Andera Partners – a leading European investment firm dedicated to small- and medium-sized growth companies – announced that after increasing its hard cap up from €660 million, Andera MidCap 5 has raised a final amount of €750 million. The fund is the successor to Winch Capital 4 (€445m).
This fundraising success highlights the strong interest investors have in the deep and resilient European and French Lower-Mid Market, as well as in the change of scale strategy led by Andera MidCap which has already delivered solid performances in prior funds. The first 18 exits completed by
Winch Capital 3 and Winch Capital 4 have generated an average multiple of 3.3x and include European champions such as Skill & You, Infra Group, HR Path, NetCo, Scalian, and Exclusive Group.
With 4 investments already completed in France and in Belgium, and a 5th deal pending,
Andera MidCap 5 will be invested at c. 30%:
- ERI, a specialised player in multi-technical building and infrastructure services (Apr-2022);
- Groupe Résonance Imagerie, a network of medical imaging centres (Jun-2022);
- Senstronic, a global supplier of high-performance detection solutions (Sep-2022); and
- Pauwels Consulting, a consulting firm specialised in Life Sciences, software development and engineering (Jun-2023).
Alongside highly invested entrepreneurs and managers, Andera MidCap carries out minority and majority investments in established and growing European businesses to help them change scale with equity tickets comprised between €30 and €100 million. Andera Partners’ goal in its capacity as a responsible investor is to support portfolio companies in generating sustainable growth by taking into account environmental and social issues. In this regard, Andera MidCap 5 qualifies as an Article 8 fund under SFDR, proactively promoting environmental and social responsibility in its investment strategy.
The team invests in France and across Europe, notably in Belgium (where it opened its Antwerp office in 2019) and Italy, where Andera Partners recently opened an office in Milan, thereby extending the team’s commitment to the country after ten years of continued investment activity.
Andera MidCap 5 stands out as the largest fundraising ever achieved by the Andera Partners and demonstrates renewed confidence from investors in the firm and its 6 investment strategies.