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Institutional LPNo direct investingLAST VERIFIED Oct 2026 · 6 SOURCES

Matmut

Also known as Groupe Matmut, SGAM Matmut, Matmut SAM, Mutuelle assurance des travailleurs mutualistes, Korège, KOREGE, Matmut Vie

Rouen-based mutual insurance group (SGAM Matmut) with €28.7B of assets incl. Korège (2025); LP in PE, infrastructure and private-debt funds; €90M committed under Tibi 1 and 2.

HEADQUARTERS
Rouen, France
FOUNDED
—
AUM
€28.7B (2025)
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
3 people

FOCUS

STAGES
SeedGrowth
SECTORS
HealthTechClimate & Energy
ASSET MIX
Private equityPrivate creditImpactReal estate
GEOGRAPHY
EuropeFrance

WHAT IT IS

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

  • Matmut Private Equity (MPE)
    Société civile de portefeuille holding the group’s private-equity fund interests; all PE funds entered since 2021 are SFDR Article 8 or 9
  • KOREGE
    Life insurer acquired on 31 October 2025 (formerly HSBC Assurances Vie (France)), 100% owned by Matmut SAM
  • Matmut Innovation
    Startup investment company (formerly Sferen Innovation, created 2015; 100% Matmut since 1 January 2017) with a €15M envelope for insurance-value-chain startups; joined ZEWAY’s €26.75M round in 2023

ABOUT

Matmut is a French mutual insurance group headquartered in Rouen; its prudential group SGAM Matmut is headed by Matmut SAM, which owns Matmut Vie (72.72%), Matmut Protection Juridique and, since 31 October 2025, the life insurer KOREGE (formerly HSBC Assurances Vie (France)). Total assets were €28.7B in economic value at end-2025, of which €22.5B from KOREGE and €6.2B for the rest of the group. Unlisted assets are run by the in-house investment team, with SWEN Capital Partners handling due diligence and administration; in 2024 they were about 7% of assets (3% private equity, 3% infrastructure funds, 1% private debt). Matmut committed €90M to tech funds under the Tibi 1 and 2 initiatives and backs thematic impact funds such as SWEN’s Blue Ocean, Mutuelles Impact and Lauxera Growth.

PORTFOLIO (9)

  • Tibi 1 and 2 qualified funds — €90M committedNOTABLE
    Software & SaaS
  • Blue Ocean (SWEN Capital Partners)
    Climate & Energy
  • Mutuelles Impact
    HealthTech
  • Lauxera Growth
    HealthTech
  • SWEN Infra Multi-Select 3 and 5
  • SWEN Impact Fund for Transition 3
    Climate & Energy
  • InfraVia European Fund VI
  • Eiffel Energy Transition Fund
    Climate & Energy
  • Zencap Direct Lending IV

TEAM

  • Nicolas Gomart
    Chief Executive Officer (Directeur général), SGAM Matmut · source
  • Thierry Masson
    Deputy CEO (Directeur général délégué), Matmut SAM · source
  • Léovic Lecluze
    Chief Investment Officer (Directeur des investissements), Groupe Matmut (as of June 2024) · source

LINKS

FAQ

Matmut is a institutional investor based in Rouen, France.

Matmut does not primarily invest directly in private companies. It also commits capital to third-party funds as an LP.

Matmut invests at Seed and Growth stages in HealthTech and Climate & Energy.

Key people at Matmut include Nicolas Gomart (Chief Executive Officer (Directeur général), SGAM Matmut), Thierry Masson (Deputy CEO (Directeur général délégué), Matmut SAM) and Léovic Lecluze (Chief Investment Officer (Directeur des investissements), Groupe Matmut (as of June 2024)).

Matmut's investments include Tibi 1 and 2 qualified funds — €90M committed, Blue Ocean (SWEN Capital Partners), Mutuelles Impact, Lauxera Growth, SWEN Infra Multi-Select 3 and 5, SWEN Impact Fund for Transition 3, InfraVia European Fund VI and Eiffel Energy Transition Fund, among others.

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