European SME investor Idinvest Partners has closed the ISIA Fund (Idinvest SME Industrial Assets) at €340m (£302m), surpassing the intial €300m target.
Launched towards the end of 2017, ISIA is the first diversified fund intended to finance the modernisation of production tools for European SMEs via direct lending and asset finance.
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ISIA is backed by fifteen institutional investors, a third of which are sovereign wealth funds. While Idinvest Partners is based in France 35% of investments comes from outside the country, with investors including the European Investment Bank and the European Investment Fund.
ISIA will look to finance over fifty operations across European markets including France, Spain, the Benelux region, and Germany. Currently the ISIA has already supported over fifteen companies and financed nearly fifty pieces of industrial machinery. The fund’s management team is made up of five investment professionals and led by Sylvain Makaya, a partner at Idinvest.
Makaya said: “We are delighted with the success of this fundraising and the very high level of demand from investors.
“We voluntarily chose to close the fund at this stage to prioritise the deployment of capital, given the need for flexible financing solutions to help European SMEs respond to the challenges of competitiveness and productivity that they are confronted with, and ensure they have access to the modern industrial equipment they need.”
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By GlobalDataInvestment size ranges between €1m and €15m, with an average financing duration of five to seven years.
Christophe Bavière, chief executive officer of Idinvest, said: “For the past 20 years, Idinvest has been a proud supporter of European SMEs and the ISIA fund demonstrates our continued commitment to meet their growing needs with tailored financing solutions.
“It is our belief that giving companies access to more modern industrial equipment will not only help them develop at a greater pace but will also go towards supporting the core of value creation in Europe.”
