In Excess of €70m of Commitments from Top-Tier Institutional Limited Partners
Paris, 19th of July, 2017 – Jolt Capital, a Private Equity firm specialized in Growth Capital investing in European technology companies with global ambitions, is announcing a First Closing of its new fund, Jolt Capital III, with commitments of €72m. Following this first closing, Jolt Capital now has in excess of €130m of investments and commitments.
With an investment team of experienced Investors and C-level technology executives, Jolt Capital is well-positioned to take advantage of the significant further development of the tech ecosystem in Europe over the next few years. As one of the ‘up and coming’ European PE managers, Jolt Capital has developed a strong track record of identifying & investing in profitable tech companies set for hyper-growth ‘inflection points’, driven by solid intellectual property (IP), compelling products, strong customers, geographical expansion, and industry developments. Some examples of Jolt Capital’s strategy include:
- Merged with AMS (SIX:AMS) in January 2017, in a transaction worth ≈$1.5b, leading to the creation of a leading global sensor company, based in Europe and listed on the Swiss market.
- Fogale Nanotech
- Realised a partial exit of ≈$100m from the sale of a newly formed 3D mobile interface business unit to a leading mobile manufacturer.
- Inside Secure (EURONEXT:INSD)
- Jolt benefited from a ≈400% stock price increase in less than a year, having supported and participated in the completion of a strategic refocusing from hardware to software.
Jean Schmitt, Managing Partner of Jolt Capital, said, “We spend lots of time with a company before investing, working with management to execute inflection point growth plans and identify potential exit pathways. European companies are IP rich, their management teams are solid, and they have a strong ability to sell their products worldwide. We are here to foster those strong points, by strengthening their balance sheets and advising the companies all the way along, as partners.”
Christian Tang-Jespersen, CEO of Heptagon commented, “Going through a very steep – and sometimes bumpy – growth trajectory, requires a very close collaboration with your key stakeholders. Jolt Capital was not only a visible shareholder that we could spar with, but also truly a business partner, that gave us access to their significant network. As a CEO I’m looking for exactly this balanced experience that helps me to make qualified decisions but also understands that nothing in static. I would look to Jolt Capital as an investor in the future as well.”
In addition to current Limited Partners (LPs) – which include top tier institutional investors, global corporate investors, single family offices and accomplished high-tech executives – who are all re-investing at higher aggregate commitment levels, Jolt Capital III has added more top-tier LPs including Fund of Fund Platforms, Pension Funds & multi-family offices.
Pierre Abrial, Partner at Access Capital Partners, said,“We are happy to be long-term investors in Jolt Capital’s funds. Jolt raises short maturity funds that can be invested fairly rapidly but on a very selective basis in companies in which they see high growth potential. They work hard to make a real difference to the trajectories of companies and then drive a win-win outcome for both the firms and investors”.
Meanwhile, Kee Lock Chua, CEO of Vertex Holdings of Singapore added, “Jolt Capital is a strong partner in Europe for Vertex. We are excited to assist Jolt Capital portfolio companies to scale their business in Asia and to co-invest in selected situations.”
Jolt has a very disciplined origination, operations and investment process driven by a strong, very experienced team with Partners Jean Schmitt, a 3 time successful entrepreneur and former Managing Partner at Sofinnova Partners, Laurent Samama, a long-time Executive at both global tech corporates and growing tech companies, and Antoine Trannoy, a former Executive of major telecom firms, banks and growing tech companies. Giacomo Del Grande, a multiple-time tech company Finance Executive & Director, serves as CFO, Eoghan Hickey, leads research & analysis and Dr. Phillipe Laval, a repeat entrepreneur and expert in artificial intelligence, recently joined Jolt as Chief Data Officer.
Further elaborating on Jolt Capital’s pace of investment, Laurent Samama added, “Jolt Capital III will be investing €7m→15m in 6 →7 companies. We are already working with a number of growth technology companies and expect to invest this fund in 2-3 years.”
Azla Advisors (www.azla-advisors.com) is serving as Jolt Capital’s exclusive global placement advisor and is managing the Jolt Capital III fundraising process.
- About Jolt Capital
Jolt Capital SAS is an independent Private Equity firm specialised in Growth Capital investing in fast growing, profitable, global technology companies originating in Europe, typically with revenues between €15 million and €100 million. Through its first two Funds, Jolt Capital has invested in and catalyzed various champion technology companies, including Heptagon, Inside Secure, Fogale Nanotech, Alpha Mos, Blackwood Seven and Skill&You. The firm is authorized and regulated by the AMF.
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- Maryse de Wever
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