Skip to content
Private Equity FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 15 SOURCES

Cervinvest Capital

Also known as Cervinvest Build, Cervinvest Scale

Paris private equity manager founded in 2023 running a €110M small-cap buy-and-build fund (Build) and raising a €500M European lower mid-cap fund (Scale).

HEADQUARTERS
Paris, France
FOUNDED
2023
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
10 people

FOCUS

STAGES
GrowthBuyout
SECTORS
Software & SaaS
ASSET MIX
Private equity
GEOGRAPHY
EuropeFranceItalyNetherlandsBelgium

WHAT IT IS

Private Equity Fund. A fund manager investing limited-partner capital into mature private companies.

ABOUT

Cervinvest Capital is an entrepreneur-led private equity firm founded in 2023, headquartered in Paris with teams in Milan and Amsterdam, investing only in European companies. Its Build strategy (formerly its only fund, Matterhorn I, closed at €110M in January 2026) takes majority stakes of €5–20M to build consolidation platforms in fragmented markets. In September 2026 Managing Partners Maxence Radix and Guillaume de Jongh took control of the management company and launched Scale, a European lower mid-cap fund targeting €500M with €15–60M tickets in minority FlexEquity or majority buy-and-build deals. Holdings include Ansemble, Kinara, Ignimission and Yole Group.

INVESTMENT THESIS

Build: majority buy-and-build platforms in European small caps (revenue at least €5M, EBITDA at least €1M), €5–15M initial tickets up to €20M, 4–7 year holds. Scale: lower mid-cap companies aligned with pre-identified megatrends, minority equity or structured equity (FlexEquity) alongside founders, or majority consolidation platforms, €15–60M tickets.

PORTFOLIO (4)

  • Yole Group
    since 2026
  • Ignimission
    Software & SaaS · since 2026
  • Kinara (formerly Truckonline / TOL Développement)
    Software & SaaS · since 2025
  • Ansemble
    since 2024

TEAM

  • Maxence Radix
    Managing Partner (Scale) · source
  • Guillaume de Jongh
    Managing Partner (Scale) · source
  • Marc-Antoine Janny
    Managing Partner (Build) · source
  • Antoine Rouland
    Managing Partner (Build) · source
  • Farah Fehaili
    Partner, Head of Investor Relations & Fundraising · source
  • Anne-Sophie Moinade
    Partner (Scale, France) · source
  • Arthur Milliard
    Partner (Scale, France) · source
  • Giacomo Tofani
    Partner (Italy) · source
  • David Kusters
    Partner (Benelux) · source
  • Kevin Blakimé
    Director · source

LINKS

FAQ

Cervinvest Capital is a private equity fund based in Paris, France, founded in 2023.

Yes. Cervinvest Capital invests directly in private companies.

Cervinvest Capital invests at Growth and Buyout stages in Software & SaaS.

Cervinvest Capital's stated ticket size is €5M–€60M.

Key people at Cervinvest Capital include Maxence Radix (Managing Partner (Scale)), Guillaume de Jongh (Managing Partner (Scale)), Marc-Antoine Janny (Managing Partner (Build)) and Antoine Rouland (Managing Partner (Build)).

Cervinvest Capital's investments include Yole Group, Ignimission, Kinara (formerly Truckonline / TOL Développement) and Ansemble.

The most recent publicly reported investment by Cervinvest Capital is Yole Group (Minority primary investment (Cervinvest Scale, first deal)), announced in Sep 2026.

Yes. Cervinvest Capital manages capital from outside investors.