Siparex acquires French fund manager

Siparex Ventures has made six recent acquisitions across its European and US funds, including the acquisition of a Lyon-based fund manager.

Sigefi Ventures Gestion, the controlling business of Siparex Group’s venture capital management, has taken a majority stake in Sud-Partners, the Lyon-based company that manages Sudinnova and its Sudinnova II fund, which invests in French technology and life science investments.

Siparex has bought the firm from its current owner, Banque de Lyonnaise, which acquired the firm in 2001. The fund Sudinnova II has E33m in capital commitments. Under the terms of the agreement, Sud-Partners will continue to manage the fund Sudinnova II.

The acquisition was the latest in a series of six transactions for Siparex Ventures. The firm has completed four recent technology investments in France, the largest being a E2m investment in Trace One, a Paris-based developer of software applications. The other investments comprised Paris-based 3D Plus (E1m), biotech business Bionisis (E0.6m) and Applied Microtech, an IT business in which it invested E0.5m.

In the US, the firm has made two technology investments worth a total of E2.6m. California-based Chaos Telecom received $1.6m whilst portable test instruments developer Handylab, based in Michigan, secured $1m.