Access operated venture strategies with institutional governance.
Exposure to companies where a corporate is already the commercial channel, with reporting built for a committee rather than for a newsletter.
What we offer LPs and co-investors
Access
Deal flow that reaches us through corporate relationships before it reaches a broad process.
Discipline
A written thesis, a real investment committee, and a scoring framework applied across vehicles so vintages stay comparable.
Reporting
Quarterly portfolio and pipeline reporting, board-ready, with impact scoring alongside financial performance rather than in a separate annual document.
Co-investment
A defined co-investment framework with allocation rules set out in the vehicle documentation, not decided case by case.
The investment process
Condensed from the 6S model, which is how every vehicle is run.
Seeking Capital
Raise and steward capital from LPs, corporates and co-investors, then keep them informed well enough that the next vehicle is an easier conversation than the last.
Sourcing
Find and qualify companies in the target sectors and geographies through networks, corporate partnerships and data-driven scouting: proprietary flow rather than whatever reaches an inbox.
Seeding
Lead and structure the initial investment after diligence: terms, governance and a value-creation plan agreed with the founders rather than presented to them.
Scaling
Help the company grow across revenue, talent and operations: playbooks, operator partners, and the introduction to the corporate that turns a pilot into a contract.
Selling
Run disciplined exit processes: M&A, secondaries or IPO. Time the market, package the story, create genuine competitive tension rather than accepting the first approach.
Scoring
Measure pipeline and portfolio with consistent ROI and impact metrics, then use the scores to decide where the next euro of capital and attention goes.
Three vehicles, three theses.
InsurTech, ImpactTech and IndustryTech. Narrow by design: we invest where our partners have operated, and we say so early when a company sits outside that.
InsurTech
Insurance distribution, underwriting and claims are being rebuilt by companies that sell into insurers rather than around them. We back the ones a carrier can actually deploy, and we invest alongside the carriers we operate for, so a portfolio company arrives with a named counterpart rather than a cold introduction.
ImpactTech
Impact that is measured, not asserted. We back companies whose social or environmental outcome is produced by the business model itself rather than reported alongside it, which is also the only kind that survives a downturn: it does not depend on a budget line anyone can cut.
IndustryTech
AI, IoT and robotics applied to industry, where the hard part is making something physical at a cost that works. These companies are routinely told by generalist investors that their gross margin is wrong. Our IndustryTech partner built and sold a hardware company; the diligence question we ask is about the bill of materials at volume, not about the pitch.
Track record
One exit is public and confirmed. Everything else is awaiting clearance for publication: we would rather show you an empty column than a number we cannot stand behind.
Mon Petit Placement
Portfolio exit - Malakoff Humanis, 2025
Stake sold to Malakoff Humanis.
Questions LPs ask
The questions a serious LP asks first, answered where we can and flagged where we cannot publish yet.
Request the LP overview
Tell us your mandate and your typical commitment. We will send the overview for the vehicle that fits, or tell you there isn't one.