Argos Soditic, Paris, Milan and Geneva-based private equity firm, has held the first close of its new fund, Argos Expansion, at €45m.
The fund will make its first investments while continuing to raise funds from French and European limited partners, with a final target of €120m.
Investors in the fund include the European Investment Fund (EIF) and CDC Entreprises, acting on behalf of the French Strategic Investment Fund (FSI).
Argos Expansion will provide development and acquisition financing for France-based Small and Medium Sized enterprises (SMEs). The fund will make minority investments of unitary amounts between €2m and €12m in businesses with enterprise values ranging from €10m to €100m.
Argos Expansion will be managed by an independent management team including the three following partners:
– Olivier Bossan,
– Louis de Lestanville and
– Jean de Sampigny.