The Paris-based based impact venture capitalist this week announced a €217 million ($252 million) final close of its growth buy-out fund.
Global alternative asset manager Tikehau Capital, French public investment bank Bpifrance and French impact investor SWEN Capital Partners as anchor partners. New investors, including the European Investment Fund, financial services giant Groupe Crédit Agricole, French insurer Abeille Assurances and global alternative investment specialist Investcorp-Tages, helped clinch the deal.
“In a macroeconomic environment marked by increased uncertainty, reduced liquidity, and a more selective market, the €217 million closing of Ring Altitude II reflects the renewed trust of our historic investors in our approach, and our ability to attract new partners, particularly at the European level,” the firm’s Geoffroy Bragadir said in a post on LinkedIn.
Impact growth
Ring’s growth fund invests in companies with revenues of more than €10 million ($11.6 million) that can drive social and environmental change in sectors including energy, healthcare and education. To date, it has invested in 18 companies, including mobile carpooling app Karos, and LeHibou, a marketplace for tech freelancers focused on seniors and women.
Ring, which has €470 million ($546 million) in assets under management, has provided funding to more than 50 companies, ranging from pre-seed to growth, in eight countries in Europe and Africa.
