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Institutional LPAllocates capital directlyLAST VERIFIED Oct 2026 · 7 SOURCES

Macif

Mutual insurer and founding member of Aéma Groupe

Also known as Macif SAM

French mutual insurer (Aéma Groupe); €17.0bn of investments (2025); invests in PE, infrastructure and impact funds (SWEN Terra, Objectif Biodiversité) and directly via its own impact vehicles.

HEADQUARTERS
Niort, France
FOUNDED
—
AUM
€17B (2025)
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
3 people

FOCUS

STAGES
—
SECTORS
Climate & Energy
ASSET MIX
Private equityImpactDirect investmentsReal estate
GEOGRAPHY
France

WHAT IT IS

Institutional LP. Pension funds, endowments, foundations and sovereign funds that commit capital to funds and, sometimes, directly.

  • Macif Impact ESS
    Impact investment subsidiary created in 2020; €20M to finance social and solidarity economy structures and impact companies
  • Macif Terre et Vivant
    Fund launched in 2024 (€50M total commitment at end 2025) making direct investments in companies that meet basic human needs while preserving natural resources
  • Macif Innovation
    Corporate startup investment vehicle (SAS, 100% subsidiary), endowed with €30M; invests at seed and Series A in startups aligned with Macif’s strategy (e.g. Carbookr 2023, Revolte 2025)

ABOUT

Macif is a French mutual insurer covering 6.45 million members and clients in property and casualty, health and savings, and a founding member of Aéma Groupe with AÉSIO mutuelle. Macif SAM held €17.0bn of investments at market value at end 2025, including private equity and infrastructure funds. In 2025 it invested in the soil-regeneration fund SWEN Terra and joined the “Objectif Biodiversité” initiative, whose unlisted private equity fund it backs. It also invests directly through Macif Impact ESS (€20M, social and solidarity economy) and the €50M Macif Terre et Vivant fund, whose third investment, Recyclivre, was made in 2026.

PORTFOLIO (4)

  • SWEN Terra (soil regeneration fund, SWEN Capital Partners)
    Food & Agriculture · since 2025
  • “Objectif Biodiversité” unlisted private equity fund (founding investor, Af2i initiative)
    Climate & Energy
  • Recyclivre (via Macif Terre et Vivant)
    Consumer & E-commerce · since 2026
  • Drive Innov (via Macif Impact ESS)
    Mobility & Logistics · since 2025

TEAM

  • Jean-Philippe Dogneton
    Chief Executive Officer (Directeur général), Macif SAM · source
  • Nicolas Bouffard
    Deputy Chief Executive Officer (Directeur général délégué), Macif SAM · source
  • Sabine Castellan Poquet
    Chief Investment Officer (Directrice des investissements) · source

LINKS

FAQ

Macif is a institutional investor based in Niort, France.

Yes. Macif invests directly in private companies. It also commits capital to third-party funds as an LP.

Macif invests in Climate & Energy.

Key people at Macif include Jean-Philippe Dogneton (Chief Executive Officer (Directeur général), Macif SAM), Nicolas Bouffard (Deputy Chief Executive Officer (Directeur général délégué), Macif SAM) and Sabine Castellan Poquet (Chief Investment Officer (Directrice des investissements)).

Macif's investments include SWEN Terra (soil regeneration fund, SWEN Capital Partners), “Objectif Biodiversité” unlisted private equity fund (founding investor, Af2i initiative), Recyclivre (via Macif Terre et Vivant) and Drive Innov (via Macif Impact ESS).

No. Macif invests its own capital and does not raise money from outside investors.