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Private Equity FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 9 SOURCES

LT Capital

Also known as LT CAPITAL, LTC

Independent Paris small-cap buyout manager (AMF GP-17000013), spun out of Paluel-Marmont Capital in 2017; €3M–€15M in MBOs, OBOs and buy-and-build deals in French SMEs, all sectors.

HEADQUARTERS
Paris, France
FOUNDED
2017
AUM
€280M (2024)
OUTSIDE CAPITAL
Yes
TEAM LISTED
7 people

FOCUS

STAGES
GrowthBuyout
SECTORS
Industrial & ManufacturingConsumer & E-commerceMedia & EntertainmentSoftware & SaaSFood & AgricultureHealthTech
ASSET MIX
Private equity
GEOGRAPHY
France

WHAT IT IS

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

ABOUT

LT Capital is an independent private equity manager whose team worked from 2002 to 2017 within Paluel-Marmont Capital, a wholly owned subsidiary of the Lebon family group Compagnie Lebon, before becoming independent and creating LT Capital in 2017. It invests €3M–€15M per deal as reference shareholder in French SMEs, mainly in MBOs, OBOs and buy-and-build strategies, with no sector restriction. Its FPCI funds are backed by institutions such as the European Investment Fund, SWEN Capital Partners and Amundi, insurers, banks and private investors; it raised its fourth-generation fund (LTC IV) in 2024.

INVESTMENT THESIS

Reference-shareholder equity of €3M–€15M in French SMEs, predominantly MBO, OBO and buy-and-build transmission deals, with no sector restriction and a niche, multi-sector approach; aims to build mid-caps through add-on acquisitions and international growth.

PORTFOLIO (15)

  • Recyclivre
    Consumer & E-commerce · since 2026
  • Ophtalogy
    HealthTech · since 2024
  • Wit
    Software & SaaS · since 2024
  • Hungry
    Media & Entertainment · since 2024
  • Atelier Lalos
    Food & Agriculture · since 2023
  • IH Groupe
    Climate & Energy · since 2023
  • Alliance Economie
    Industrial & Manufacturing · since 2022
  • Groupe Masci
    since 2022
  • Ecoclean Services
    Industrial & Manufacturing · since 2020
  • Global Partner
    Software & SaaS · since 2020
  • EXteam
    Software & SaaS · since 2019
  • Diferbat
    Industrial & Manufacturing · since 2022 · Exited
  • Dreyer
    Industrial & Manufacturing · since 2017 · Exited
  • Rollakin (123Roulement)
    Consumer & E-commerce · since 2021 · Exited
  • Scrapcooking
    Consumer & E-commerce · since 2014 · Exited

TEAM

  • Xavier Poppe
    Président · source
  • François-Xavier Deren
    Associé · source
  • Véronique Policard
    Associée · source
  • Nathanaël Martin
    Associé · source
  • Brice Duval
    Directeur Associé · source
  • Antoine Joris
    Directeur Associé · source
  • Gilles Lavaud
    Directeur Opérationnel Finance · source

LINKS

FAQ

LT Capital is a private equity fund based in Paris, France, founded in 2017.

Yes. LT Capital invests directly in private companies.

LT Capital invests at Growth and Buyout stages in Industrial & Manufacturing, Consumer & E-commerce, Media & Entertainment, Software & SaaS, Food & Agriculture and HealthTech.

LT Capital's stated ticket size is €3M–€15M.

Key people at LT Capital include Xavier Poppe (Président), François-Xavier Deren (Associé), Véronique Policard (Associée) and Nathanaël Martin (Associé).

LT Capital's investments include Recyclivre, Ophtalogy, Wit, Hungry, Atelier Lalos, IH Groupe, Alliance Economie and Groupe Masci, among others.

The most recent publicly reported investment by LT Capital is Recyclivre (Management buyout via LTC IV, alongside SWEN Capital Partners), announced in Apr 2026.

Yes. LT Capital manages capital from outside investors.