Andera Partners – a leading European investment firm dedicated to small- and medium-sized growth companies – announced that Andera MidCap 5 (successor to Winch Capital 4 – €445 million) has reached its target of €600 million. Heading towards the hard cap, the subscription period of the fund is extended by six months to finalise ongoing discussions with several investors.

This fundraising success highlights the strong interest investors have in Andera MidCap’s change of scale strategy which has already delivered solid performances in prior funds. The first 15 exits completed by Winch Capital 3 and Winch Capital 4 generated an average multiple of 3.3x.

Andera MidCap 5 is already invested at c. 20% with 3 investments finalised in 2022:

  • ERI, a specialised player in multi-technical building and infrastructure services (Apr-2022);
  • Groupe Résonance Imagerie, a network of medical imaging centres (Jun-2022); and
  • Senstronic, a global supplier of high-performance detection solutions (Sep-2022).

Alongside highly invested entrepreneurs and managers, Andera MidCap carries out minority and majority investments in established and growing European businesses with equity tickets comprised between €25 and €100 million. Andera MidCap portfolio companies can leverage upon the Andera Partners Transformation Program focused on five areas: strategic support from a wide and exclusive network of Senior Advisors, digital transformation, M&A, international expansion and Corporate Social Responsibility. 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.

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