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Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 22 SOURCES

Isatis Capital

Also known as ISATIS CAPITAL

Independent Paris PE manager (AMF GP-13000026, 2013) doing primary growth and transmission deals up to €16M in French digital, healthcare and engineering SMEs via institutional and retail funds.

HEADQUARTERS
Paris, France
FOUNDED
2013
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
9 people

Focus

STAGES
GrowthBuyout
SECTORS
Software & SaaSHealthTechIndustrial & Manufacturing
ASSET MIX
Private equity
GEOGRAPHY
France

Overview

Isatis Capital is an independent portfolio management company created in 2013, whose team has invested in SMEs since 2002. It takes minority or majority stakes of up to €16M in equity and quasi-equity in profitable French SMEs in digital, healthcare and engineering, mainly through primary LBO and development capital deals. Its fund ranges serve institutional investors (Crescendo), tax-driven retail investors (Isatis Expansion), life insurance and pension savers (evergreen FCPR Isatis Capital Vie & Retraite) and 150-0 B ter reinvestment (Isatis Patrimoine Entrepreneurs). In May 2026 the firm was transferred to its management team and announced a new institutional FPCI, Isatis Souveraineté PME.

Investment thesis

Primary development-capital and transmission deals in growing, profitable, high-value-added French SMEs, historically in digital, healthcare and engineering; minority or majority, up to €16M in equity and quasi-equity. The planned Isatis Souveraineté PME FPCI targets SMEs with €2M–€5M EBITDA in energy, digital, industry and health that hold key positions in value chains critical to French sovereignty, €6M–€8M tickets, about ten deals over five years.

PORTFOLIO (9)

  • Adelyce
    Software & SaaS · since 2026
  • Captivea
    Software & SaaS · since 2026
  • Wiiisdom
    Software & SaaS · since 2022
  • Sagitta Pharma
    HealthTech · since 2021
  • B-Hive
    Industrial & Manufacturing · since 2020
  • Groupe Référence
    since 2020
  • CET Ingénierie
    Industrial & Manufacturing
  • Sources
    Climate & Energy
  • Secal
    Industrial & Manufacturing · since 2019 · Exited

People

  • Brice Lionnet
    Président du Directoire · source
  • Laurent Baudino
    Membre du Directoire · source
  • Guillaume Lebrun
    Membre du Directoire - Référent IA · source
  • Eric Boutchnei
    Co-founder; Membre du Conseil de Surveillance · source
  • Louis Deforges
    Directeur du Développement · source
  • Stéphanie Forestier-Cazor
    Secrétaire Générale · source
  • Pierre Martin
    Directeur d’Investissement · source
  • Nicolas Bugy
    Directeur de Participations · source
  • Alexandre Chevet
    Directeur de Participations · source

Links

Frequently asked questions

Isatis Capital is a private equity fund based in Paris, France, founded in 2013.

Yes. Isatis Capital invests its own capital in private companies.

Isatis Capital invests at Growth and Buyout stages in Software & SaaS, HealthTech and Industrial & Manufacturing.

Isatis Capital's stated ticket size is Up to €16M.

Key people at Isatis Capital include Brice Lionnet (Président du Directoire), Laurent Baudino (Membre du Directoire), Guillaume Lebrun (Membre du Directoire - Référent IA) and Eric Boutchnei (Co-founder; Membre du Conseil de Surveillance).

Isatis Capital's investments include Adelyce, Captivea, Wiiisdom, Sagitta Pharma, B-Hive, Groupe Référence, CET Ingénierie and Sources, among others.

The most recent publicly reported investment by Isatis Capital is Adelyce (Significant minority stake), announced in May 2026.

Yes. Isatis Capital manages capital from outside investors.