion across its strategies in 2014, including private debt, venture capital and secondaries. In April the firm closed Idinvest Secondaries Fund II on €214 million, exceeding the vehicle’s initial €200 million target.
In July the firm held a final close on its second senior debt fund on €400 million, above its €350 million target. Idinvest is currently in market with its latest mezzanine fund, Idinvest Private Debt III, which is targeting €300 million. So far the firm has collected €235 million of commitments for the vehicle.
Idinvest has also managed a number of exits over the past year, including the sale of NASDAQ-listed biotechnology company Prosensa for $840 million in November, generating a 7.6x return multiple for the firm.